Increase accuracy and save time when importing TC Reports into QuickBooks.
Having the right tool in the tool bag can make any task more efficient—saving you time and money. We are happy to introduce you to one of our partners who have created a handy tool that can make importing TC reports into QuickBooks a whole lot easier!
Big Red Consulting, a non-affiliated third-party partner, offers a tool called IIF Transaction Creator. The IIF Transaction Creator helps you import most transaction types from Excel into QuickBooks. As an Excel add-in it integrates with Excel and is available directly from its menus.
Importing TC Vault™-generated reports into QuickBooks® requires the reports to be converted to an IIF (Intuit Interchange Format) file, which is proprietary to the QuickBooks program.
Although file conversion can be accomplished manually, a third-party product, such as IIF Transaction Creator, helps make the process more accurate and efficient.
How it works
Outputting a report from the TC Vault and importing into QuickBooks takes just a few basic steps.
1. Within Dynamic Reporting, rename a few fields to align with the QuickBooks naming convention and export the report to a CSV file.
2. Populate three columns with the specific static information QuickBooks uses to identify the transaction type (Payment, Undeposited, and Accounts Receivable) and create the IIF file using the IIF Transaction Creator add-in.
3. Upload into QuickBooks. (Be aware, if client names don’t match exactly, you may need to work through a few additional steps.)
Within Dynamic Reporting, you can create and save reports in the TC Vault that generate conversion-ready CSV files to run on-demand or at a scheduled time. You can also e-mail your reports automatically to a list of recipients.
Advantages of uploading vs. using a plug in
As an alternative to using a QuickBooks plug-in, an upload tool has many benefits.
- Because you are not accessing payment options directly from within QuickBooks, not all users will need a QuickBooks license—saving you money on licenses and annual and/or monthly plug-in fees. Your group of users can accept payments via the TrustCommerce virtual terminal and accounting can import the transactions into QuickBooks.
- Reduces risk of errors in the transactions with non-accountants posting to your books. With this method, the accountant has ownership of the process and can upload the file. In addition, the TrustCommerce virtual terminal supports role-based user management. For example, administrators can set permissions that only allow virtual terminal users to process “preauth” and “sale” transactions.
- Supports payment acceptance from a variety of entry points, such as onsite, online, telephone order, mail order and mobile. Simply upload the transactions into QuickBooks all at once.
Through a special offer for TrustCommerce clients, Big Red Consulting is offering a 15% discount to purchase their product, the IIF Transaction Creator. To purchase the product, or for more product information and support, go to Big Red Consulting’s Web site.
Take advantage of this special offer by signing up for TrustCommerce’s services today or if you already have an account with us, access the discount code located in in the QuickBooks news item on the TC Vault home page.