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Moving from QuickBooks Desktop to QuickBooks Online

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John Mackenzie
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Introduction

If you are already integrated with your QuickBooks desktop application and are switching to the QuickBooks Online version, the transition will require only a few steps to ensure that the accounts already in your MC Trade database are connected to your QuickBooks Online company.

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Changing Accounting Package

First, you'll need to change your Accounting Package to QuickBooks Online:

  1. Click on the Admin menu and then Global Settings.
  2. Click on the Accounting Packages tab.
  3. Next to the package with the "QuickBooks" type, click Actions and Edit.

  1. Change the Type to "QuickBooks Online."

Sync Posting Batches should be checked if you want the journal entries in MC Trade to be posted to QuickBooks Online when you use the Post Transactions tool. This should only be unchecked if you wish to manually enter the information in QuickBooks Online.

  1. Click Sign in to your QuickBooks Online Account.

A browser popup will appear, prompting you to log in to your QuickBooks account:

  1. Enter your Email, User ID, or Phone Number associated with QuickBooks Online, and click Sign In.
  2. Enter the password and click Continue to log in and authorize MC Trade to connect to QuickBooks Online. If you have multiple companies in QuickBooks then you will need to choose one of them to complete the integration, and click Next.
  3. When prompted to connect WebLink Integration to your company (in the example below, the company is called Pegasus), click Connect.

  1. In MC Trade, click Save.

You are now connected to your QuickBooks Online account!

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Re-Importing Account Codes

Second, you need to re-import your accounts.

If account codes were setup prior to this then you will need to delete all previously created account codes before proceeding with this import.

  1. Click on the Admin menu and then Manage Codes.
  2. Under Revenue Codes, click on Account Codes.

  1. Click Import Accounts in the top right corner.
  2. Select the same package that you edited in the previous section (step 3) and click Get Accounts.
  3. Select the accounts that you want to import or update and click Import Accounts.
    • Please note: Enabling Account Numbers for your General Ledger Account Codes are required to use the integration. If you recognize revenue on an accrual basis, you must create a NEW receivables account with an account type of "Other Current Asset" to integrate with MC Trade. 

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Mapping Items to Account Codes

Map each of the following items to the QuickBooks Online accounting package and account codes: Revenue Items, Payment Types, and Adjustment Types. 

Also, if you use classes in QuickBooks, you will need to map your revenue items to those as well.

Once you complete that, you are ready. Now, whenever you post transactions to the QuickBooks Online accounting package, a journal entry will be created for each day, with the balancing debit/credit, unless you disabled the option to Sync Posting Batches.

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