Microsoft Dynamics CRM QuickBooks Integration

Intuit QuickBooks Online is a cloud-based accounting solution primarily used by small and medium-sized businesses. As companies grow, the need for a Customer Relationship Management (CRM) system becomes more apparent. While QuickBooks was not built with CRM functionality, Microsoft Dynamics 365 has emerged as a popular CRM solution in the small to medium business segment. This means the organization now has two separate systems that need to communicate and integrate with each other.

You can manage to import data from the Microsoft Dynamics 365 CRM into QuickBooks Online by exporting it in a supported file format, such as CSV (Comma-Separated Values), OFX (Open Financial Exchange), or QFX (Quicken Financial Exchange). These file types can be easily imported into QuickBooks Online, allowing you to sync data between the two systems without the need for manual data entry. All these options are entirely acceptable and can help ensure your financial and customer data is consistent across both platforms.

• Using an Excel spreadsheet
• Storing it in CSV format
• Importing the CSV file into QuickBooks Online

Before importing transactions into QuickBooks Online, it's crucial to ensure the Excel spreadsheet is current and accurate. Manual updating is time-consuming and prone to errors. Integrating Microsoft Dynamics 365 CRM with QuickBooks offers a superior solution, which we will explore further in this article.

What is Microsoft Dynamics 365?

Microsoft Dynamics Customer Relationship Management software. Now it is known as Dynamics 365 CRM. This is a sophisticated CRM solution. Microsoft Dynamics CRM maintains all communications and relationships with customers, stakeholders, prospects, and other contacts for your business.

Microsoft Dynamics 365 is a platform for cloud-based business applications that connect elements of customer relationship management (CRM) and enterprise resource planning (ERP), as well as productivity software and artificial intelligence tools.

Microsoft Dynamics 365 launched in 2016 When Microsoft connected Dynamics AX - its ERP application - with its Dynamics CRM application. Microsoft was one of the first significant vendors to connect capabilities of ERP and CRM natively.

What is QuickBooks?

QuickBooks is the most popular software for accounting and managing expenses or keeping track of daily health. In this, you can prepare invoices for customers, and pay bills, reports, and taxes. Multiple solutions are available to support a variety of business requirements, including in QuickBooks Product List: QuickBooks Online, QuickBooks Desktop, QuickBooks Payroll, QuickBooks Time, or QuickBooks Checking.

QuickBooks offers a variety of ways to save time and keep your financial statements organized. You can start with a single program, such as accounting or payroll software, and expand your suite of services as your business grows. You also have the flexibility to cancel or upgrade services as needed.

A typical QuickBooks setup might begin with registering for the accounting software. You can then enhance your system with QuickBooks Live to tailor the settings to your specific needs. As your company expands, you can hire full-time employees, contractors, and freelancers. To manage payroll more efficiently, you can subscribe to QuickBooks Payroll, and to track billable hours, you can use QuickBooks Time.

Why Microsoft Dynamics 365?

Microsoft Dynamics 365 CRM can be seamlessly integrated with QuickBooks accounting services to provide a complete business solution. Microsoft Dynamics 365 provides access to over 600 features that QuickBooks are lacking.

Some such features are:

• Multiple languages
• Barcode use and scanning 
• Contact classification and vendor management 
• Contact management 
• Interaction management 
• Purchase line discounting 
• Show discounts on customer invoices and last-sold price 
• Item substitutions and job management 
• Integration with Power BI
• Capacity management 
• Opportunity management 
• Workflow and Budgets/estimates.

This full ERP/accounting integration ensures that all company activities are executed on the same platform, from procurement to sales.

In addition, Dynamics 365 seamlessly integrates all parts of regularly used Microsoft products such as Excel, Outlook, and others. As a result, Dynamics facilitates a data flow between operations.

Features of Microsoft Dynamics CRM

Below is the mentioned list of Microsoft Dynamic CRM:

• Customer Insights: Integrates customer data from Dynamics 365, Office 365, and third-party data sources, this solution empowers users to derive valuable and actionable insights. Includes Power BI for analytics and visualization, and artificial intelligence tools that discern customer behaviors and deliver predictive scoring.
• Customer Service: Omnichannel customer engagement tools, communities, and self-service as well as tools for support agents.
• Field Service: The field service suite equips businesses with efficient resource scheduling, contract management, inventory management, and insight into the Internet of Things-connected products. Moreover, customer communications tools support seamless interactions.
• Finance and Operations: With a strong focus on financial management it provided reporting and analytics; manufacturing tools for project management, planning, scheduling, production, and cost management, and warehouse and inventory control tools for supply chain management.
• Project Service Automation: From project planning, resource scheduling, time, and expense management our platform enhances service analytics.
• Retail: Integrated commerce tools, store and employee management, goods management, and operational insights.
• Sales: Provides intelligence on prospective customers, personalization and customer engagement, sales productivity, and performance metrics.
• Talent: Human resources cloud services are connected to LinkedIn to manage all areas of HR, from attracting, hiring, and onboarding new employees to managing HR programs.

Requirement For the Integration

Developers are not necessary in this scenario. Pre-built interfaces are available for integrating Dynamics 365/CRM Accounts, Products, and Invoices with QuickBooks Online Customers, Items, Jobs, and Invoices.

These interfaces help increase efficiency by reducing duplicate data entry, eliminating errors, and providing deeper insights for more accurate planning. This integration offers comprehensive visibility into your company’s operations and highlights areas for improvement.

You can begin with a pre-built workflow and customize it according to your needs. You may use DB Sync to create customizable, on-demand integration workflows with nearly any data source, including business databases, ERP systems, accounting software, and your preferred e-commerce platforms.

How Does Microsoft Dynamics CRM work with QuickBooks?

• You can easily integrate invoice-to-invoice 
• QuickBooks Customers, Items, Jobs, and Invoices can be integrated with Microsoft Dynamics 365/CRM Accounts, Products, and Invoices
• Integrate with Inventory as well 
• Track Order to Cash and A/R analytics 
• Integrate beyond standard objects to do things like Timesheet and Expense Integration, A/P, A/R, and more. 

Integrate Microsoft Dynamics 365/CRM with QuickBooks Online Advanced to: 

• Save time and money on data reconciliation that isn't needed.
• Track and collect outstanding balances
• Run A/R analytics from within Dynamics 365/CRM
• Avoid Rep to CFO unnecessary follow-ups
• Calculate sales commissions in Dynamics 365/CRM and track when the money is received
• Make accurate forecasting.

Integrate Dynamics 365 tools for Sales, Customer Service, Field Service, Project Service Automation, Business Central, Finance and Operations, GP, and NAV, among others.

What and all Microsoft Dynamics CRM Information can integrate with QuickBooks?

Much of what can be combined with QuickBooks is determined by your Microsoft Dynamics CRM. The modules that are supported may differ from one provider to the next.

However, here are a few examples of what QuickBooks and Microsoft Dynamics CRM can generally integrate:

• Contacts
• Customer invoices 
• Quotes 
• Payment histories 
• Customer sales history 
• Accounts 
• Contracts 
• Product information
• Sales orders 
• Inventory 
• Leads 
• Company credit history 
• Your custom data 
• Fulfillment status 

Key Benefits:

Some benefits that one can derive from the integration of QuickBooks with Dynamics are:

1. Better and secure information flow

When QuickBooks and Microsoft Dynamics CRM are integrated, bidirectional information flow between existing Accounts, Contacts, and Products has resulted. It reduces the occurrence of duplicate data and improves data consistency across all business operations.

Information such as quotes, orders, overdue, invoices, and other items are immediately sent between Dynamics and QuickBooks. Users may integrate and streamline company operations with this automatic data exchange, resulting in better business performance.

2. Seamless tax synchronization & automatic calculation

This interface enables salespeople to calculate sales tax for quotations, orders, and bills directly within Dynamics CRM.

3. Customized Reporting

Integrating Dynamics 365 CRM with QuickBooks allows users to design dashboards based on their needs. In Dynamics, users can choose from a variety of dashboard formats or develop their own. Accounting dashboards have been dispatched to Dynamics 365 / CRM with the display of accounting transaction changes. Recent Transactions, Top Customers, and Open Invoices are all included.

4. Data Integrity

Microsoft Dynamics assists with the integration of existing accounts, contacts, and products into CRM and QuickBooks, not just to synchronize user data but also to ensure data integrity in both CRM and finance systems.

5. 360-degree view of customer accounting information augmenting the sales process

The sales team can have complete information about customer orders and payments by integrating Dynamics and QuickBooks. This continuous flow of data allows the Sales and Accounting teams to work together more effectively. As a result, the sales staff has access to accounting data from the customer's perspective.

Assist the sales team in creating better Customer Profiles and ranking customers in priority order. The information on this platform is updated in real time, allowing the Sales Team to make informed decisions and give the best possible client support.

6. Security

Even though data is synced across the two systems, Dynamics allows access to information to be controlled. Dynamics 365 improves data security by helping to prevent unwanted access to information.

The sales team was able to obtain invoices as well as aging data, which helped them minimize the cash conversion cycle and finally increase their targets, thanks to the integration with Dynamics 365.

Supported triggers and actions

Triggers

New Account Triggers when a new account is created.	New Lead Triggers when a new lead is created.
New Contact Triggers when a new contact is created.	Contact Updated Triggers when a contact has been updated.
New Opportunity Triggers when a new opportunity is created.	Opportunity Updated Triggers when an opportunity has been updated.
Lead Updated Triggers when a lead has been updated.
New Account Triggered when you add a new account.	New Bill Triggers when a new bill is added.
New Customer Triggered when you add a new customer.	New Estimate Triggered when you add a new estimate.
New Expense Triggers when a new expense is added.	New Invoice Triggered when you add a new invoice.
New Invoice Triggered when you add a new invoice (with line item support).	New Sales Receipt Triggered when a new sales receipt is added (with line item support).
New Payment Triggered when a payment is received (with line item support).	New Purchase Order Triggers when a new purchase order is added.
New Sales Receipt Triggered when a new sales receipt is added.	Updated Customer Triggered when an existing customer is updated.
New Vendor Triggered when a new vendor is added.

Actions

Create Account Creates a new account.	Update Account Updates an account.
Create Contact Creates a new contact.	Create Lead Creates a new lead.
Find Account Finds an account by name.	Find Contact Finds a contact by email address or other searchable field.
Update Lead Updates a lead.	Update Contact Updates a contact.
Find Opportunity Finds an opportunity by subject or other searchable field	Find or Create a Lead Finds a lead by email address or other searchable field.
Find Lead Finds a lead by email address or other searchable field.	Find or Create a Contact Finds a contact by email address or other searchable field.
Create Expense Creates a new expense using a check, cash, or credit card.	Find or Create an Opportunity Finds an opportunity by subject or other searchable field
Create Record Creates a Record	Find Record Finds an existing Record
Update Record Updates a Record
Create Bill (Item Based) Create a new bill, optionally tied to a customer.	Create Bill (Account Based) Create a new bill, optionally tied to a customer (with line item support).
Create Bill (Item Based) Create a new bill, optionally tied to a customer (with line item support).	Create Credit Memo Creates a new credit memo.
Create Customer Adds a new customer.	Create Estimate Create a new estimate (with line item support).
Create Time Activity Creates a new single-time activity.	Create Product/Service Creates a new product or service.
Create Journal Entry Creates a new journal entry.	Create Invoice Adds a new invoice (with line item support).
Create Sales Receipt Adds a new sales receipt (with line item support).	Create Payment Creates a new payment, optionally linked to an invoice.
Create Purchase Order Creates a new purchase order.	Create Refund Receipt Creates a new refund receipt.
Send Invoice Send an existing invoice.	Send Sales Receipt Send an existing sales receipt.
Find or Create a Customer Finds or creates a specific customer v2.	Update Customer Updates an existing customer.
Update Invoice Updates an existing invoice (with line item support).	Create Vendor Adds a new vendor.
Find Account Find an account by name.	Find Customer Find a customer by name or email address.
Find Invoice Find an invoice by number.	Find Product(s) Find a product by name (with line item support)
Find Vendor Find a vendor by name.	Find or Create a Vendor Finds or creates a specific vendor.
Find or Create Vendor Finds or creates a specific vendor.

Final Thoughts!

This blog is designed to equip you with the knowledge necessary to integrate QuickBooks with MS Dynamics 365/CRM. However, you may encounter technical challenges or require expert assistance to resolve any issues you might face. If the problems persist after trying the suggested solutions, we recommend reaching out to us. Our team of accounting experts and specialists is ready to assist you and provide the best guidance for integrating MS Dynamics 365/CRM with QuickBooks.