Make your accountant's life easier by connecting QuickBooks Online (QBO) to Thrive for automatic nightly invoice reports.
Now, you can stop worrying about how to sync your sales channels to QuickBooks Online and focus on your customers.
QuickBooks Online syncing is included with Professional plans and above.
Chat with us for a free 14-day trial and complimentary video call to see if the Professional Plan is right for you.
Or on any other plan as a Billing Add-On for $30/mo or $300/yr ($25/mo)
NOTE: We sync exclusively to QuickBooks Online. Products like QuickBooks Desktop or QuickBooks Enterprise are not supported at this time.
FAQs
"Why is Thrive's QuickBooks integration messing up my General Ledger/Profit and Loss Statement/Transaction Reporting?"
Great question. That is likely because you are not deleting the invoice sent over to QuickBooks by Thrive. Once you have reviewed the invoice from Thrive and posted the sales numbers to the appropriate line items, you should delete the invoice. This will fix the reporting "errors" you see.
"Will Thrive's QuickBooks integration automatically make journal entries for me in QuickBooks?"
No, Thrive won't make journal entries in QuickBooks. However, if you notice you have incorrect financial information and drill down to see that Thrive is the cause, that is likely because you have not deleted the invoice Thrive sent to QuickBooks.
"How do I map my chart of accounts to Thrive?"
You cannot map your chart of accounts to Thrive at this time. Please let us know if this is a feature you would like to have!
"Can I map my sales from Thrive to my QuickBooks account?"
Not at this time. Thrive's QuickBooks integration simply sends over a summary of your sales information in the form of an invoice. You are then responsible to review that invoice, make the appropriate journal entries, then delete the invoice. We recommend you do this daily or weekly.
"Why do you send over the previous day's sales information as an invoice?"
QuickBooks makes it easier for us to work with their invoicing. Think of the invoice Thrive sends over as a "report". You review the "report" we send over, make appropriate journal entries, and then delete the "report" (invoice).
"If Thrive doesn't automatically post to QuickBooks, what is the benefit of using the integration?"
Many times accountants/bookkeepers/CPAs do not have access to Thrive, but they do have access to QuickBooks! Setting up this integration will make it easier for your bookkeeper to see the numbers they need for your accounting. This will save them time and will save you money! We simply recommend you share this help article with them before turning on the integration.
Since each business has a unique chart of accounts, we cannot help when mapping the reported sales numbers in QuickBooks. That job is best suited for your CPA or bookkeeper since you will have more intimate knowledge about your financials. Thrive simply sends an invoice to QuickBooks which you are then responsible for posting the numbers to the correct line items. Once you have made your journal entries in QuickBooks, you should delete the invoice Thrive sent.
With QuickBooks, Thrive will send an invoice daily with the numbers and information outlined in the following section.
What we send out
Each day, for each location, Thrive will automatically send over:
(1) Transaction information in an invoice, including:
Net Payments
Shipping (if applicable)
Tax Collected (if applicable)
Total Refunds
(2) Summary data in an invoice, including:
Total Cost of Goods sold (COGS)
Total Discounts
Total Fees
Gross sales
Net sales
Profit
Refunds
Shipping
Tax Collected
Tips
As well as the following for each category:
COGS
Discounts
Net sales
Profit
Refunds
(3) A payment for each integration and payment type, including:
Visa
MasterCard
Discover
American Express
Cash
Gift Cards
Refunds
NOTE: The payment type will be in the memo field at the end of the example, as shown above.
Thrive's entries will affect the General Ledger in QuickBooks if you do not delete the invoice we send to QuickBooks (refer to the FAQs section at the top), as each business does things a little differently. We simply push the sales information and allow you to allocate the sales numbers according to your preference. Once again, Thrive cannot assist with this process, and it is best left to your CPA or bookkeeper.
To explain further, the data doesn't "map" - rather, we send the information over on an invoice broken out by location/category/tender type/etc. That information will sit on the invoice until you post the numbers to the appropriate line items on your chart of accounts. Once the numbers are manually moved, you'll want to delete the invoice we sent over so it doesn't show up in your Accounts Receivable section.
Things to Note:
This is only for QuickBooks Online. Products like QuickBooks Desktop or QuickBooks Enterprise are not supported.
Sales reports are only sent from the day Thrive was connected going forward. We do not send information on prior dates to QuickBooks.
WooCommerce sales are included in the QBO Summary invoice, but is not included in the Sales invoice. This is because of how we receive data from WooCommerce.
We report refunds to QuickBooks on the day they happen, whereas our Sales Reports get attributed back to the original receipt.
Net Payments (on QuickBooks) equals Net Sales (on Thrive) minus any transaction or processing fees from your integrations.
QuickBooks will NOT count towards your plan's location/integration limit.
Invoices are sent between 2 a.m. - 4 a.m. (in the account owner's timezone)
Purchase Order information and inventory data are NOT sent to QuickBooks
Thrive does not have any part in bill pay functions
Each location will have a separate invoice broken out.
QuickBooks Online offers no trial unless you are trialing the Pro+ plans.
The Billing Add-On is not removed if you disconnect the QuickBooks Online integration. You will have to visit the Billing settings in Thrive to stop any further billing for an Add-On.