How can I import my transactions to QuickBooks?

Roman Vomacka
  • Updated

💡Need help matching your bank transaction line items to your Hemlane transactions and eliminating the need for Quickbooks? Click here to view an article with more information

There are two options to get your Hemlane financial data into QuickBooks:

  1. Syncing your bank account to QuickBooks - recommended! 
  2. Downloading the Hemlane data and importing (uploading) it into QuickBooks 

⚠️ A very important note! You should be cautious to avoid double entry and perform both options. The best plan is to select one of the two options.

 

Option #1: Syncing your bank account to QuickBooks

  • Pro: Any automatic payment from Hemlane will automatically load into QuickBooks through your bank account.
  • Pro: To classify payments at the property or unit level, you can create a QuickBooks rule which will match the bank text provided by Hemlane to the correct property or unit.
      • Please note: the option to classify payments at the property level began on June 15, 2022. Payments prior to this date may not have a consistent reference ID

Hemlane has created reference IDs for each of your properties or units to help you quickly identify transactions within QuickBooks by creating a QuickBooks Rule.

Within Hemlane, your Reference ID (REF-) will begin with 3 alpha-numeric characters which you'll use to match transactions on your bank statement to a specific property or unit. Please note, your bank statement may state Stripe, such as "Stripe 2M4".

For example, the screenshot below shows that every Reference ID that starts with "2M4" is associated with the property at 123 Thorntree Drive:

   

You can create a rule within QuickBooks which will then automatically categorize any payments with the same first 3 Reference ID characters as the correct property. Please be sure to use the "Bank text" option when creating this rule:

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For detailed instructions on how to create a new rule to categorize your online transactions within QuickBooks, please visit their article by clicking here. 

 

Option #2: Downloading Hemlane transactions and importing to QuickBooks

  • Pro: When you import (or upload) the data into QuickBooks, you can select the field mapping and automatically get the property and unit information synced by your QuickBooks class codes. 
  • Con: In order to automatically upload, you need to use a QuickBooks App that imports CSV files. These apps are roughly between $10 - $20 per month. 

Here is the process on how to import your transactions to QuickBooks:

Step 1: Click "Financials" on the left panel

Step 2: Click "Download" towards the middle-right side of your screen

Step 3: Use a QuickBooks Importer App to upload the transactions.
These tools will allow you to map the columns on the Excel (or CSV) file to certain fields, including Class tracking. It will allow you to get your reporting at a property and/or unit level.

Here are some ProAdvisor Pick QuickBooks apps you can use:

  1. Excel Transactions Importer and Deleter 
  2. Transaction Pro Importer/Exporter 

Note: To map the property information from Hemlane to your QuickBooks Class tracking, you can do a VLOOKUP and replace the property address with the specific QuickBooks Class tracking.

 

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