RealtyBackOffice has integration with Zapier.com, this integration allows an admin to connect their RealtyBackOffice account with Quickbooks Online. Once the integration has been created, and an admin closes a transaction file, RealtyBackOffice will create a sales receipt with the transaction property address, income received, and agent name that closed the transaction file.
RealtyBackOffice will also create the agent check to report to Quickbooks the commission that was paid to the agent. With that said, the admin can print the check or do an ACH direct deposit with Quickbooks.
To connect with Quickbooks Online, besides purchasing Quickbooks, you would need to obtain an account with Zapier.com. Currently, the connection is about $30 a month (Starter Plan) for the integration and that fee is paid to Zapier directly.
When you make the integration with Quickbooks Online with Zapier, the connection is moving forward, meaning that when you close a transaction file in RBO, we will send the sales receipt and agent check to Quickbooks Online to report the income coming in and the expense is paid out to the agents.
We recommend making the integration when you close at least 50 transactions per month. The reason for this is that Zapier currently charges about a $30 monthly fee for the integration. To see how much the cost will be per transaction, divide the cost that Zapier charges ($30) by the number of transactions you close per month. That would provide you with the cost per transaction to transfer the data to Quickbooks.
Quickbooks Online tracks the entire Company’s Profits and Losses, and they also track 1099s, making it very easy to order the 1099s at the end of the year. Quickbooks will send the 1099s to your agents and to the IRS for a small processing fee.
When you sign up with us, we provide you with a complimentary onboarding session to assist you with the setup for RBO and Quickbooks Online. Below, please find a link with more information on the Zapier connection.
RBO Invitation Link