Connecting QuickBooks

Overview

The QuickBooks integration connects Formuley's cost tracking and revenue data to your accounting software, automating financial record-keeping and reducing manual bookkeeping. This integration is available on the Lab plan and above.

What Gets Synced

The QuickBooks integration synchronizes financial data from Formuley into your QuickBooks account:

Expense Data

Ingredient purchases and production costs recorded in Formuley are exported to QuickBooks as expense entries. This includes:

• Ingredient purchases -- when you record a purchase in Formuley (supplier, quantity, and cost), the corresponding expense is sent to QuickBooks.
• Batch production costs -- the total cost of goods sold (COGS) for each batch, calculated from ingredient costs and quantities used.
• Overhead and operating expenses -- any additional expenses you track in Formuley's expense entries.

Revenue Data

Sales and revenue data flows from Formuley to QuickBooks:

• Revenue entries -- sales data recorded in Formuley or synced from connected ecommerce platforms like Shopify.
• Product-level revenue -- revenue broken down by product (formula) for detailed financial reporting.

Setting Up the Connection

1. Navigate to Integrations in the sidebar.
2. Find the QuickBooks card and click Connect.
3. Formuley redirects you to QuickBooks for authorization. Sign in with your QuickBooks credentials and approve the connection.
4. Once authorized, you are redirected back to Formuley with the integration active.
5. Configure your sync preferences, including which accounts in QuickBooks should receive expense and revenue data.

Automated Accounting Exports

Formuley runs automated accounting exports on a regular schedule. These exports package your financial data and push it to QuickBooks without any manual intervention. The export process:

1. Collects new expense and revenue entries since the last export.
2. Maps each entry to the appropriate QuickBooks account based on your configuration.
3. Creates the corresponding transactions in QuickBooks.
4. Logs the export result so you can review what was sent.

You can also trigger a manual export at any time from the integrations page.

Mapping Accounts

For accurate bookkeeping, map your Formuley data categories to the correct QuickBooks accounts:

• Ingredient purchases -- typically mapped to a Cost of Goods Sold (COGS) or inventory account.
• Production costs -- mapped to a manufacturing or COGS account.
• Revenue -- mapped to your sales income account.
• Other expenses -- mapped to the appropriate expense categories in your chart of accounts.

Review your mappings after initial setup to make sure transactions land in the right places.

Reviewing Export History

After each export, Formuley logs the results. To review:

1. Go to Integrations and click on the QuickBooks integration detail.
2. View the Export History section to see each export's date, status, and the number of transactions processed.
3. If any transactions failed, the log shows the error details so you can resolve the issue and re-export.

Tips

• Set up the QuickBooks integration early so your financial data stays in sync from the start. Backfilling historical data is possible but takes more effort.
• If you also use the Shopify integration, revenue from Shopify orders flows through Formuley and into QuickBooks automatically, giving you a complete picture from production through sales to accounting.
• Review your QuickBooks account mappings quarterly to ensure they still align with your chart of accounts, especially if your accountant makes changes.
• For details on tracking ingredient costs within Formuley, see Cost Tracking Setup. For ecommerce integration, see Connecting Shopify.