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How can I map my chart of accounts for QuickBooks?

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Wodify’s integration with QuickBooks Desktop & Online allows you to map your own chart of accounts that will track your sales, sales tax, processing fees and cost of goods sold.

 

By default, Wodify automatically populates each account name for you. However, you have the ability to customize the chart of accounts.

 

Now matter which integration you are using (Online or Desktop), here’s how you can configure how you want the accounts to appear QuickBooks:

 

  1. From Wodify Admin, go to Financial > Settings
  2. Select ‘Integrations’
  3. Select ‘Edit’ next to QuickBooks Desktop Export
  4. Click into any default name, and customize it with your preferred account nameScreenshot_11_19_19__1_26_PM.png
  5. Select SAVE



Note: Are you a multi-location gym in need of separate account names for each of your gym locations?  Select ‘Overwrite’ on the right hand side of the integration screen to customize account names for a specific location.

 

Note:  When replacing the default account names with yours, the Account Types in your QuickBooks must match those in Wodify. Please be sure to have the following QuickBooks Account Types set up on your QuickBooks account.

Default Chart of Account

Quickbooks Account Type

Wodify Bank

Bank

Wodify Sales Tax

Other Current Liability

“All Revenue Categories”

Income

Wodify Fees: sub-accounts

Cost of Good Sold

 

 

Before exporting, you can also choose how you want to map each revenue category on your accounting exports or even add a new revenue category. By default, we’ll use the same label names that are already bootstrapped values in Wodify, like Membership Sales, Store Credit, etc.

 

Here’s how you can map a Wodify Core revenue category on the exports:

 

  1. Financial > Settings > Revenue Categories
  2. Click on a label name, like ‘Drop-in’ 
    1. OR Select ‘+ New Revenue Category’ to create a custom category like 'Unlimited Membership'
  3. Enter your Accounting Chart Account
  4. Select SAVE

 

Screenshot_11_22_19__11_46_AM.png

 

For Quickbooks Online users: Your next automatic sync will reflect any changes. 
For Quickbooks Desktop users: Now you’re ready to export a paid payout from Wodify Payments Payouts and import the IIF file into QuickBooks Desktop!


Tip:  A colon (:) in the account name will create a sub account on the export file. For example, 'Wodify:Fees' will have a sub account. To remove/add a sub account, simply remove/add a colon.

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