You can integrate your Current RMS system with two cloud-based accounts solutions: Xero and QuickBooks Online. If you’re looking to choose between the two, this guide runs through how our integrations compare.
Both integrations work in a similar way
Fundamentally, the way the integrations are very similar.
With both integrations:
- Organizations created in Current RMS can automatically create new linked contacts in either Xero or QuickBooks Online (QBO).
- Changes to linked organizations can automatically update the linked contact in Xero or QBO.
- Use the Post invoice action to post invoices straight to Xero or QBO.
- Current RMS displays some information about the invoice from Xero or QBO when you view a posted invoice.
- Record payments against invoices using the Take payment action.
Invoice and credit note status
When you post an invoice or credit, we show the outstanding balance in your selected accounts solution.
We can provide a little bit more information when you integrate with Xero because the developer tools they provide are more full featured.
Revenue group mapping
When you post an invoice, the revenue group set up against the invoice item is used in order to determine where revenue is posted to in your accounts solution.
- With Xero, revenue groups are mapped to Xero account codes.
- With QBO, revenue groups are mapped to QuickBooks products and services.
Invoice taxes are calculated differently across Xero and QuickBooks Online.
Xero calculates tax on a per invoice line basis and then sums the tax totals of each line item to calculate the total invoice tax.
Current RMS provides a range of tax calculation options in System Preferences. You don’t have to set your tax calculation options to work in the same way as Xero, although it’s a good idea to do this.
Where there’s a difference between calculation in Current RMS and Xero, a tax adjustment is automatically created.
You’ll need to set up your tax calculation settings in Current RMS to match those in QBO. The settings vary depending on your location.
🇺🇸 The following options provide consistency with the US edition of QuickBooks Online:
- Tax Calculation Method Based On: Total
This option is the equivalent to the US edition tax calculation method which calculates tax based on the total charge of the taxable invoice lines.
- Apply Customer Tax: Before Discount or After Discount
Both options are supported by the US edition.
- Catalog Prices: Excluding Tax
This is the only option supported by the US edition.
🌏 The following options provide consistency with the Global editions of QuickBooks Online for Canada, Australia, and the United Kingdom.
- Tax Calculation Method Based On: Row Total
This option is the equivalent to the Global editions tax calculation method which calculates tax on a line by line basis, rounds the values then sums them together.
- Apply Customer Tax: After Discount
This is the only option supported by the Global editions.
- Catalog Prices: Excluding Tax or Including Tax
Both options are supported by the QuickBooks Global editions.
Which solution is right for you?
If you’re not sure which one is right for you, we recommend evaluating both solutions in order to determine which one is right for your business. Every business is different, so we can’t provide a definitive answer here.
We can provide support for integrating your selected accounts package with Current RMS, but we’re not experts in Xero or QBO so it’d be worth chatting to the support teams there with any questions.