QuickBooks Connection Guide

Connect to QuickBooks

Step 1: Navigate to Administration > Accounting Connections

Step 2: "Connect New Account"

Step 3: Select "Connect to QuickBooks" to log in to your QBO online account.

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Please note, we are only integrated with QuickBooks online and not the desktop version of QBO.

Sign in through Intuit interface

Step 4: Use your Intuit Account email or user ID to sign in to QuickBooks.

QuickBooks Chart of Accounts Setup

Step 5: After connecting your Quickbooks, select "FINISH SETUP" to select defaults.

Default Digital Asset Holding Accounting (Bank Account):

Prior to connecting your Quickbooks, you will want to set up your Chart of Accounts. You may either choose to create a new general ledger account called "Bitwave - Digital Assets," which will be synced into QBO, or select an already existing account from your QBO chart of accounts.

This account will appear as a "Bank Account" type in your Chart of Accounts and will sync transactions through the bank feed.

Default Fee Account (Expense Account):

You will also be prompted to create a new general ledger account called "Bitwave - Crypto Fees" or you may select an already existing expense account.

This expense account will automatically be applied to to transactions that include on-chain transaction fees such as "gas fees" or transaction fees for exchanges.

How the default accounts appear in the QBO Chart of Accounts:

Step 6: Select "SAVE." You have successfully connected your QuickBooks!

The "Last Sync" and "Sync Notes" column will be populated indicating a successful sync with QBO. Check the "Last Sync column" periodically prior to reconciling your data to ensure that the connection is still active and synced through the current date.