Bookkeeping » History » Revision 19
Revision 18 (Jon Goldberg, 02/07/2021 10:46 PM) → Revision 19/36 (Jon Goldberg, 02/07/2021 10:49 PM)
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# Bookkeeping
Megaphone Technology uses InvoiceNinja for A/R and Quickbooks Desktop for bookkeeping.
### Transfer client/invoice data from Invoiceninja
* Get clients from InvoiceNinja. IN **Settings » Import/Export » Export Clients to CSV**. Open in LibreOffice Calc.
* In Quickbooks, **Lists menu » Add/Edit Multiple List Entries**. List is **Customers**. Paste new clients in the *Name* and *Company Name* columns.
* **NOTE** Set the list *View* to **All Customers**. Otherwise it's not clear which Invoiceninja clients are new vs. already archived in Quickbooks.
* *Work to Reassign* isn't a real client, don't transfer to Quickbooks.
* From the QB home screen, select **Create Invoices**. For now, it seems like manually retyping the invoices is the only option. We just need client name, date, invoice #, item ("IT Consulting" or "Maintenance Plan"), and amount.
### Enter invoice payments into Quickbooks
* Note the last recorded payment in Quickbooks. You can find that by clicking on "Receive Payments" from the home screen, and clicking "back" once.
* Pull up a list of payments in InvoiceNinja (Payments tab, sort by date)
* Start entering the payments. Make sure to get the dates correct, and apply it to the correct invoice(s). Payment method isn't terribly important - but log ACH payments as "E-check", and Bank Transfers/Credit Card/Check all as appropriate. If the Invoiceninja Payment Method is just "Stripe" with no credit card listed, that's an ACH payment.
* If the Invoiceninja payment method is *Apply Credit*, do not enter a **Payment Amount**. Instead, press the **Discounts and Credits** button in the toolbar. Place a checkmark next to the credit used to pay the bill (there is generally only one credit per client), then press **Done**.
### Enter payments received as credits into Quickbooks
* Note the last recorded payment in Quickbooks. You can find that by clicking on "Enter Payments" from the home screen, and clicking "back" once.
* Pull up a list of payments in InvoiceNinja (Credits tab, sort by date, show Archived)
* Start entering the payments. Make sure to get the dates correct.
### Cross-check: Compare outstanding client credits/debits in Quickbooks/Invoiceninja
* QB's list is easily available by pulling up the customer center.
* You can see Invoiceninja balance from the [clients](https://invoices.megaphonetech.com/clients) screen. **Note:** If the client has a *credit*, this will NOT show up on the client screen (this may be a bug). If the numbers don't match Quickbooks, click into the client to look for a credit.
* This is also a good time to mark QB customers inactive that have been marked inactive in Invoiceninja. Double-click their name and check off "customer is inactive".
### Record the deposits - checks
Using either the bank statements or the "Checks Deposited" Google doc, you'll now group your payments into deposits.
**Note:** Most checks are e-deposited now, so it's pretty safe to simply record every payment of type *Check* into its own deposit on the same day the payment is listed for (I e-deposit checks when I record them in Invoiceninja)
* From the QB home screen, click "Record Deposits".
* Check off the first group of checks that were deposited together (note that you can slide your mouse over them to check them off faster).
* Confirm that the Payments Subtotal matches the bank statement, then Press OK.
* Enter the deposit date, then press "Save and New" until you're done.
* If your numbers are off, look at "Checks Deposited".
### Record the deposits - credit card and ACH (Stripe)
* From the QB home screen, click "Record Deposits".
* Log into Stripe.com, go to *Payments* and export all payments.
* Open the export in your spreadsheet software and create a column called "Net" that's Total - fee.
* Check the bank statement for payments from Stripe.com. They'll batch multiple payments together, so find the payments on the Stripe export whose "net" adds up to the amount on the statement.
* Check off the corresponding group of payments in Quickbooks.
* On the next blank line, set the *Account* to "Bank Service Charges* and enter a *negative* amount that equals the service charge. Note that all Quickbooks fields allow you to do arithmetic, so you can put in the amount from the statement minus the total of payments.
* Enter the deposit date from the bank statement, then press "Save and New" until you're done.
### Record the deposits - PayPal
* From the QB home screen, click "Record Deposits".
* Log into Paypal.com, go to **Reports** menu, then **Activity Download**.
* Run a report of type **Balance Affecting** for the appropriate time period, download as a CSV.
* Check off the corresponding group of payments in Quickbooks.
* On the next blank line, set the *Account* to "Bank Service Charges* and enter a *negative* amount that equals the service charge. Note that all Quickbooks fields allow you to do arithmetic, so you can put in the amount from the statement minus the total of payments.
### Record the deposits - Wire transfers
* From the QB home screen, click "Record Deposits".
* Locate wire transfers on the bank statements.
* Check off the corresponding payment in Quickbooks.
* On the next blank line, set the *Account* to "Bank Service Charges* and enter a *negative* amount that equals the service charge.
* Enter the deposit date from the bank statement, then press "Save and New" until you're done.
### Record accounts payable
Using the bank statements and/or the Amalgamated website, we can put all the payments into Quickbooks. Also a bit long/tedious.
* From the home screen, click "Write Checks". Click on "Previous" to note the last transaction recorded in QB
* Record payments on the bank statements.
* Make sure payments are categorized correctly.
* When setting up a new vendor, don't do Quick Add; enter a default category for the payment.
* Make sure the date and check number is correct.
* The check number for debit card transactions is "DB". The check number for direct transfers from the bank account is "EFT".
* Put any memos from the check into the memo field in QB.
### Reconcile the bank acccount
Bank reconciliation (aka "bank rec") is a cross-check to ensure that your ending balances in the bank account match that of Quickbooks. You do it once for each physical bank statement you have - though you can also just do it through any date if you know what the ending balance on that day was.
* On the home screen, press the "Reconcile" button.
* Enter the Statement Date and the Ending Balance, press "Continue".
* Check off all the debits and credits that are on or before the statement ending date. If you're lucky, it'll match, and your difference will be $0.00.
** If not, go through the items one by one (or bifurcate!) and find the discrepancies and correct them.
### How to handle unusual transactions in Quickbooks:
* Tax refund: Make Deposits (Rec'd from: NYS Tax and Finance, From Account: Taxes, Memo: NYS Tax Refund, Payment Method: Check, Amount: $73)
* Bounced checks (to us, not from us: http://support.quickbooks.intuit.com/support/articles/HOW12221)