FINANCIAL EXCHANGE

How Does QuickBooks POS Inventory Adjustment Interact with QB Financial?

11/30/2017 2:28:23 AM Jay Thompson

One of the most important issues for a retailer is tracking and properly accounting for inventory. In this article, we will discuss what you see when QuickBooks Point of Sale (POS) is not properly used, and some of the issues that this causes in QuickBooks Financial (Pro, Premier or Enterprise).

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Prepare QuickBooks to work with QuickBooks Point of Sale

11/30/2017 2:28:23 AM Jay Thompson

Before you can integrate QuickBooks Point of Sale and QuickBooks, you must install both programs and set up your QuickBooks company file to support the exchange of information. When setting up your company file in QuickBooks:

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Data that is shared between QuickBooks and Point of Sale

11/30/2017 2:28:23 AM Jay Thompson

The following data is not shared in either direction: Inventory items or quantities (except for initial import from QuickBooks to Point of Sale).

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QuickBooks POS and QuickBooks Financial Reports

11/30/2017 2:28:23 AM Jay Thompson

How come QuickBooks Financial Sales Summary reports do not match with my POS sales reports? First of all, yes, if you are running the sales summary report in QuickBooks, the report may not match your QuickBooks POS sales report. The reason is that the Gift Certificate purchases and redemptions ARE included.

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QuickBooks Point of Sale: Importing Items from QuickBooks Accounting

11/30/2017 2:28:23 AM Jay Thompson

You may have existing items in QuickBooks that you now want to track in Point of Sale. You can easily import these items to Point of Sale at any time, making them available to list on Point of Sale documents. Importing your QuickBooks items is optional. After importing, inventory items are not routinely exchanged between the two programs

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QuickBooks POS: Import QuickBooks Items

11/30/2017 2:28:23 AM Jay Thompson

You may have existing items in QuickBooks that you now want to track in Point of Sale. You can easily import these items to Point of Sale at any time, making them available to list on Point of Sale documents. Importing your QuickBooks items is optional.

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QuickBooks POS: View Point of Sale Transactions in QuickBooks

11/30/2017 2:28:23 AM Jay Thompson

Point of sale customer, vendor, and history document lists have active links to the corresponding record(s) and or document(s) created in QuickBooks financial software.

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QuickBooks Point of Sale Transactions Missing in QuickBooks

11/30/2017 2:28:23 AM Jay Thompson

After the financial exchange, a backup was restored in QuickBooks. Transactions were deleted manually in QuickBooks. You are in a different QuickBooks file than the one that has the transactions.

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QuickBooks Point of Sale: Map Item Accounting by Department or Store

11/30/2017 2:28:23 AM Jay Thompson

From the File menu, select Preferences >>> Company and then select the Financial >>> Accounts page from the left-side menu. There may be a slight delay as Point of Sale connects to your financial software. On the Basic tab, select the checkbox titled Automatically create sub-accounts based on and then select Department.

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How to Handle Bank Deposits after Running Financial Exchange

11/30/2017 2:28:23 AM Jay Thompson

By default, cash from Point of Sale is placed in the Cash In Drawer account in QuickBooks, while checks and credit/debit transaction are placed in the Undeposited Funds account.

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QuickBooks POS: Handling Gift Card Returns

11/30/2017 2:28:23 AM Jay Thompson

You may encounter a customer doing a return, but used your store’s gift card as the original payment. If using the QuickBooks POS Gift Card Service, you can very easily return this amount to your customer’s gift card

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