Where Does Each MindBody Payment Method Go in QuickBooks?

FlexBooks pools your card money into one account, sends your cash to your cash account, and gives every other payment method its own Other Current Asset account in QuickBooks. A method called Venmo gives you an account called Venmo, and the money sits there until you tell QuickBooks where it really went.

That applies to any payment method you created yourself in MindBody, not only the ones MindBody ships with.

Where each payment method lands

One thing about names. FlexBooks tidies a few of MindBody’s names before filing them. Anything with Visa in it becomes Visa/MC, anything with Gift Card in it becomes Gift Card, and anything with Amex becomes AMEX. That is why Prepaid Gift Card lands as Gift Card and why you will not find an account named after it.

Comp/Guest

Comp/Guest is how you give a client something free. MindBody records the income even though no money was collected, so you see the sale on your Profit and Loss and an equal amount sitting in an account called Comp/Guest.

There is nothing to do with that balance. No money is ever coming, so the account is not waiting on anything. If you would rather that income was not on your Profit and Loss at all, ask us and we will set up a monthly entry that moves it to a contra-income account, which keeps the detail and nets the income to zero.

See also Why do I have $0.00 transactions in QuickBooks?

Other

Other is MindBody’s catch-all, for a payment you took in a way that is not already in the list. FlexBooks sends it to an account called Other Payments. It is the one method whose account is not named after it, so if you have been looking for an account called Other, that is why you cannot find one.

What to do with the balance depends on what the money actually was. If it was real money that reached your bank, record the bank deposit as a transfer out of Other Payments. If it was not money at all, it behaves like Comp/Guest and there is nothing to do.

Gift Card

When you sell a gift card, FlexBooks records it in a liability account called "Unredeemed Gift Cards", not as income. Until the gift card is used, you owe your client that amount in classes or products.

When a client pays with a gift card, FlexBooks records what they bought in its income account as usual, and adds a "Gift Card Redemption" line that takes the same amount off "Unredeemed Gift Cards".

So your income shows up when the gift card is actually used, and "Unredeemed Gift Cards" shows what you still owe on gift cards you've sold.

Account

Account is the odd one out, because it is not a holding account for money you have received. It is a client putting the cost of a purchase on their balance with you.

When a client owes you, FlexBooks creates an invoice against Accounts Receivable, and the payment they make later clears it. You may also see an Other Current Asset account called Account. No money ever arrives in it, so if yours has a balance, let us know and we'll look at it with you.

See also How Does FlexBooks Handle Customer Account Balances?

When a method is real money in the wrong account

Some methods are real money that reaches your bank even though FlexBooks does not pool them. Apple Pay and Google Pay are the common ones, and so is a renamed card method, or a bank payment you take under a name like EFT, PAD or Direct Debit. This money is processed by Mindbody Payments and arrives in your normal payout alongside your card sales.

If you use a clearing account, that matters, because your Credit Card Processor account will be short by these amounts every month and your fee entry will not square it. The money you are looking for is sitting in a different account.

We can set your account up so these methods go straight into Credit Card Processor along with your card sales. Tell us which payment methods you use and we'll set it up for you.

Anything already sitting in those accounts still needs moving into Credit Card Processor once, as part of your month end, the same way you would any transfer between two accounts.

Money you take outside MindBody Payments

Square, a separate card terminal, Venmo and any other method you record in MindBody under its own name take money that never passes through MindBody Payments, so it never appears in your MindBody payout. FlexBooks records the sale exactly as MindBody has it and puts the money in that method's account.

FlexBooks only sees what is in MindBody, so it doesn't see that money reach your bank, or any sales you take on that service outside MindBody. That account is handled in your books like any other account.

The accounts FlexBooks sets up for you

FlexBooks sets up a standard group of accounts on your first sync so every kind of transaction has somewhere to go: Undeposited Funds, Customer Accounts, Cash On Hand, Checks On Hand, Other Payments, Unapplied Credit Card Payment Income, and Credit Card Processor if you use a clearing account.

FlexBooks creates them all up front, including ones you may not need yet, so the first sale that needs one already has a place to go. We recommend leaving them active in QuickBooks, even the ones you're not using yet.

Seeing where you used a payment method

In MindBody, go to Reports, then Sales on the left, then the Sales report. Set your date range, uncheck All Payment Methods in the Payment Method filter, check the ones you want, and click Go.