Export journal entries to QuickBooks DesktopLast updated on 03/22/2022
ServiceTitan offers the ability to export payments to QuickBooks as a journal entry, which is a Quickbooks transaction with debit and credit entries. Exporting payments with this designation is useful when issuing refunds, financing fees, and bad debt payment types.
Things to know
When setting your payment type to export as a journal entry, it will impact the account specified for both positive and negative amounts.
Exporting payments as a journal entry is not turned on by default.
You can create payment types in ServiceTitan for collecting funds, processing refunds, and other monetary situations. Before creating a negative payment type, determine which General Ledger Account to book and select the Export as a Journal Entry checkbox. If left unchecked, payments will export to your undeposited funds account in QuickBooks.
If you set your payment type to export as a journal entry, it will impact the account specified for both positive and negative amounts. Payment types commonly exported as a journal entry are:
Common use cases
The following setups are useful when configuring payment types and exporting journal entries.
Payment type setup
You have set up a payment type called "Cash." The default account QuickBooks sets for positive payments is undeposited funds. You do not need to specify this in ServiceTitan. This payment type is not set to export as a journal entry.
You also have set up a payment type called “Refunds.” For this type, you will need to specify an account. In this example, it will be your bank account called Wells Fargo. The payment type is set to export as a journal entry.
Using these payment types
Your customer pays your technician for a job in cash. Your technician records this as a "cash payment" on the ServiceTitan Mobile app and completes the job. When you export the payment to QuickBooks, it will increase (debit) undeposited funds and decrease (credit) accounts receivable. Once the cash has been physically deposited to your bank, you'll move the payment in QuickBooks from Undeposited Funds to your bank account.
Now, your customer has asked for a refund. You will create an adjustment invoice with a negative payment type using the refund payment type and a negative task. When you export this adjustment invoice to QuickBooks, it will export to the account specified in the Account field. In this example, it will export to your bank account, Wells Fargo. It will increase (debit) accounts receivable and decrease (credit) your bank account.
Export journal entries to QuickBooks Desktop
Go to the navigation bar and click the Settings icon.
In the side panel, click Invoice > Payment and Invoice Types.
Under Payment Types, find the desired payment type in one of the rows.
Click the checkbox next to Export As Journal Entry.
Important note: Some features may not be currently included in your account and additional configuration may be required. Please contact technical support for details.