If you’re new to Housecall Pro Expense Cards, or are thinking about ordering, you may be wondering how transactions integrate with QuickBooks Online. Using HCP’s API, we make recording your accounting information seamless and easy.
Getting started with Expense Cards
As soon as you complete your first deposit into your HCP Money account, we will automatically create two new accounts in QuickBooks Online: one for recording any purchases with the Expense Cards and the other to show balance transfers.
Housecall Pro Balance
This account will correspond to any transfer fund activity in HCP Money. When you create a transfer into your HCP Money account, a line item will be added to this account in QuickBooks Online.
Housecall Pro Expense Card
This account will reflect any purchases made from any of your Expense Cards. Each transaction will be automatically reconciled in QuickBooks Online, so don’t forget to review your activity to make sure purchases are allocated appropriately while updating expense categories if needed.
Minimum balance funding and QuickBooks Online
Housecall Pro makes using additional funds easy by offering minimum balance funding. Click here to learn more about minimum balance and how to set it up. Since minimum balance funding works by reallocating customer payments into your HCP Money account, there is no need to transfer money from your bank account. Instead, funds deposited to your HCP Money account are available instantly. The steps below outline the path of funds through your QuickBooks Online chart of accounts, in the case of minimum balance funding:
Credit Card Payments are received from customers after jobs are completed. For all credit card payments made through Housecall Pro, funds are held in Undeposited Funds until they are processed. Note: This step happens for any credit card payment, regardless of whether the Pro is using Expense Cards or not.
You, the Pro, allow us to allocate funds to reimburse the HCP Money balance.
Payments from Undeposited Funds in QuickBooks Online will be associated with one of three accounts.
First, QuickBooks Online will push any credit card processing fees into a separate COGS account. This step will happen automatically and regardless of whether additional funds were requested for an HCP Money account or not.
Then, QuickBooks Online will associate some of your received payment from the undeposited funds with your Housecall Pro Balance account. You will see the available funds populate on the Overview or Transactions page in HCP Money, within Housecall Pro.
Any remaining amount will be added to your bank account.