How To Sync Transactions between Point of Sale and QuickBooks Desktop?
It is important to integrate QuickBooks Desktop with QuickBooks Point of Sale as it saves time and money. For this purpose, a feature called Financial Exchange is used. In this process, information between Point of Sale and QuickBooks Desktop can be done any time while reducing the workload as it helps to avoid double-entry of the transactions. Before learning about how to synchronize Point of Sale with QuickBooks Desktop.
It is important to know that financial exchange can be performed only from the server workstation. While carrying out the sync, QuickBooks Desktop Financial Software file should be open or have the access to open automatically during the exchanges are being carried out. Once the exchange is completed, a window pops up on the screen that shows the summary as to how many transactions have been carried out and if there are any errors. If there are any errors, select the View Activity Log option to get information regarding the same.
What is the kind of data is transferred while the exchange takes place?
From Point of sale to QuickBooks, the data transferred is:
- New and updated customers.
- Information about new and updated vendors.
- Receipts of sales, all the information related to it.
- Vouchers for purchases, all the information.
- Inventory cost and adjustments of the quantity as an adjusting journal entry.
- Payment terms of the vendors who are new.
From QuickBooks to Point of sale, the data transferred is:
- New customers’ list.
- New vendors’ list.
- Payment terms of new vendors.
- Account limits and balances of the new and updated customers.
A financial exchange procedure can be done in two ways:
Using the EOD (End of Day) Procedure
- Choose the point of sale > End of Day Procedure on QuickBooks Desktop point of sale server workstation.
- On that EOD window, make sure that the exchange data with QuickBooks box is selected or you can choose the option as per the requirements of your transactions.
- Click OK.
Exchange of Data Manually
- In the financial menu, select the Financial center and go to the Update QuickBooks Now.
- The manual exchange is usually done when you need to billings in between the day from QuickBooks desktop or there is a need to make sure that QuickBooks point of sale data is up-to-date per minute.
To make sure there are no errors further and save the reviewing time of data, the adding/editing of items, customers and vendors only after the process of sharing of data have been started.
If you are facing any kind of issues related to QuickBooks, immediate contact at our QuickBooks Desktop Tech Support Number 1-855-857-0824 and get the technical assistance of Certified QuickBooks ProAdvisors.