QuickBooks Magento 2 Integration

QuickBooks seems to be fantastic accounting software, with several useful features that help to improve the efficiency of financial procedures. Among them, its integration feature aids in the connection of various software with QuickBooks, such as Magento. Using technology like PowerSync, you can link QuickBooks with your Magento store.

You can connect your Magento 2 store to your QuickBooks account and automatically synchronize information such as customers, products, sales, and invoices with QuickBooks Magento 2 Integration. As a result, you'll be able to more efficiently manage accounting data. The below write-up will describe how to integrate QuickBooks with your Magento store using PowerSync, as well as the advantages of doing so.

What is QuickBooks?

Full-featured financial and company management software, QuickBooks provides complete accounting solutions. QuickBooks has three different versions of accounting software desktop, online, and cloud-based solutions for tracking all financial information and creating reports for every part of the business.

QuickBooks Software has various features like Electronic payment functions, mapping features, remote payroll assistance, remote access capabilities, and outsourcing, online banking and reconciliation, better mail functionality with Microsoft Outlook. QuickBooks, which was created by Intuit is popular among medium and small size businesses.

What is Magento 2?

Magento 2 is the latest upgraded version of Magento 1. It was released by the developers. The system is periodically updated, with Magento 2 being one of the biggest updates so far. In 2015 Magento 1.x versions, were troubling some of the issues. Magento announced the introduction of Magento 2 in 2015 to resolve issues.

Magento 1 merchants were encouraged to upgrade to Magento 2. Magento 2 is a Better, quicker version of Magento. After seeing complaints and comments, the developer stripped the platform down and rebuilt it. The end of June 2020 Marked the formal end of Magento's support for Magento 1. This means Magento will not launch more patches or updates for Magento 1.

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What exactly is PowerSync, and what are its features in QuickBooks Magento 2 integration?

PowerSync:

PowerSync is one of the most popular tools for connecting QuickBooks to Magento 2 and vice versa. It refers to software that automates the syncing of total tax rates between Magento 2 and QuickBooks.

Features of Magento 2 Integration by PowerSync in QuickBooks:

• You only need to enter data once, and then it will automatically sync with any updates.
• If irrelevant or duplicate data entries are discovered during the manual entry process, it is deleted.
• Customer Addresses Support and Integration Permits
• Payment, product, and invoice integration are all possible.
• All Magento payment methods are supported.
• It is compatible with virtual products.
• It enables real-time tax synchronization.

Steps for QuickBooks Magento 2 Integration

• Choose an Integration Tool: Select a reliable third-party integration tool compatible with both QuickBooks and Magento 2.
• Install the Integration Tool: Follow the instructions provided by the tool provider to install and set up the integration software.
• Connect Magento 2 to QuickBooks: Log in to both platforms and authorize the connection between your Magento 2 store and QuickBooks account.
• Map Data Fields: Match data fields (such as customers, products, and orders) between Magento 2 and QuickBooks for accurate syncing.
• Configure Settings: Set preferences for data synchronization, including frequency, direction, and specific data types to sync.
• Test the Integration: Perform a test run to ensure data flows seamlessly between Magento 2 and QuickBooks.
• Start Syncing Data: Begin syncing real-time data, such as sales, inventory, and invoices, between the platforms.

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How does it work with QuickBooks?

When using QuickBooks Online with the Magento 2 platform, close the gap to ensure accurate and thorough accounting. The data recorded in Magento flows effortlessly into QuickBooks Online, allowing your accounting staff to capture business-critical data.

Exclusive Features 

Here are the complete features of Magento Integration by PowerSync in QuickBooks:

• Synchronize Sales Revenue 
  • Sync your Magento 2 store's revenue with QuickBooks Desktop.
  • When a new transaction is made on Magento 2, update the revenue.
  • Allow merchants to monitor their business's performance.
• Synchronize Shipping Fees 
  • The cost of shipping is separate from the cost of the products in the order.
  • As a separate item, sync the delivery fee from Magento 2 to QuickBooks Desktop.
  • Calculate sales revenue accurately by factoring in all fees.
• Synchronize Orders 
  • Orders made in Magento 2 should be synchronized to Sales Orders in QuickBooks Desktop whenever clients purchase products or services.
  • Payment methods, tax rates, shipping fees, and discounts may all be imported from Magento 2 Sales Orders to QuickBooks Desktop Sales Orders.
• Map Payment Methods with Deposit Accounts 
  • This integration enables businesses to connect payment methods between the Magento 2 backend and the QuickBooks page automatically. Merchants can keep track of the many payment methods that their clients employ as a result of this. By default, the extension comes with seven payment options:
    • Purchase Order 
    • Cash on Delivery 
    • Bank Transfer 
    • Check/Money order 
    • Credit Card 
    • Paypal 
    • Paypal billing agreement. 
• Synchronize Discounts 
  • When clients purchase a discounted product, synchronize the discount in Magento 2 with QuickBooks Desktop.
  • In QuickBooks Desktop, the product price is shown at a discounted price.
  • To guarantee that taxes are calculated correctly, discounts are synchronized.
• Track Revenue
  • When your invoices are paid, the plug-in will immediately update your profit and loss statement.
• Synchronize Products 
  • When an administrator creates a new product in Magento 2, QuickBooks Desktop creates a new product.
  • When admin edits product data in Magento 2, synchronize changes in QuickBooks.
• Synchronize Invoices 
  • When clients pay for things, create unpaid invoices and then receive payments in QuickBooks.
  • Payment methods, tax rates, shipping fees, and discounts can all be imported from Magento 2 invoices to QuickBooks invoices.
• Easy Setup and Connection Process

Customers can use QuickBooks Web Connector to set up the environment and map data fields from Magento 2 to QuickBooks Desktop, making it simple to link their QuickBooks Desktop account to Magento 2.

• Synchronize Credit Memos 
  • When merchants make a credit memo on the Magento site, QuickBooks creates a credit memo.
• High-quality Extensions & Services 
  • Software that is completely open source and adaptable.
  • Updates are always free.
  • Free assistance for 6 months.

PowerSync's functionality with Magento 2 and QuickBooks integration is as follows:

PowerSync's QuickBooks integration gives you access to the Magento 2 e-commerce platform, which allows you to connect your Magento account to your QuickBooks account. It ensures that data is of high quality and accurate. Through automation synchronization, the data is continuously entered into QuickBooks. It syncs data such as sales products, data, services, and customer information automatically.

PowerSync for QuickBooks Magento 2 integration plans include the following:

There are three different kinds of plans to choose from:

• Basic Plan 
• Business Plan 
• Enterprise Plan.

The following are some of the advantages of integrating QuickBooks with Magento to improve business productivity:

1. Improve your financial management

This robust Magento 2 integration helps vendors improve their financial management by automating the process of transferring entire data from Magento to QuickBooks and vice versa in real time. It reduces the time and effort required for manual data entry, error correction, and transaction data monitoring. For example, data updates from Magento are automatically updated in QB.

2. No barrier to the data for auto-synchronization

QuickBooks Magento connection allows for seamless synchronization and update of information and products, including both basic and complex data. Type sales, quantity on hand, type, name, and so on. It also supports a variety of product kinds, including service, inventory, and non-inventory.

3. Save precious time by automating workflow.
   

All accounting-related information, such as product details, payments, invoices, and customer basic contact information, is immediately synced and updated. Any additional data imported into Magento will be instantly placed into the respective fields in QB.

4. Ease of Listing

It helps you to publish items like pictures, PDFs, and more from QB to Magento stores. These listings can also be imported or exported in batches.

5. Automation is creating purchase orders.

This connection generates vendor emails and purchase orders automatically.

Conclusion!

The QuickBooks Magento 2 integration allows for synchronization of sales revenue, products, and inventory system modifications, among other things. So, using PowerSync, you can easily do the QuickBooks Magento 2 Integration.