HubSpot, one of the best CRM and marketing automation tools, isn't providing the in-built capability to manage invoicing and financial operations as HubSpot capabilities are focused on sales and marketing but, in holistic working environments, sales and marketing teams also need financial data within CRM so they can manage interactions and provide personalized support accordingly.
Quickbooks, an industry-leading accounting, payroll, and financial management app, is being used by a significant number of HubSpot users and that's why an effective integration between HubSpot and Quickbooks is crucial to fulfilling the sales and marketing needs of having reliable financial data within HubSpot.
This article will cover:
Why do we need to integrate HubSpot with QuickBooks?
The majority of business activities need a collaborative effort rather than an individual one. A number of manual chores can be reduced by synchronizing the marketing and accounting software. It's critical not only for us to have a complete picture of your customer in one system but also for our customers to have a positive experience with us. Unfortunately, many businesses fail to integrate their sales and financial system thus leaving their customers with a disconnected, sub-optimal experience.
The following operation may be accomplished by integrating two tools i.e. HubSpot and QuickBooks.
Accuracy in source tracking and reporting:
Effective integration can give us multiple data points to create value-added reports like source-based revenue, invoicing and payment status, revenue growth, etc.
Alignment of various teams:
With integration, we can close the inter-team communication loop and align them perfectly with each other.
Improved customer experience:
When HubSpot will become a source of truth for all payment, invoicing, and sales data for sales and support teams, customers will be served efficiently and effectively.
Cash Flow Improvement:
By significantly shortening the time from issuing a proposal to receiving payment, cash-flows can be improved.
Minimal Admin Work:
Admin work of entering data into various systems and correcting errors can be avoided by having integration between HubSpot and Quickbooks.
Common use cases of HubSpot and QuickBooks integration
Let's quickly walk through the various real-time examples and use-cases of Hubspot and Quickbooks Integration.
One of the most common and easiest use cases is the syncing of contacts within two systems. Businesses need this syncing so they can avoid manual data entry into two systems. In sync, we usually need two options:
- HubSpot to Quickbooks: Default integration doesn't have this option and we need third-party integration or tool to manage this.
- Quickbooks to Hubspot: HubSpot default integration covers this feature but for the newly created contacts only. When a new payment is made in QuickBooks, it runs immediately in HubSpot and populates the relevant contact information. In HubSpot, we can also define custom contact properties and map relevant QuickBooks fields. For old ones, we can use direct import or third-party options.
To enable contact syncing, click here.
Companies working with various line items usually need syncing of products so line items can be used within HubSpot deals without manually creating them again.
- HubSpot to Quickbooks: HubSpot default sync is only supported for Quickbooks to HubSpot Product Sync and doesn't work the other way around but this option can be managed using a third-party tool.
- Quickbooks to HubSpot: Like contacts, product syncing is only available for newly created products in default integration. For older products, we can use import or third-party options.
Invoices linking and statuses in HubSpot
One of the most sought use-case in this integration is the syncing of invoices with Hubspot default objects. After enabling the integration, we can MANUALLY link invoices with contacts, companies, and deals in HubSpot and we can see the updated status of those invoices within HubSpot. Important points to consider:
- The invoices linking option is provided in default integration and doesn't need any additional tools.
- All existing invoices can be linked with the records in HubSpot.
- Invoices can only be linked manually and currently, this integration don't have an automated matching and linking option even with email as a unique identifier :(
- Statuses of the invoices will be synced and don't need any manual intervention.
Invoice Creation Within HubSpot.
Another common use case for HubSpot and Quickbooks integration is the creation of invoices within the HubSpot interface. This feature is available in the default integration option and it allows HubSpot users to create invoices within HubSpot. Those invoices will be linked automatically with Hubspot records and their statuses will be synced too. Invoices in HubSpot can also be created using published quotes and already available data in HubSpot to save time on the invoicing process.
Workflow automation using QuickBooks.
After enabling the integration, we can use new deal properties like Invoice amount billed, invoice recipient, invoice number, invoice status, and invoice due date to trigger workflow automation for various cases. For example:
- Transactional email on billing
- Invoice reminder SMSs or Emails 7 days, 1 day, and on the due date
- Curtesy reminders for overdue payments to customers and deal owners
- Successful payment notifications via slack to the onboarding team
Reporting on Financial Data
One of the most important aspects of every small business is the ability to bring in and monitor data with accuracy. With Hubspot and Quickbooks integration, we can create dashboards and reports based on the data from QuickBooks invoicing and link them with source-related properties like original source to help the team in understanding the ROI of various marketing sources.
Syncing Structure for Quickbooks HubSpot Integration
With default integration we have the following structure:
- Quickbooks Contacts → HubSpot Contacts
- Quickbooks Products → HubSpot Products
- Quickbooks Invoice Data → HubSpot Deal Properties (Additionally we have Quickbooks on right-sidebar options)
But that's not enough in most cases. Ideally, Invoices and Transactions should work as an object like a deal or contact and must be associated with standard objects of HubSpot. Why? Because then we will be able to customize the invoice options, syncing behavior, workflow triggers, and reporting properties.
But, this option isn't available in the default integration so a third-party integration or API is to be used for any such purposes. Moreover, the custom objects option is available for enterprise customers only so all users can't create this structure. For enterprise customers, after creating a custom object in HubSpot for invoicing, we can set up a sync of data using API or third-party tools and can leverage the full power of HubSpot and this integration.
Common Limitations with Quickbooks HubSpot Integration.
Alright, we have discussed the interesting part now let’s talk about the limitations:
- Most of the options are synced one way and we still need other tools or options for two-way integrations.
- In this default integration, we don't have customizability in terms of custom objects and only default objects can be linked.
- Automated linking of invoicing with deals or contacts isn't available even for unique identifiers like email and all invoices are to be linked manually.
- Old records of contacts and products are not available for syncing
- The integration has many limitations in terms of taxes, currencies, and geography of clients
Marketplace Apps that can help in HubSpot Integration with Quickbooks
Here, we will be talking about other marketplace apps that can help with HubSpot QuickBooks Integration when you face limitations with the default integration.
Here are other Marketplace apps that can help in HubSpot QuickBooks integration
- QuickBooks Advanced Automation: Providing two-way syncing and automated linking of invoices with contacts, deals, and companies.
- QuickBooks Desktop Sync: Integrates QuickBooks Desktop with HubSpot which isn't provided in default integration.
- Quote to QuickBooks: Automatically transfer quotes from HubSpot to estimates in Quickbooks
- IntegrateIQ: Two-way syncing along with the support for Hubspot Custom Objects
- Third-Party Bridges: Mostly common third-party bridges like Zapier, Integrately, Zoho Flow, Integromat have the capability to connect HubSpot and Quickbooks for specific use cases.
How to Integrate and Use HubSpot with QuickBooks
How to install the QuickBooks Online Integration
The steps for integrating HubSpot and QuickBooks are as follows:
- To the left of the main navigation bar, click the Marketplace symbol and select App Marketplace.
- Using the search box, find and choose QuickBooks Online Integration.
- To the right of QuickBooks Online, click on the Install App icon.
- Log in to your QuickBooks account.
- When you click on the Connected Apps option after successfully installing the integration, it will be available to customize.
Enabling Contact Sync
- In your account's main navigation bar, click the settings
- Navigate to Integrations > Connected apps on the left side, then choose QuickBooks Online.
- From the drop-down option, choose Contacts.
- Toggle the button on to sync QuickBooks customers with your HubSpot contacts.
Enabling Product Sync
- In your HubSpot account's main navigation bar, click the settings symbol.
- Navigate to Integrations > Connected apps on the left side, then choose QuickBooks Online.
- From the drop-down menu, select
- Toggle the option to sync your QuickBooks Products with your HubSpot Products.
- Select Deals from the Sales drop-down menu.
- Select a deal record by clicking its name.
- Under the Invoices section, Click Create Invoice on the right side.
Overall, Quickbooks and HubSpot Integration was much needed in the marketplace and is being used already by many clients but due to multiple limitations many clients still find it hard to utilize this as per their needs and they rely on the external options for this integration. But, like HubSpot, this integration is evolving and hopefully, in the future, major updates will be made in this integration to make it robust and reliable.