This guide will be useful for those with the Quickbooks Online integration.  Quickbooks Online (QBO) is integrated with the Nude Platform IF you have this feature set up.

 

This is a one way integration, meaning that transactions go FROM Nude to QBO, but they are not received back from QBO.  So if you transact in QBO it will not reflect in Nude.

 

The transactions will be integrated from Nude to QBO per transaction (previously QBO only offered as a batch).

 

Please refer any QBO questions (those queries about their website processes, accounting or their functions),  to the support/help on their website. 

 

Here are some tips on using QBO with the platform. 

 

 

Outstanding balances in bond

 

• Previously, any ‘outstanding balance’ in bond was marked as outstanding balance and an email was sent to the client on the 1^st of every month advising of the balance owing. This will no longer occur.

 

• The user will now be required to ‘waive’ the balance owing with a reason of ‘Goodwill’ or ‘Cannot collect’.

 

• Journal entries will be created accordingly. Please refer to - Chart of Accounts - Write off for more information.

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• Previous balances that were marked “Outstanding Balance” will be changed to “Waived” with reason “Cannot Collect” and the associated journal entries will be created.

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• ‘Outstanding Balance’ emails will continue to be sent on balances written off with the reason cannot collect. If a customer contacts the brokerage wanting to pay the balance, it can be set to unpaid and the payment processor will be initiated that evening. If they would like to pay offline (email, cash, cheque) then the ‘Paid’ option can be selected and the payment method documented.

 

 

 

QBO and reconciliations in black

 

When you are reconciling your accounts payable OR employee commissions in black, you will reach the Completed, Not paid section which is where you will need to go to your QBO account to complete payment.

 

• As you select Complete in the Reconciliation (AP or Employee Commissions), the transaction (now there is an integration) will feed the amount to QBO. 

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•  A Bill Payment will be created in QBO.  You can see that by accessing Recent Transaction in the QBO website. 
• The Recent Transaction section is found by using the Search feature, shown here:

 

 

 

OR - In QBO, Select Action – Print Cheque. (You do not have to use a Cheque, you can input the the EFT # or Wire or Payroll Reference #).  Shown here:

 

• This section opens:

 

 

• From the Cheque Preview Menu you can print or download a pdf. Once Printed you can void or delete using the same menu accessed from Expenses on the sidebar or using the Search feature.

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• You can now go back to Nude and the black module and Mark the Completed as Paid!

(as mentioned at the top of this article - This is a one way integration, meaning that transactions go FROM Nude to QBO, but they are not received back from QBO.  So if you transaction in QBO it will not reflect in Nude). Hence having to back and mark as paid.

 

 

 

 

If you do require further assistance in regarding to the workings within the Nude platform or a bug/system error, please submit a ticket to Support and put QBO at the start of the subject line.