Invoices in Mydoma Studio can include both services and products you sell!

When you export a paid invoice that has services on it you can control where the income goes in QuickBooks. By mapping your services, each time you add that service to a paid invoice,  the income will go into the correct income account in QuickBooks automatically. 

The following example will show you how to map your existing services in QuickBooks to Mydoma Studio and as a result income will go to the correct account every time! 

  1. Have your QuickBooks online account open in one browser tab and your Mydoma Studio account in another. 

  2. From within QuickBooks, click  Sales> products and services. Click the “type” column to filter all your services together.

3. In this example, we have a service in QuickBooks called “Design Fees”. Click the “edit” button on the far right to learn some more information about this service. 

By default when this service is “sold”, (added to an invoice and payment is collected) the income for it will be automatically put into the “Design Income” Account.  

4. Now we want to switch over to Mydoma Studio and see if we have the same service set up. 

In Mydoma Studio Main Menu > Services. You’ll see a list of all the services you sell and can cross reference your services in QuickBooks to those in Mydoma Studio. 

5. Following the same example we’re looking for a service called “ Design Fees” in Mydoma Studio. Ensure the name of the “service” in QuickBooks matches EXACTLY to the one in Mydoma Studio. Upper/ Lowercase/ spaces all need to be consistent otherwise it won’t map correctly. The name of the service can be edited in Mydoma Studio by clicking into it, editing and clicking update when done. 

       

If the spelling/ punctuation isn’t exact when you export an invoice from Mydoma Studio to QuickBooks you will create a “ new service” in QuickBooks. Essentially you would have “Design Fees” & “design fees”. 

What if a service from QuickBooks doesn’t exist in Mydoma Studio?

If the service “Design Fees” does not already exist in your Mydoma Studio account you can create a new service by clicking “create service” in the top action bar. Alternatively if you have a service in Mydoma Studio with a similar name you can edit that services name. The choice is up to you!

When we export a paid invoice from Mydoma Studio that has the line item “design fees”, the income will automatically be put into our “Design Income Account”! This little bit of effort will give you clarity into your business and make both you and your accountant are happy! 

Now repeat this process for all the services you have in QuickBooks.  Remember to make sure the spelling is QuickBooks matches that in Mydoma Studio exactly.

What happens if I create an invoice in Mydoma Studio that has a service that isn’t set up in QuickBooks? 

If the service doesn’t already exist in QuickBooks, the service will be automatically created in QuickBooks and your income will be placed into the “Mydoma Service income Suspense account” The next example will walk you through this scenario and how to map new services created in Mydoma Studio to income accounts in QuickBooks. 

  1. An invoice has been created in Mydoma Studio with a service that doesn’t exist in your QuickBooks account. The exported paid invoice will show up as income in your QuickBooks account in the “ Mydoma Service Suspense Account” This account is automatically created in your quickbooks when a service in Mydoma Studio doesn’t existing your quickbooks. 

  2. Within Quickbooks click on > sales> products and services. Sort the “type” column so you can easily see all your services.

  3. Click on “Design Development” and change the income account from “Mydoma Service Suspense Account” to the income account of your choosing. 

  4. Check off  “ Also update this account in historical transactions” - by checking this box all past “color consults” will automatically be moved to the new income account! 

  5. Now every time you sell a color consult the income will be put into the destination account instead of the Mydoma Service Suspense Account

What happens if I don’t map services? 

First it’s not the end of the world. You will still be able to export the paid invoice to your Quickbooks account. If services are not mapped by default, the income will go into the “ Mydoma Service Suspense” account. This income can be moved as required to the appropriate income account. 

Did this answer your question?