Infusionsoft is a solution well-known over the web and is used by many of the small and medium size entrepreneurs. Marketing is the function that Infusionsoft is performing for many of the small and mid-sized business and E-mail marketing to be very specific, well now the days has arrived and passed of smart technologies and people are marching with the businesses in their pockets and letters are transformed into e-mails, so e-mail marketing is also an important part of your business marketing strategy and Infusionsoft is the place where you get things done about it.
Not only that Infusion soft is also a CRM. In this article, I will not tell you about what Infusionsoft is for that you can visit their official website but I am going to tell you how to integrate QuickBooks with your Infusionsoft login and why it is necessary to integrate your Infusionsoft with QuickBooks. There is a need to integrate any application with your QuickBooks if it contains financial data about your business and also if the data has a good amount not only that if your data is not of good amount mean to say you just have dozens of customers still you want to automate all of your back office functions and want to capture more customers, so you must integrate your accounting solution with Infusionsoft as Infusionsoft is not only an e-mail marketing provider but also a CRM and CRM is what that may contain your customer information.
What Type of Financial Information a CRM (Infusionsoft) Contain
Whenever a customer initiate a query the CRM generates a Lead which is under consideration and throughout the process there could be different phases where that leads becomes an Order and ultimately that order becomes Sales and there will be an invoice or receipt for that particular invoice so here is the financial part of CRM which must be integrated with QuickBooks, as most of the CRMs are used by E-commerce businesses and there are large amount of small transactions for E-commerce businesses so these must be automated.
How to Integrate Infusionsoft with QuickBooks
The information source is Infusionsoft Help Centre
- Go to E-Commerce > Products and click on a product’s name to edit it.
- Go to the QuickBooks Information tab to enter:
- QuickBooks Product Name: The QuickBooks Product Name must exactly match the name or number you’ve assigned to the product in QuickBooks. It does not need to match the name of the product in Infusionsoft. The QuickBooks Name must have fewer than 31 characters.
- QuickBooks Account Name: The QuickBooks Account Name must exactly match the Account Name on your QuickBooks Profit & Loss report. Separate the Account and sub-account with a colon, no space (e.g. Office Expenses :Stationery & Supplies – Office Expenses is the Account, Stationery & Supplies is the sub-account). In some cases, you may have more than one sub-account (e.g. Services:Training:Classes – Training and Classes are both sub-accounts). Note: Sub-accounts are optional in QuickBooks. Your business may not use them.
- Save the product
- Repeat this process for the remainder of your products
Mapping of the Information being Integrated
- Go to E-Commerce > Settings and click on QuickBooks in the settings menu.
- Enter QuickBooks Account Names into Infusionsoft. These names must exactly match the account and sub-account names on your QuickBooks Profit & Loss Report. Separate the Account and sub-account names with a colon, no space (e.g., Initial Licenses:Infusionsoft.)
- Invoice Debit Account: Enter the name of the QuickBooks Account (and applicable sub-account(s)) that updates when a debit account is invoiced (e.g. Accounts Receivable). This account may differ based on your accounting method.
- Payment Debit Account: Enter the name of the QuickBooks Account (and applicable sub-account(s)) that updates when a payment is made to a debit account (e.g. Un-deposited Funds or a Bank Name.)
- Payment Credit Account, “Credit” Credit Account, and Refund Credit Account:Enter the names of the QuickBooks Accounts that update when there is a credit to Accounts Receivable. These fields determine what updates in QuickBooks when someone pays you (Payments Credit), you issue a credit to a customer (Credit Credit), or you issue a refund (Refund Credit).
- Credit Debit Account, Refund Debit Account: Enter the names of the QuickBooks Debit Accounts that update when there is a credit or refund to Accounts Receivable.
- Map the additional Infusionsoft Product Types (for Manual Orders) to QuickBooks. The default type is “Product.” This type maps to QuickBooks according to the information you entered into individual Product and Subscription records. When your team enters a manual order, they can choose from the following additional types: Unknown Type, Program, Shipping, Tax, Service & Misc. Upsell Product, Finance Charge, and Special.
- Use the remainder of the fields on this screen to map the additional product types. Each additional product section (e.g. Tax) has the following fields:
- Item Name Default: This will be assigned to all items that do not have a product item name in the actual line item of the order. (e.g. Shipping).
- Pass Item Description as the Name: Set to Yes if you want to override the Product Name and pass the item description to QuickBooks instead of the item name.
- Item Account Default: This field maps the item type (e.g. Shipping) to a QuickBooks Account. The account names must exactly match the account and sub-account names on your QuickBooks Profit & Loss Report. Separate the Account and sub-account names with a colon, no space.
Here in the Part 3: The information is provided if you invoice your customers you must provide a debit account meanwhile an AR account which is debited in QBO whenever an invoice is generated through Infusionsoft, you must also know that there is only one AR account in QuickBooks which is default made and it should be used for AR, but you can merge two different accounts if you wanted have multiple AR accounts.
Part 4: This part requires you enter your Bank Account as it is in QBO so when you receive an amount against any invoice the amount received is “debited”.
Part 5 & 6: This Part requires you to enter any Refund/Allowances account you have it could be a different account or it could also be your AR accounts depend upon how you want to treat that, if you use your default AR than a Refund will decrease or Credit your AR amount and if you keep separate account for Refunds that will be a Credit Balance Asset Account.
Part 7 to 10: All of the other Parts are require you to enter the information regarding how to map your expenses if any in Infusionsoft, if you are tracking expenses as “Items” in QuickBooks than apply Part 7 to 10 and make products here in Infusionsoft against all that expenses and if you track expenses through Accounts than you must add Accounts information as described above.