Finance Export: Setup for QuickBooks Desktop

This article helps you to...

• Understand some QuickBooks Desktop pitfalls and how to avoid them.
• Sync your Salsa CRM Funds to QuickBooks Desktop income accounts.
• Sync Salsa CRM Classes to QuickBooks Desktop Classes.

QuickBooks Tips

You should familiarize yourself with this list. Many of the concepts here are relevant to importing all types of IIF files.

• There is no preventative mechanism to stop the same IIF from being imported multiple times. It is possible to repeatedly import the same IIF file, resulting in multiple entries of the same transaction.
• Create a backup of your QuickBooks data file BEFORE importing. There is no Undo on the import function.
• Be sure to first link all accounts from your company file by mapping them to Funds BEFORE you attempt to import the transactions. If you do not do so, You may find that QuickBooks creates improper accounts. Credit Account Name in Salsa CRM needs to be 100% the same as in Quickbooks. The IIF format is not forgiving with spelling or syntax errors. Make sure your Salsa CRM Funds are correctly formatted.

Sync Funds to Chart of Accounts

Income accounts show how much money your organization has earned. Use multiple separate income accounts to track different streams of income. An equity account is where you can see the draws and investments of your business.

Salsa CRM Fund Credit Account Name and Debit Account Name fields sync with your QuickBooks Chart of Accounts income or equity account names.

Set those values for every Salsa CRM Fund that may be used with a donation and sent to QuickBooks. These values only need to be linked once before you export any donations.

To add income accounts to Funds...

1. Click Manage > Finances > Funds from the main menu.
2. Click Add. The New Fund screen opens.
3. Credit Account names are used to match the income or equity accounts in your Chart of Accounts QuickBooks will direct donations made to this fund. These must have the exact same spelling as found in the Chart of Accounts:
   • If you have sub-accounts, format the credit account name as...
     Account Name:Sub-Account Name:Next Sub-Account Name.
     
     As an example,
     Individual Contributions:Restricted Account:Baker Scholarship Account
   • QuickBooks has an option to name Accounts with a numbering system. Do not enter account numbers into Salsa CRM. Enter the account names. Eliminate the colon and sub-account name(s) if not applicable. Enter the necessary information, and then click Save.
4. Debit Account names for all Funds should always be Undeposited Funds without exception (exact spelling is required).
5. Click Save. 

Add Classes in QuickBooks

If you use Classes in QuickBooks for noting the fundraising activity, location, or expense tracking, you will need to set up your Classes in Salsa CRM. These values only need to be linked once before you export any donations.

1. Select Manage > Finances > Classes.
2. On this screen, you will need to enter...
   • • Display Name (how it appears on the Donation Screen in Salsa CRM)
     • Accounting Name (the path in QuickBooks to where this information is to appear). You must separate the appropriate items in the Accounting Name field with a colon and NO spaces, similar to how the Credit Account Name was formatted. For example, Program Funds:2012:Summer Camp.
3. Click Save.

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