QuickBooks is a widely used accounting software developed to help businesses manage their finances efficiently. It simplifies and streamlines accounting processes, for accurate and organized records. When combined with Power BI, a business analytics tool that lets you connect to, visualize, and share data, you have a powerhouse partnership. This integration can provide you with enhanced insights and real-time data analysis to turn your financial information into actionable insights.
In this blog, we’ll take a deep dive into integrating QuickBooks with Power BI, from why it’s worth considering and how to do it, to how to navigate common challenges.
Why Connect QuickBooks to Power BI?
By integrating QuickBooks with Power BI, your finance team can immediately visualize data and uncover new insights into critical accounting aspects like profitability, cash flow, and customer analysis. Basically, you can establish and monitor the key performance indicators (KPIs) relevant to your business at the touch of a button. This means you’ll have everything you need to identify trends and patterns within your data, and inform strategic decisions.
In fact, the integration allows you to remodel your data into custom reports, with the help of interactive dashboards.
You can also share these insights easily across departments, to ensure that everyone in your business is always up to date with data, no matter where they are.
A massive advantage of this is that you can tailor your data and reporting to allow for specific purposes – whether that’s annual reports for shareholders, presentations and forecasts for potential investors, or demonstrating your growth to customers.
Don’t forget that the integration allows for automation between the two platforms once set up. That means that your data is handled accurately and efficiently, and your team doesn’t need to spend time or effort on data entry and management.
With all these benefits, let’s dive into how to set up the integration.
How to Connect QuickBooks to Power BI
There are two main ways of integrating QuickBooks with Power BI. The first is directly through QuickBooks Online (QBO) or Power BI, while the second relies on a connector or third-party.
Connecting via the software platforms
This is the easiest way to go about integrating QuickBooks with Power BI.
To do this in QBO, simply navigate to your account, then go to ‘Apps’ and search for Microsoft Power BI. Select the app, and once it’s downloaded, enter your Power BI login credentials to get started.
The process is similar via Power BI. In your workspace, click ‘Get Data’. This will open a Content Pack Library. Navigate to ‘Services’ and select ‘Get’. Then choose ‘QuickBooks Online’ from the dropdown menu. Power BI will initiate a connection, after which you can sign in using your QuickBooks login.
Once the two platforms are integrated, you can choose to refresh your data immediately or schedule a regular refresh time. All that’s left now is to start customizing your information and dashboards, so that everything displays how your team needs it.
Integrating via a connector
Making use of a connector or third-party app can seem daunting and difficult. But in fact, it offers a number of benefits. For instance, you don’t need to know any coding, and you can choose which data to export, while ensuring it’s displayed correctly. And most importantly, it is a secure way to connect the two platforms.
You’ll need to start by ensuring you have an Administrator role within the software. Next, you must install a Power BI Connector for QuickBooks via the QuickBooks App Store.
From here, follow the prompts, which will take you to the confirmation page. Now you can review all the information you’ve entered to ensure accuracy, and click on the ‘Connect’ button. Note that some connectors may be a paid service. If this is the case, you may be presented with different plans and prices to choose from.
Once the connector has downloaded, create a data source for QuickBooks. This is just a fancy way of saying you need to import your QuickBooks data. Specify details like the source name and description and choose exactly what to import. Keep in mind that you don’t have to import all your data – you can filter the information to only sync what’s necessary for your business.
Once that’s done, save your changes. In Power BI, you can now click on ‘Get Data’, and import whatever you need via the ‘Load’ button.
And just like that, you’re ready to use that information in a variety of different ways!
Integration Best Practices
Because integrating QuickBooks with Power BI means you’re viewing two sets of data through one platform, it’s important to have accurate data. If not, you run the risk of your visualizations being inaccurate or incomplete.
Before you start the integration, make sure that you have planned everything strategically. You should have a clear idea of what you want to achieve through the connection, and know exactly what data you need to do this.
If in doubt, a professional can assist you.
Software experts can advise you on the best way to integrate, and help you complete the process without disrupting any core business functions.
It’s also crucial that your chosen data is valid, and has been tested to ensure accuracy. Clean data is key. Having duplicate entries, redundant information, or outdated records can negatively impact on the integration.
Unfortunately, even with the best preparation, you might come across a few of the common stumbling blocks associated with integrating QuickBooks with Power BI.
Basic Troubleshooting Tips
There are a few ways that integrating QuickBooks with Power BI could lead to headaches for your team. Thankfully, they are not always complicated to resolve.
A common issue is authentication failure. This might occur while you’re logging into either platform during the connection. If you have trouble signing in, check that you’ve entered your details correctly, and that you have the right permissions to access data.
Occasionally, errors crop up because of browser incompatibility, so as a final check, clear your cache. If that still does not work, try signing in on a different browser.
You might also experience a connection timeout, especially if you’re syncing large amounts of data, or have a slow connection. To prevent this, ensure that you have a stable internet connection. If necessary, time the integration for after hours, when there is less traffic on your network. Alternatively, migrate your data in smaller batches rather than all at once.
If you have trouble with data syncing or displaying correctly, you may need to manually refresh the page. If you’re still having issues, it may be an indicator of poor data quality, which means you’ll need to do a cleanup before proceeding.
When in doubt, reach out!
Of course, software experts can ensure that integrating QuickBooks with Power BI is a smooth process without any hitches – so when in doubt, it’s best to consult an expert.
For assistance with software implementation or integration, schedule a Discovery Call with one of our team members. With decades of combined software expertise and certification, we’re ready to help you navigate integration with ease!
The information presented in this blog article is provided for informational purposes only. The information does not constitute legal, accounting, tax advice, or other professional services. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. Use the information at your own risk. We disclaim all liability for any actions taken or not taken based on the contents of this blog. The use or interpretation of this information is solely at your discretion. For full guidance, consult with qualified professionals in the relevant fields.
