- Since QuickBooks does not have built in features to support crypto payments, businesses adopting cryptocurrencies have to use third party applications. Maintaining your Accounts Payable for onchain transactions in spreadsheets otherwise would be error prone , and would increase the risk of paying invoices twice, paying the wrong wallet address and not having an easy to access audit trail.
- Acctual helps you save time with your AR/AP. Acctual will allow you to pay for fiat or crypto-denominated invoices in crypto on 8 blockchain networks including Ethereum, Solana or Base, while vendors receive crypto. (Features to pay in crypto while vendors receive fiat are coming out soon).
- Their direct integration with Quickbooks allows you to sync vendor names and chart of accounts, pushes automated journal entries at the time of bill creation and payment, and includes the transaction hash of the paid bill in Quickbooks. Speaking from experience, that’s quite a time saver for web3 teams.
- For detailed instructions, please refer to the article. You can also get a two-month free trial through the link in the article.
How to pay Crypto Bills using Acctual & Quickbooks (theaccountantquits.com)