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QuickBooks Online: Payment Integration

This article outlines how to set up your solution to support the integration of payment information from YayPay to QuickBooks Online®.

This integration occurs soon after a payment attempt has been made in YayPay and validated by the payment processor to be successful.

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Note

The outlined setup builds on what is summarized in the Payments Overview article.

For more information on using YayPay for payments, refer to https://yaypay.helpjuice.com/payments.

1. Preparing QuickBooks Online Prerequisites

To set up QuickBooks Online® for payment integration with YayPay:

  1. Make sure the QuickBooks Online® user you are using in YayPay to connect to QuickBooks Online® has the admin rights. This will grant YayPay access to the company's data via API.
  2. Be aware that the option to automatically apply credits to open invoices is on by default. If you want to turn it off and choose how to apply credits, do the following in QuickBooks Online®:
    1. Click the Gear icon in the upper-right corner of the screen.
    2. Select Account and Settings.
    3. Select Advanced.
    4. Disable the Automatically apply credits option under Automation.
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Warning

QuickBooks Online® limits the creation of invoices and payments to the customer currency configured upon the customer creation. While attempting to create a payment transaction with a different currency and exchange rate, QuickBooks Online®'s API returns an error even if multi-currency is turned on for the whole business.

2. Creating and Sending Payment Information to QuickBooks Online

Configure YayPay to create and send payment information to QuickBooks Online®:

  1. Connect YayPay to QuickBooks Online® by following the instructions in the QuickBooks Online: Configure Account for YayPay Integration‍ article.
  2. Contact support@yaypay.com or your YayPay account rep to activate the basic Cash App module‍ for you.

3. Selecting Accounts to Create Payments

Configure YayPay to send card and ACH payments to a specific checking account:

  1. Go to Settings | Business in YayPay.
  2. Select the appropriate account in the Default bank account for ACH and Default bank account for CC drop downs.
    YayPay sources the available drop down values from the connected instance of QuickBooks Online®.
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Note

  • YayPay removes inactivated accounts during the hourly syncs.
  • The General Ledger (GL) account field is not mandatory when pushing payments. If this field is left unspecified, the payment will be automatically applied to the Undeposited Funds account.
    Furthermore, the process of pushing payments to an account must comply with QuickBooks Online®'s requirements. Payments can only be created for accounts that are classified as either Other Current Asset or Bank. As such, only these types of accounts are available for selection in the Cash App's drop down list of bank accounts.

Handling Undeposited Funds

In QuickBooks Online®, only one Undeposited Funds type account can exist. This implies that if a user selects the Undeposited Funds account for a payment in YayPay's Cash App module, the payment will be pushed to that account.

4. Mapping Payment Methods

Map the payment methods used by YayPay's Cash App module to the payment methods synced from QuickBooks Online®:

  1. Go to Settings | Business in YayPay.
  2. Use the Payment Types Configuration table to configure the mapping.
    For example, configure the default credit card to be used for payment pushing.

5. Viewing Payment Information in QuickBooks Online

YayPay includes a specific reference (an external ID) in the payments that it creates. It uses this ID to sync payments when attempting their creation in QuickBooks Online®. This ID is crucial for mapping payments from the Cash App to the ERP system. That is why you should not alter the Reference no. field once QuickBooks Online® receives the payment.

Handling Credits

You cannot create payments (in YayPay's Cash App) that are only allocated to credits. When you start the payment creation, the system prompts you to enter a payment amount, which does not relate to credits.

As a result, the customer's Statement page in YayPay shows separate records for credit and debit payments. In contrast, QuickBooks Online® lists such payments as a single, consolidated record where the header displays the debit payment, with the used credits listed under the paid invoices.

When creating payments in QuickBooks Online® and allocating credit funds, QuickBooks Online® gives priority to credit funds over debit. So, if the credit is enough to cover the applied amount, the debit funds stay unallocated. If you apply credits to pay for multiple invoices while one of the credits is sufficient to cover the invoices, the system ignores the other credits.

Handling Closed Invoices

QuickBooks Online® does not prevent the creation of payments for already closed invoices. However, this means that the system does not repeatedly pay the invoice, leaving the payment without any allocated invoice. YayPay's  QuickBooks Online® connector fails such payments when attempting to push them.

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