Quickbooks Online

Work wherever you want – purchases, expenses, vendor bills, and processed payments sync directly between Knowify and QuickBooks Online. Based on rules you set, transactions are automatically assigned to the correct project, phase, and cost category (materials, equipment, or misc.) with no double-entry needed. Knowify even keeps track of and syncs over your Schedule of Values and retainage information for applicable jobs.

Whether you track your team’s time in Knowify or QuickBooks Time, you’ll be able to see the accurate, up-to-date labor hours in either platform. Knowify can sync directly with QuickBooks Time, or can push to the Timesheets in QuickBooks Online Payroll for easy processing.

Keep your client and vendor lists clean and free of duplicates. Whichever platform you add a new client in, Knowify and QuickBooks Online stay in sync, without any double-entry needed. Your Products and Services Catalog also stays in sync, along with prices and any other relevant info.

With Knowify’s QuickBooks Payments integration, you can let you clients pay via ACH or credit card directly from invoices you send out of Knowify. You’ll get paid faster and more consistently, and won’t need to manually reconcile payments to your jobs.

You don’t have to do much at all. If Knowify has the minimum default accounts, we’ll send relevant data into QuickBooks automatically and in real time. These are the entities that will be sent:

1. Clients (new or update)
2. Vendors (new or update)
3. Products and services (new or update)
4. Vendor bills (you can disable it for specific bills)
5. Vendor bill payments
6. Client invoices (you can disable it for specific invoices)
7. Client invoice payments
8. Deposits
9. Retainage
10. Time entries

There is a very important element to consider when we send information into QuickBooks: the default accounts. You can learn more about it below.

After the initial import, we’ll keep checking your QuickBooks account pretty often to import into Knowify any relevant information. This is the list of entities that we will keep up-to-date with QuickBooks:

1. Clients (new or update)
2. Vendors (new or update)
3. Products and services (new or update)
4. Vendor bill payments
5. Client invoice payments
6. Accounts (new or update)
7. Classes (new or update)
8. Tax rates and tax codes (new or update)

If any of these entities changes in QuickBooks, you should see it in Knowify in less than 10 minutes.

You’ll be creating vendor bills in Knowify and recording payment on either Knowify or QuickBooks—we’ll let the other side know that a vendor bill has been paid. Why do you have to create the bills in Knowify? An essential part of cost allocation will come from your vendor bills. If you create them in Knowify, you’ll be able to reconcile them with your purchase order and/or allocate them to your jobs. This way you’ll have accurate information about your costs. A similar reasoning applies to client invoices: if you create them in Knowify, we’ll help you track progress on your jobs and make sure you stay profitable. Besides, we do progressive billing in a very simple way, which you might find really useful if you charge on a percentage of completion basis.

Default accounts are important because when we send information into QuickBooks, we need to know the associated account for that information. For instance, if you create a vendor bill, we’ll need your accounts payable account and the applicable expense account. When you record payment for this bill, we’ll need the accounts payable account and the payment account. You can set these accounts in the accountant’s section. Keep in mind that you can set default income accounts for each client and default expense accounts for each vendor. This way you’ll be able to track revenues and expenses to the level of detail your business requires. Once your default accounts have been set, you don’t have to worry about them anymore.