RedTeam Flex can integrate with QuickBooks Online to provide a complete construction accounting solution for commercial contractors. RedTeam Flex is designed to handle all of your construction accounting including progress billing, construction payments, cost of employee time and expenses, and tracking Work in Progress ("WIP") in real-time. When integrated, QuickBooks Online can be used to make payments, record receipts, keep general ledgers, handle bank reconciliations, and produce periodic financial statements.
RedTeam Flex eliminates duplicate data entry by automatically inserting project-related transactions into QuickBooks Online, including new Customers, Vendors, Projects, Cost Codes*, Employee Time and Expenses, Customer Invoices, and Vendor Invoices. Transactions posted by RedTeam remain linked, so the latest information from QuickBooks Online (payments and receipts) will be reflected in RedTeam.
*Cost Codes are sent as Class Codes when using QuickBooks Online Advanced accounts only.
1. Preparations in QuickBooks Online
RedTeam is compatible with Intuit's QuickBooks Online "Plus" and "Advanced" Editions. These Implementation Instructions will help guide you through the process of connecting RedTeam Flex to QuickBooks Online.
Signup for QuickBooks Online “Essentials,” “Plus” or “Advanced” Edition
Login to your QuickBooks Online account and navigate to Settings (gear icon) > Account & Settings > Advanced and ensure that the Track Classes and Track Locations options are turned On
Navigate to Settings (gear icon) > Account & Settings > Expenses and ensure that the "Track expenses and items by customer" is turned On
Before connecting, ensure that your chart of accounts contains, at minimum, the account types listed below by navigating to My Apps > Accounting > Chart of Accounts and verifying that you have each of the account types listed below. While accounts can be named however you like, RedTeam Flex will need the required Account Type (Category Type) in order to connect its control accounts and send transactions properly.
Navigate to Settings (gear icon) > Lists > Products and Services and ensure that the Progress and Retainage items below exist
2. Activate the Integration
To connect to QuickBooks Online in RedTeam Flex click on the Apps Menu.
Click "Connect to QuickBooks" in the QuickBooks Online tile.
Fill in Sign in information to connect the QuickBooks Online account to RedTeam
The App card may show a message of "Temporary Outage" immediately after initiating the connection. Simply log out and back in to your RedTeam Flex database to verify that the app card now reads "Operational"
2. Configure RedTeam for QuickBooks Online Integration
After the QuickBooks Online app card is operational, Click on the card and follow the steps below to configure settings in RedTeam Flex appropriately for the integration.
Within the App Card, Control Accounts must be mapped to the accounts to configure QuickBooks Online for accounting integration. (unlinked accounts will show in red text)
The dropdown will list entries from your Chart of Accounts in QuickBooks Online. Select the appropriate account for each and enter a recognizable name for the account if needed.
Update or Create Company Credit Cards in RedTeam and link each to a corresponding Credit Card type account in QBO (unlinked cards will show in red text)
Update or Create Time and Expense Codes for Employee Time and Expenses and link each code to the appropriate account in QBO for overhead time and expenses (unlinked codes will show in red text)
If you plan to use tax venues to apply tax rates to customer bills, you will need to navigate to Configuration > Tax Venues and link each of your desired Value Added Tax rates to the appropriate Current Asset type account in QuickBooks Online
3. Considerations: When to start your Integration
Because RedTeam connects to QuickBooks at the transaction level, it is relatively simple to implement. If you currently use QuickBooks, you can start the connection between RedTeam and QuickBooks at any time, as the connection will simply replace manual data entry of project-related transactions. It should be noted that RedTeam posts transactions to your QuickBooks as they are committed in RedTeam, and linked transactions that are uncommitted in RedTeam will be removed from your QuickBooks.
Cases:
Transactions committed prior to the connection will have to be entered manually in QuickBooks Online (or must be uncommitted and re-committed in RedTeam Flex in order to send to QBO)
Entries in QuickBooks that existed before the integration will not be affected
4. QuickBooks Online Accounting Transaction Status Indicators
RedTeam should be considered authoritative on the status of any given Accounting Transaction (Customer Billing, Vendor Invoice, Employee Time, and Employee Expense). Once posted to QuickBooks, Accounting Transactions should remain synchronized. In the event an Accounting Transaction becomes out-of-sync, a Posting Error will be presented to authorized users as follows:
Steps:
1. Access the transactions menu to view transaction status.
5. QuickBooks Online Accounting Adjustments
As a practical matter, you should never alter transactions posted from RedTeam to QuickBooks Online, as this will cause a variance between the two systems. In general, when a transaction needs to be adjusted or corrected, it should be uncommitted in RedTeam, adjusted/corrected, and recommitted. This will ensure the two systems remain synchronized.
Steps:
1. Remove any payments in QuickBooks Online if they are connected to the transaction to be adjusted.
2. Uncommit transaction in RedTeam
3. Adjust or correct transactions in RedTeam
4. Recommit Transaction
5. Reapply payment in QuickBooks to transaction.
6. QuickBooks Online Transaction History
At any time, you may navigate to the QuickBooks Online App Card to see detailed Transaction Log with complete posting history, and to update the configuration of your connection between RedTeam and QuickBooks Online.
Steps:
Select Apps from the left side menu.
Click on the QuickBooks Online App Card
Click on the "Transactions Log" button at the bottom left of the page.
7. QuickBooks Online Integration Transaction Troubleshooting
Any Transaction Errors should be resolved prior to closing any Accounting Period. Click the Transaction Error Icon or simply navigate to Transaction Tab | Manage Transaction Errors to resolve any errors found. Use the following table to resolve each case.
Notes:
1. Upon Uncommit in RedTeam, all "Queued" Transaction Updates are Dismissed.
2. Upon Void or Delete in QuickBooks, Transactions are Unposted and demoted to Draft Status.
3. Draft or Cancelled Transactions that remain Posted are considered Accounting Transaction Posting Errors.
Notes:
1. Upon Uncommit in RedTeam, all “Queued” Transaction Updates are Dismissed.
2. Upon Uncommit, Void or Cancel in RedTeam, all “Posted” Transaction Updates are Deleted in QuickBooks Online.
3. Upon Void or Delete in QuickBooks Online, Transactions are Unposted in RedTeam.
4. Draft or Cancelled Transactions that remain Posted are considered Posting Errors.
5. Upon Commit Vendor Invoices in RedTeam, the Vendor Expense will be set with the Pay On Date a year from Invoice Date and the Payment Term will be set as “Pending Approval.”
6. Upon Execute Vendor Invoices in RedTeam, the Vendor Expense will be set with the approved Pay On Date.