Quickbooks integration!® - Quickbooks users can integrate with ImagineTime and save time posting deposits and monthly journal entries.

ImagineTime can be made as powerful as any other professional billing software with Quickbook integration. The deposit export utility is a time-saving feature that is intended to export payment and/or credit information from the ImagineTime system to either a Quickbooks® import file or directly to Quickbooks using the accompanying Intuit software development kit.

As you can see, the deposit export routine depends on the cash basis of accounting in Quickbooks. For deposit amounts, it posts a debit to the cash account while posting a permanent or temporary credit for deposits.

The monthly journal entry can be printed from the summary screen shown below. The account distribution is based on a link between the work codes being used in the calendar management and time and billing system and the chart of accounts used in your general ledger software. It works in conjunction with the deposit utility, and can be manually posted or directly exported to Quickbooks. The entry assumes the accrual basis of accounting and adjusts the control account for accounts receivable to agree with the ending balance in the monthly ImagineTime subsidiary reconciliation report. It also includes all of the deposit export entries made during the month.

The printed journal entry may be used with any ledger system. This utility will save billing time and eliminate the separate step of needing to record deposits and end-of-month journal entries into Quickbooks. The tools shown below assume that the detail subsidiary account receivable ledger will be maintained in ImagineTime. Quickbooks should be set up and consolidated to draw from one detail accounts receivable account such as "CPA Fees.”