How Accounting Works in Quipli
Quipli includes a full built-in General Ledger. Every invoice, payment, refund, credit memo, and purchase order automatically creates the underlying accounting entries for you — you don't need any external accounting software for Quipli to track your financials accurately.
A few things worth knowing up front:
Revenue is recognized on an accrual basis, based on the invoice date — not when it's paid. The invoice date itself is determined by your settings, and the invoice only hits the General Ledger once it becomes payable, which is also controlled by your settings (for example, at approval, when the order goes on rent, or when inventory is returned).
Quipli automatically tracks your Accounts Receivable, Cash, Accounts Payable, and Unearned Revenue balances — no setup required for these.
You control where your income, expenses, and taxes post within Quipli.
Need a cash-basis view for tax filing or cash flow purposes? Quipli's reports support cash-basis visibility natively, even though the General Ledger itself posts on accrual.
Part 1: Set Up Your Chart of Accounts in Quipli
Step 1: Review Your General Ledger Accounts
Navigate to Accounting > General Ledger.
Click on any Account Name to see the line items that make up its balance.
To add a new account, click Create Account and fill in the Account Number, Account Name, and Account Type (Income, Expense, or Tax).
Plan to add an account for each revenue stream you want to track separately (e.g., Rental Income, Delivery Income, Damage Waiver Income) and each expense category you use on purchase orders (e.g., Fuel, Repairs & Maintenance, Freight).
Step 2: Set Your Default Income Accounts
Navigate to Accounting > General Ledger Settings.
Assign a default GL account for each revenue category:
Default Income Account – fallback for any line item without a specific account assigned
Default Rental Income Account
Default Sale Income Account
Delivery Income Account
Up-Charge Income Account
Damage Waiver Income Account
Discount Income Account
Refund From Account
Processing Fee Income Account
If you want existing historical invoice line items reassigned to the account you just selected, choose "yes" when prompted.
Step 3 (Optional): Fine-Tune Income Mapping by Product, Part, Service, or Fee
The defaults from Step 2 apply broadly, but you can override them at a more granular level for finer revenue reporting — on individual Products, Parts, Services, Location Attributes, or Product Attributes/Upcharges. Any account set at that level takes priority over your Step 2 defaults.
Step 4: Set Up Expense Accounts for Purchase Orders
For each expense category you use on purchase orders, create a matching Expense-type GL account (Step 1), then assign it wherever that expense type is configured.
Optional: By default, all purchase order bill payments post to a single Expense Payments account. To split them out — for example, credit card payments vs. checking account payments — go to Accounting > Payment Methods > Expense tab and map each payment method to its own account.
Step 5: Confirm Your Sales Tax Setup
Your tax codes and rates are set up by the Quipli team as part of your onboarding, so you shouldn't need to create them from scratch. It's still worth checking that everything looks right:
Navigate to Accounting > Tax Codes.
Confirm a tax code exists for each jurisdiction you collect tax in, with the correct rate.
Quipli tracks tax collected separately by jurisdiction automatically.
If you start collecting tax in a new jurisdiction or need a rate updated, reach out to your Quipli contact, or use the article below to make the change yourself:
Part 2: Pull Your Totals from Quipli
Once your Chart of Accounts is set up, use these reports as your source numbers any time you're entering data into QuickBooks Desktop or another accounting platform:
Report | Where to find it | What it's for |
General Ledger | Accounting > General Ledger | Income, tax, and expense totals by account for a date range. Click into any account to see the transactions behind the total. |
Payout Reconciliation | Accounting > Payout Reconciliation | Lists each Stripe payout that's hit your bank account, along with the payments, refunds, and processing fees that make it up — everything you need to record the deposit. |
Daily Payment Totals Report | Reports | Daily cash and card collections, for reconciling your cash drawer. |
Tax Report | Reports (or General Ledger, filtered to Tax accounts) | Taxable revenue and tax collected by jurisdiction. |
Part 3: Enter Your Totals into QuickBooks Desktop
Since there's no direct sync to QuickBooks Desktop, you'll enter your Quipli totals on a regular cadence — daily, weekly, or monthly, depending on your business. Two things typically need to be recorded:
Recording Revenue, Tax, and Expenses
In Quipli, go to Accounting > General Ledger and select your date range.
Note the totals for each account (Income, Tax, Expense).
In QuickBooks Desktop, create a Journal Entry dated to match, using the same accounts you've set up in Quipli:
Debit Accounts Receivable for the total invoiced
Credit each Income account for its revenue total
Credit each Tax account for tax collected by jurisdiction
Recording Payments and Deposits
In Quipli, go to Accounting > Payout Reconciliation and find the payout that hit your bank account.
Note the payment total, refund total, and Stripe fee total for that payout.
In QuickBooks Desktop, create a Bank Deposit:
Add a line for the payment total (minus refunds), matched to the account you're using to track incoming payments
Add a second line for the Stripe fee, entered as a negative number, mapped to your processing fees expense account
Confirm the net deposit total matches what actually hit your bank account before saving.
Many businesses find it easiest to route Quipli's payments through a dedicated Clearing account in their books (rather than directly to a bank account), since Quipli reports one lump total per payout rather than individual line-item payments.
Reconciling Cash and Checks
Use the Daily Payment Totals Report to count your cash drawer and checks against what Quipli recorded, and record any deposits in QuickBooks Desktop accordingly.
Questions?
If you run into a mismatch between your Quipli totals and QuickBooks Desktop, start by checking your date range and accounting basis (accrual vs. cash) in Quipli — differences here are the most common cause. Reach out to our support team if you need help.