We understand how much of a headache keeping your books accurate can be. That’s why we are taking care of reconciling your Pipe Capital advances payout and repayment in QuickBooks Online, so that you can focus on running your business and not on manually tracking the repayments.

Once your application for advance with Pipe Capital is approved and funds are paid out, we will increase the balance of your default checking account by the amount of the advance.

We will also automatically create a new account in QuickBooks Online's Chart of Accounts - a liability account for recording the amount of your advance (and how much you have left to pay against the balance).

In addition to this main account, we will automatically create an expense and an asset account to fully and diligently reflect the transfer of funds throughout the process.

When your application for advance with Pipe Capital is approved, you'll see a new liability account in your Chart of Accounts.

As mentioned above, when funds are paid out by Pipe Capital, we will increase the balance of your default checking account by your advance amount.

If we use the example above, the balance of your checking account would increase by $2.00 when the invoice is funded and an advance is paid out.

In this example, a Pro's checking account balance increases by $2.00 when a $2.00 advance is paid out. The vendor and liability account associated with this deposit are outlined in purple and teal, respectively, in the example for illustration purposes.

A clearing account is used to help manage the delay between the funds being earmarked for the liability repayment and the confirmation of how big of the portion of the earmarked amount will be moved towards repayment of the funds taken from Pipe Capital and how much will go towards the expense.

The funds on this account are held temporarily, and the balance will be adjusted as the transactions are being processed.

In this example, the account balance increased by $0.50 when $0.50 were earmarked towards the repayment of Pipe Capital advance. You can see the vendor (purple) and the amount withheld (teal)

The second stage of the process moves the withheld funds towards the repayment of the funds taken and towards the processing fee expense.

In this example, the account balance is decreased by $0.50 (teal). The split shows exactly how the money was divided between the repayment of the liability and the expense (purple)

This short-term liability account will help you keep track of how much of your advance amount remains to be repaid. The balance will decrease as you repay the advance, and increase as you fund more invoices.​

If we use the example above, the balance would be $2.00 when your advance is paid out and $5.00 when additional funds are released. The balance would be $0 when you are done repaying your advance.

In the example above, the newly created liability account had an initial balance of $3.00. The account shows $5.00 left to be repaid after an additional $2.00 advance was taken.

The expense account will help you keep track of how much of the fee has been collected. The balance will increase as you repay your advance.

In this example, as the advance repayments happen, the balance on the fee account will increase.

When your advance is paid out, we will create a vendor called Pipe Capital (via Housecall Pro) - Vendor.

This vendor will be associated with both the loan payout and any repayment bank deposits.

At the time of loan disbursement, you’ll see this newly created vendor, Pipe Capital (via Housecall Pro) - Vendor, pop up in your QuickBooks Online account:

When you take payments through HCP, repayment towards the Pipe Capital advance will get automatically and seamlessly updated in your newly created QuickBooks Online accounts.

Initially, you will see line items in items in your bank deposits detailing how much of each payment was earmarked towards ​. The information in QuickBooks Online will match the details visible within Housecall Pro’s My Money page.

The total sum is moved to the clearing account, where it awaits the signal that the liability (primary advance amount) and the expense (processing fees amount)​ have been processed by Pipe.

At that point, you can clearly match the information provided in Payout details, which are available in Housecall Pro’s My Money page, to the deposit details available in QuickBooks.

Once the withheld funds are processed by Pipe Capital (it can take from 1 to 4 days on average), we will create another bank deposit, which moves the funds from the clearing account and contains exact details of what portion of the withheld amount was assigned towards repayment of the liability (primary advance amount) and how much towards the expense (processing fees amount).

Example: