The purpose of this article is to outline the process for exporting race event payouts as Quickbooks transactions using the IIF file format. This process can only be completed after points and payout have been calculated. See the article here for more information on this topic.
Note: The instructions here are specific to Quickbooks Desktop Pro/Premier 2017 and may differ slightly from other versions.
- Begin on the Points/Pay tab in Race Management.
- With the points already calculated, the first step in exporting your payments is creating your payments.
- At the bottom of the page, click Create Payments.
- The Payments menu will open, now make sure that your payments are correctly entered and click Quickbooks Export in the bottom of the screen.
- A modal window will open with the title Export Accounts.
- The first time the process is performed, an account will need to be entered for the Bank Account and the Expense Account, but later you will have the option of selecting the previously used accounts from the dropdown list or entering new accounts.
Note: In order for the import process to complete successfully it is important that both account names be entered exactly as listed in the Quickbooks chart of accounts.
- Next click the Download button. You should see a prompt to save the IIF file in a location of your choosing.
- With the file exported from Race Management, you will now want to open Quickbooks.
- From the top menu select File | Utilities | Import | IIF Files.
- Select the file you just exported and click Import.
Because of changes in the way IIF files are imported in Quickbooks 2019, you will want to import the IIF file by clicking Import it for me. I'll fix it later. For more details on this issue, see the page here.