- Easily create 1099’s
- Data in QuickBooks is up to date and accurate
- Save time on manual data entry every month
The dotloop and QuickBooks Online Integration tracks entries and edits from the loop to QuickBooks Online in real-time. The sync can handle all transaction types of “sold,” “leased” or “done.” When your transaction is completed, the system already has gross commissions ready.
As the transaction progresses, the workflow updates when a deposit is created and synced in Quickbooks, making any further updates to closing date, loop name or commissions amount in dotloop. If, for example, an amount is entered in the earnest money field, it will sync to Quickbooks as a deposit. The user can select the Quickbooks account where the deposit is entered: title, escrow or trust, for instance.
This workflow will help you track the deposits you collect and log in dotloop. The amount you enter into Earnest Money Amount will create a deposit transaction in QuickBooks Online. Sync monitors Loops of all transaction types and statuses (with few exceptions below) and runs when you update information in your loop, which will let you update the deposit amount in dotloop and the update will automatically sync to QuickBooks.
When you setup the sync, select the “Deposit To” account. Usually this is your Trust, Title or Escrow account, and choose the “Associated Account”.
Then the sync creates a deposit, it will date it by “Contract Agreement Date” and add a loop name into Deposit Description and Memo to help you identify the deposit.
Here is an example of the QuickBooks Online Deposit Screen:
And don’t worry, sync only monitors your dotloop updates moving forward from the time you turn it on. It will also ignore archived loops and loops with closing dates older than two weeks. We’ve put these failsafe’s in on purpose to prevent the sync from un-intelligently duplicating your old data in QuickBooks.
Sync Commissions Income
This workflow will sync gross “Commissions” you receive from transactions and enter a deposit transaction in QuickBooks Online. This sync monitors Loops of all transaction types with status of Sold, Leased or Done, and only runs when your transaction reaches this status and your Gross Commissions are likely finalized. Once the deposit is synced to QuickBooks, updating your “Closing Date”, “Loop Name” or “Commissions Amount” in dotloop, will automatically sync the changes to QuickBooks.
As with the deposit syncing workflow, we’ve built in some fail safes to guard against un-intelligently syncing your old data to QuickBooks, and the sync will ignore any of your loops that were closed more than two weeks ago.
In Workflow Settings choose the “Deposit To” account and “Associated Account”. The Deposit will be dated “ Closing Date” and we’ll add the loop name into Deposit Description and Memo to help you identify them.
QuickBooks Deposit Screen:
Start setting up your dotloop & QuickBooks Online HERE and click on QuickBooks Online sync.
Click on Connect dotloop and log in to your dotloop account. When you see the message to authorize Apination to connect your dotloop account, click APPROVE.
Click on Connect QuickBooks Online and authorize access to your account. If you already use Apination to sync your QuickBooks with other apps, you can choose your existing connection.
Review settings, and select the correct dotloop profiles and bank accounts.When you are ready to start, click START
You're all set! Allow 15 minutes or so for the first sync to run. To monitor the progress, or make changes to the configuration of your integration, log in to your apination account here.
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