by Adam Feber
When it comes to accounting and financial reporting, there is no room for error. If numbers are off, accounts won’t reconcile and reports won’t be accurate. The completeness of these reports are heavily dependent on the underlying transactional data found in your billing system.
Chargify solves the complexities of recurring billing for subscription-based businesses. QuickBooks Online (QBO) is the leading online accounting software focused on making “online accounting easy.” The integration between Chargify and QBO seamlessly connects billing into financial reporting, automates accounting workflows, and reduces reconciliation times—saving finance departments countless hours every month.
The core of the integration revolves around syncing transactional data from Chargify into QBO within minutes. These syncs include any revenue impacting event such as product renewals, mid-period changes, one-time charges, refunds, and more. As a result, QBO is always a mirror image of Chargify’s billing data without having to wait for extended sync times or subscription renewals.
The scope of our work went well beyond syncing accuracy to include smart configuration options that put businesses in control of their financial reporting:
Setting up the integration is easy and can be completed in a matter of minutes. Prior to completion, you’ll have the ability to either import all historical Chargify data, import Chargify data since a specific date, or do not import historical data—the choice is yours.
If you have used QBO prior to Chargify, the integration can use an email address to find and match any customers in Chargify to existing customers in QBO. If no email address exists, a new QBO customer will be created for future syncing.
Instead of mixing taxes in as a line item on sales receipts, we use QBO’s tax settings to breakout tax collections. Both custom taxes and taxes collected using Chargify’s Avalara integration will sync to QBO for better record keeping and reporting.
You can sync multiple Chargify Sites using different currencies into the same QBO account. By enabling QBO’s multi-currency setting, all synced customers and sales receipts will use the same currency as the originating Chargify Site.
Income Account Mapping
Every product and component in Chargify can be mapped to a QBO income account, allowing for more granular reporting in QBO. For example, if you want to view net revenue received in January from the ‘Pro’ plan, you could easily do so inside of QBO.
Chargify’s QBO integration is now out of beta and available for all Chargify customers.
For more information about configuring and using the integration, check out our documentation. If you have any specific questions, don’t hesitate to reach out to firstname.lastname@example.org (existing customers) or email@example.com.