Revenue Generation and QuickBooks Integration

When you run the revenue generation process in DPS, the journal entries created for it in DPS are added in QuickBooks Online.

Because DPS is an accrual-based system, you can use the revenue generation process get to a more accurate view of a project's financial status. When you use revenue generation, a project's revenue is recognized when it is earned, based on the project's assigned revenue method (such as percent complete or JTD billings) instead of the amount billed. The project's earned revenue is matched to the project's expenses as they are incurred.

Steps to complete when you use the revenue generation process with QuickBooks Online:

1. To enable revenue generation, select the Enable Revenue Generation Feature check box on the Revenue tab in Settings > PSA > Company in the desktop application.
2. Create and post a billing invoice for a specific customer (client).

   When the invoice is added to QuickBooks Online, a journal entry is also added to QuickBooks Online that reverses the revenue on the general ledger. Revenue (P&L) is debited and unearned revenue (balance sheet) is credited.

3. In the DPS desktop application, run the revenue generation process in PSA > Revenue Generation.

   A Rev Gen journal entry is created in DPS to recognize the appropriate amount of revenue. Revenue is credited and unearned revenue is debited.

4. In the DPS desktop application, post the RevGen journal entry transaction file in Transaction Center > Transaction Posting.

The journal entries from DPS are added to QuickBooks Online. You see them in the following locations in QuickBooks Online:

• Reports > Accountant Reports > Journal
• Search (magnifying glass icon in the toolbar) > Advanced Search: In the transactions search field, select Journal Entries
• Accounting > Chart of Accounts

For more information about revenue generation, see the following topics:

• Revenue Generation
• Post a Transaction File

Note: The help topics direct you to the Revenue Generation application in Accounting > Revenue Generation. However, when you use the PSA module and QuickBooks integration, you will not see Accounting in the Navigation pane. Instead, you see PSA.