You can make accounting easy with WeTravel by simply downloading a QuickBooks-compatible CSV file that you can upload directly to QuickBooks.

You can access the CSV file through Transactions Reporting. To access the transactions reporting feature, simply find "Payments" on the menu. After that, choose "Transactions Reporting" on the left side.

Here, click on QuickBooks CSV to download it.

Steps in Quickbooks

Disclaimer: these are just suggested rules. Please feel free to use the CSV how it best fits your business.

Step 1 - Add new accounts to Chart of Accounts

  1. WeTravel account - under Cash on hand/bank account
  2. Sales discounts → component of Income. This will be for Refunds.
  3. Disputed Sales - sub-account under Income

Note - Your business bank account should already be in your Quickbooks chart of accounts.

Step 2 - Import data into Quickbooks as Bank Data using CSV file download


As an example, we will create a new bank account in Chart of Accounts for “WeTravel Account”. Choose Tools and "Import data".

Upload the CSV file here:

Select your WeTravel Account:

Mapping of Data. Follow below fields to populate the corresponding fields:

  1. Date - Choose in this format dd/MM/yyyy
  2. Description - Type
  3. Amount - Net

Step 3 - Set up Rules to properly classify transactions. The below rules are suggestions from the WeTravel team. Please feel free to use rules as applicable to your organization’s internal accounting.

Payment

  1. Name of Rule - Revenue
  2. Apply to transactions - Money In to “WeTravel Account”
  3. Description Contains Exactly “Payment”
  4. Category “Sales”

Refunds

  1. Name of Rule - Refunds
  2. Apply to transactions - Money Out in “WeTravel Account”
  3. Description Contains Exactly “Refund”
  4. Transaction Type - “Expense”
  5. Category - “Discounts/Refunds Given”

Payout → Transfers from WeTravel Bank to Own Bank Account

  1. Name of Rule - Payout
  2. Apply to transactions - Money In to “Wetravel Account”
  3. Description Contains Exactly “Payout”
  4. Transaction Type - Transfer
  5. Account - Cash on Hand

International Wire Transfer → Transfers from WeTravel Bank to Own Bank Account

  1. Same rule as Payout

Top-Up

  1. Name of Rule - Top-Up
  2. Apply to transactions - Money In to “WeTravel Account”
  3. Description Contains Exactly “Payout”
  4. Transaction Type - Transfer
  5. Account - Cash on Hand

Disputes

  1. Name of Rule - Dispute
  2. Apply to transactions - Money Out in “WeTravel Account”
  3. Description Contains Exactly “Dispute”
  4. Transaction Type - Expense
  5. Account - “Disputed Sales”

Tagged Transactions based on rules will appear as below:

Rules setup will be prospectively applied. In order to change the rule/tagging of a specific transaction, here are the steps:

  1. Categorized → Select the transaction/s then click “Undo”. These transaction/s will be moved to the “For Review” tab.
  2. Change the Rules
  3. The new rule/s should be applied to the “For Review” items.


Sample P&L

  • Shows Revenue, refunds and disputes as an expense
  • Vs. The total amount collected in WeTravel - the difference is the amount of fees paid to WeTravel

Sample Balance Sheet

  • WeTravel account in QuickBooks reflects the amount available in WeTravel. Disputes are treated as a reduction to WeTravel accounts.

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