LINKING QuickBooks Point of Sale to QuickBooks Financial Software
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There have been quite a few comments or questions about copying inventory into the QuickBooks financial program after linking it to QuickBooks POS. In a word, DON’T! When you link the two programs together POS takes over all inventory functions. It will move your items list out of the financial program, reclassify the items as non-inventory, change the quantity to zero and set them as inactive. POS assumes that it is the only program tracking inventory and if you add the items back into the financial program again you will get incorrect reporting of inventory value as well as incorrect financial reporting in other areas as well.
POS will send financial information to the financial program pertaining to the value of your inventory, cost of goods sold, shipping and freight costs, create bills for the vendor and a multitude of other things. If you start entering items back into the financial program the figures in POS and the financial program will not match up. POS will report the value of your inventory as one tthing and the financial program as something different. Once linked, inventory information flows from POS to financial but not the other way around.
Bottom line is once the two programs are linked make sure you do all your inventory updates in POS. This includes purchases, sales, cost/price changes and quantity adjustments.
Interested in a merchant account service that will work seamlessly within QuickBooks Point of Sale? Call us at (800) 609-0788 to find out about any current promotions and to help expedite the application process. Be sure to ask about Go Payment, Intuit’s mobile app for processing credit cards!
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