HBS and QuickBooks Online Integration

HBS integrates with select accounting systems so your administrative team can work more efficiently and avoid mistyping information from one system to another. Currently, HBS can share the following business objects:

• Vendors - External partners you pay outside of your internal employees. (trade partners, subs, material suppliers, etc.)
• Purchase Orders - Your purchase request forms sent to your vendors for approvals.
• Vendor Payments - Payment actions taken in HBS as required.
• Vendor Backcharges - Vendor credits you’ll use against future purchase orders.
• Customers - Your clients (home owners).
• Customer Invoices - Payment request forms sent to your customers.

Vendors

Vendors created in HBS can be shared/synced with the accounting system at any time. The same is true as well with vendors created in the accounting system. They can be imported into HBS and synced in bulk or one at a time.

Purchase Orders

If your accounting system supports purchase orders, HBS will create new purchase orders, associated bills, and bill payments for you. A purchase order isn’t created in the accounting system until the first payment is made against that purchase order in HBS. This is so all changes to the purchase order have been made in HBS before sharing it with the accounting package. If your accounting system does not support purchase orders, only bills and bill payments are created.

HBS will book project expenses to an inventory account (current asset account) in your accounting system. This can be the same account for all projects, or more commonly, an account set up specifically for each project, so that costs can be tracked in the accounting package per project. We do this in part so the “cost of goods” are held in the builder’s inventory until the project closes and ownership changes. At this time the expenses can easily be transferred over to a permanent “cost of goods sold” expense account and your project’s costs balance with your project’s income keeping your profit and loss in sync.

Similarly, the purchase orders can be booked all in the same accounts payable account or to an account set up specifically for each vendor. This isn’t as common but some bookkeepers prefer to keep vendor expenses in separate accounts.

Vendor Payments

HBS supports multiple payments to the same purchase order by defining a payment schedule. When a vendor payment is due to be paid, HBS will prompt the appropriate team member to create the payment. This action will trigger the creation of the purchase order in the accounting system if not already created, as well as create a bill, if not already created, and associate it with the purchase order accordingly. Lastly, it will create a bill payment against that bill rather it be the only payment (full balance) or one of many. Your accounts payable team can then simply find the payment already created in the list of checks in the accounting system and submit the payment accordingly.

Vendor Backcharges

HBS supports the creation and management of vendor backcharges which can be used to cover a home builder’s reimbursable expenses commonly caused by errors/omissions in the field by a vendor. For example, if a water leak damages drywall as a result of an uncrimped plex line, this feature allows the builder to have the drywall contractor and painter fix the damage and create a vendor backcharge for the amount of the repairs. This backcharge can then be applied to a future purchase order as a reimbursement to the builder.

HBS creates what is commonly known as a Credit Memo in the accounting system. This credit memo is booked as a credit for the project where the expense occurred and when it is used, associates the credit with the new purchase order so the expenses are properly tracked to the correct project.

Customers

(Coming soon!) Customers created in HBS can be shared/synced with the accounting system at any time. The same is true as well for customers created in the accounting system. They can be imported into HBS and synced in bulk or one at a time.

Customers Invoices

(Coming soon!) HBS will create new invoices, associated payments for you. An invoice order isn’t created in the accounting system until the payment is received against that invoice in HBS. This is so all changes to the invoice have been made in HBS before sharing it with the accounting package.