Integrating QuickBooks Online (QBO) with MVMNT streamlines your accounting process, ensuring seamless financial management. Here’s a simple guide to get you started.
Step 1: Enable QuickBooks Integration in MVMNT
Go to the "My Brokerage" section in MVMNT.
Under the "Settings" tab, navigate to "QuickBooks Online"
Click "Connect to Quickbooks" where you will then be prompted to enter Integration Details.
You’ll need to provide your QuickBooks "Client ID," "Client Secret," and "Realm ID." Not sure where to find these?Follow this QuickBooks guide.
Step 2: Map Your MVMNT Charge Codes to QuickBooks Items
Carefully link each MVMNT charge code with the corresponding item in your QuickBooks account to ensure accurate financial tracking.
Step 3: Manage Your Contacts
Shippers as Customers
First Invoice Creation: When you invoice a shipper for the first time, they automatically become a “Customer” in QuickBooks.
Linking Existing Customers: Already have the shipper in QuickBooks? Simply link them in the “MVMNT Customer Profile” to avoid duplicates.
Carriers and Vendors as Vendors
First Payment: Upon making a payment to a carrier or vendor for the first time, they are added as a “Vendor” in QuickBooks.
Linking Existing Vendors: If they're already in QuickBooks, just link them in the “MVMNT Carrier Profile” to avoid duplicates.
Step 4: Handling Accounts Payable (AP) and Receivable (AR)
Accounts Payable
Invoice to Bill: An AP Invoice in MVMNT becomes a Bill in QuickBooks.
Payment Recording: Once the bill is paid in QuickBooks, MVMNT records the payment, updating the AP status to "Paid."
Accounts Receivable
Invoice Creation: An AR Invoice in MVMNT translates into an Invoice in QuickBooks.
Credit Memos: An invoice with a negative total becomes a Credit Memo in QuickBooks.
Payment Application: Applying payment in QuickBooks records the payment in MVMNT, updating the invoice status accordingly.
This guide should simplify the process of integrating QuickBooks with MVMNT for your brokerage. If you have any questions or need further assistance, don’t hesitate to reach out for support.