Report settings for ACCRUAL and CASH for better integration w/QBO. | Voters

Report settings for ACCRUAL and CASH for better integration w/QBO.

Michelle Guillet

My Bookkeeper and I were hoping to have more settings and customization for accounting/bookkeeping features w/Moxie! It would be great if we could pull reports in accrual instead of cash as right now it's very limited on the reports we can pull and it doesn't match up w/QBO.

October 10, 2024

Sharai Dawn

Accrual vs cash accounting are accounting standards. Without this feature, the Quickbooks integration is useless for anyone who uses Accrual accounting as everything has to be manually calculated anymore.

Geoff Mina

Sharai Dawn: You can trigger each installment of the payment plan to generate the standard invoice, which will sync to QBO.  
The payment plan is just an automation that determines when the future payments will be requested from the client.
The individual invoices are what actually sync to QBO.

Sharai Dawn

Geoff Mina I moved from Dubsado and its integration syncs one invoice to Quickbooks, regardless of payment plan or PIF, and then recognizes each individual payment against the invoice. This is ideal, or at least ideal to be able to specify this functionality for the integration. I've attached a screenshot of what I'm expecting.

Since moving to Moxie, Quickbooks now gives me 0 visibility as to what is "booked"/invoiced vs what has actually been earned/accrued under accounts receivable. The only data that syncs/exists in Quickbooks now are Moxie payments only - which generates a new invoice every time. This lack of master invoice-->payment relationship takes away my ability to forecast in Quickbooks and see what is overdue/upcoming etc..

Geoff Mina

Sharai Dawn: That's correct. We have a different model than Dubsado in this scenario. The Moxie bookings page will show potential future income, but the QB sync won't send anything over until the actual invoice is created.

Sharai Dawn

Geoff Mina  Right, and this is my point in how this QBO sync does not support best practices for accrual accounting.  I invoice a client today due today for 1K but net 30 terms, I have accrued/earned 1K in revenue. This should be reflected in QBO immediately.  Then when payment is actually paid within 30 days, it's supposed to be an adjusting record in QBO. This represents proper double entry accounting.
So for instance, the accounting issue with this model is I could issue an invoice for Dec 31, and it's not paid until Jan 1st. Well the Moxie-->QBO sync will generate a QBO invoice on Jan 1st, which reporting purposes recognizes the revenue in 2025, when it should have actually been 2024 revenue. 
Since Moxie is a different "model" - does this mean the main thread request here cannot be accommodated?  QBO sync won't/cannot be modified to allow the differentiating between when invoices are created and when payments are actually made for accurate QBO reporting?