Integrating QuickBooks with OwnerRez can automate accounting, enhance accuracy, save time, and provide seamless financial tracking for your vacation rental business. We've added support for the following QuickBooks Categories, channels, credit cards, and commission fees to bookings, which will automatically map to your QuickBooks accounts and the OwnerRez Line Item Pivot Report.
Learn more about QuickBooks Categories by reading their support article: Group products and services into different categories in QuickBooks Online.
To configure your QuickBooks categories, navigate to Settings > Financial > your QuickBooks integrations > the Deposit Settings tab > and click on the Change Deposit Settings button. In the Fees Expense Account, select "Use different expense accounts depending on the fee category (channel, credit card processing)." Then select the QuickBooks Expense Account for each Fee Category and Save.
- Channel → Booking Fee
- Credit Card Processing → Bank Charges
- All other types → Commissions & fees
Then, on the individual Bookings > Transactions > Fees sections, you see that those OwnerRez Fee Categories are mapped to your QuickBooks Categories.
And those categories will be properly synced to your QuickBooks account, in this case $12.20 for the credit card fee.
You can also add the category when recording fees and expenses to individual bookings. Here is an example of recording an expense to an individual booking by navigating to that specific Booking > Expenses > + Record Expense > Category.
Add a fee category to a fee of a specific booking by navigating to the individual Booking > Transactions > Fees > + Record Fee > Category.
PM users will note that Booking fees and PM expenses will have the same category.