888.669.2669QuickBooks Integration Overview
IN THIS ARTICLE:
What Is It?
DealerCenter’s QuickBooks integration takes your transaction entries from DealerCenter and convert them to journal entries that can easily be posted directly to QuickBooks.
A journal entry is simply the recording of business transactions for the accounting books of your business. This record of a transaction including things like the date, amounts to be debited or credited, and a description of the transaction.
These transactions are seamlessly sent to QuickBooks in the form of journal entries so you can use QuickBooks as your primary accounting system.
How Do I Get Started?
One of QuickBook Integration Specialist will work with you and your accountant to set up this integration.
1. Contact your DealerCenter rep to get signed up.
2. Once you're signed up for DealerCenter Accounting w/QuickBooks one of our QuickBook Integration Specialist will contact you to start the setup process.
3. Our QuickBooks Integration Team will assist with:
- Linking the DealerCenter with to your Online QuickBooks file
- Setting up the chart of accounts
- Contact the QuickBooks Integration Team: 888-669-2669
Account Mapping
Connect with a DealerCenter QuickBooks Specialists
Once again, we recommend that you work with of QuickBook Integration Specialist in junction with your accountant to set up your chart of accounts and mapping. This information below provides general information about mapping and new options for mapping/posting.
Select Individual Costs
We have added the option to allow you to group costs on a sale together. Costs in the same group will be posted to the same account.
If you like to post a certain cost on sale to a different account, simply uncheck the box and change the mapping. The deselected account will create its own accounting entries separate from the grouped accounts.
Ex. Flooring cost can be posted to different account.
Ignore Specific Accounts
We have added the option to allow you to group costs on a sale together. Costs in the same group will be posted to the same account.
The option to the right has a box that can be checked if the account is not being used. This causes the DealerCenter system to ignore the account and stop it from creating accounting entries. If the box has been checked and it is decided that that account will need to be used, simply uncheck the box and it will make the account active and usable.
Transportation/Other Fees in Wholesale Deals
2 new fees in wholesale deals and accounting options for those fees are available:
Consignment
There are additional options for setting a vehicle up for consignment and updated the accounting as well on Consignments.
When setting up a Consignment, select Purchase Type and Purchase Source as Consignment.
You can setup the Consignor as a Customer or Vendor. Select Switch to Customer to switch from a vendor to a customer by clicking on that section and pick the right Consignor.
The Consignment Amount can be changed at any time, even if the car has been sold. The consignment amount will feed into the Vehicle Cost.
For example, Consignment cost is $1200 and Recon/Adds is $200 making the total cost $1400.
There are now accounting entries that get created for consignment vehicles. There will be no entries for the consignment amount on the inventory, because the consignment is not an asset to the dealership. There are accounting entries for the $200 Recon/Adds.
Once the consigned vehicle is sold there will be accounting entries added for the consignment. The cost account will be debited, and the payable account will be credited. This happens so that you can pay the customer/vendor for the consignment amount. If the vehicle is sold for more than/less than what you have set up for the consignment amount, you can always go back into purchaser’s info and change the consignment amount.
You can setup chart of accounts for consignment under sales in the mapping section.
The Purchase History report lists all the consignment:
Additional Resources and Documents
We've created support guides to provide you more help for specific scenarios, for example, using QuickBooks with DealerCenter flooring. Click links below to download the PDF support document: