PropertyBoss QuickBooks-Simple: Simplifying Cash-Basis Accounting
Two interfaces are available between QuickBooks and PropertyBoss: QuickBooks-Detail
and QuickBooks-Simple. QuickBooks-Simple allows cash-basis clients to
use QuickBooks as a checkbook only, with PropertyBoss providing your
reporting needs.
What are the differences between QuickBooks-Detail and QuickBooks-Simple?
QuickBooks-Detail: Supports accrual clients and cash-basis clients. It is
designed as a full accounting interface - to map all PropertyBoss transactions
to your Chart of Accounts in QuickBooks. To use QuickBooks-Detail, you first
set up your Chart of Accounts in QuickBooks. You import the Chart of Accounts
from QuickBooks into PropertyBoss and map your PropertyBoss transactions to the
corresponding QuickBooks accounts.
In addition to PropertyBoss reports, QuickBooks accounting reports provide
detailed breakdowns on income and expense. Because you use reports from both
systems, QuickBooks-Detail locks PropertyBoss transactions when they are sent
to QuickBooks to prevent inconsistencies between PropertyBoss and QuickBooks.
(Corrections require transactions to be reversed and the money re-applied.)
QuickBooks-Simple: Supports cash-basis clients. QuickBooks-Simple uses
selected features within QuickBooks for checkbook purposes only (handling
checks and deposits). PropertyBoss provides reports for accounting purposes.
QuickBooks-Simple minimizes the time and effort to set up the accounting
interface – deposits are sent to Undeposited Funds and Management Income while
checks and bills are recorded in Management Expense. QuickBooks prints checks
for distribution.
Note: With QuickBooks-Simple, PropertyBoss transactions are not locked when
they are sent to QuickBooks. You can re-apply money on your PropertyBoss
transactions as needed until you close the period in PropertyBoss.
Benefits of QuickBooks-Simple:
- Supports cash-basis clients
- PropertyBoss transactions are not locked when they are sent to QuickBooks
- Minimal set-up for QuickBooks
- Eliminates duplicate information in two systems
- Simplifies balancing procedures between PropertyBoss and QuickBooks
Changing to QuickBooks-Simple is easy. Just change the drop down on your
accounting file from QuickBooks-Detail to QuickBooks-Simple. No other setup
changes are required.
To determine if QuickBooks-Simple is the answer for your business, contact
PropertyBoss Customer Care or your
Account Specialist at (864) 297-7661.
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