Go to Settings → QuickBooks Desktop
Users managing their accounts with QuickBooks Desktop can now keep their records in sync with retailcloud data more easily by exporting transaction data within a selected date range. Users can use QuickBooks Desktop to manage the account postings for QuickBooks reporting. QuickBooks Desktop allows users to keep their records up-to-date. They can generate a file from retailcloud, containing the relevant transaction data, and import it manually into QuickBooks Desktop. Users can specify the time range they want to export, ensuring control over their data.
The Download Journal feature lists all exportable batches, showing details like total debit and credit amounts for each. Users can see the transactions that can be exported/deleted, providing a history to help with tracking and reconciliation. The download file option (the link that’s sent via email) will expire in 7 days, if needed again, users can select the date range and download again from the console.
Journal #: Unique identifier for each journal entry.
Batch #: Specific batch number, allowing users to distinguish between different groups of transactions.
Category: Type or category of transactions included in the batch.
Created On: Date when the batch or journal was created.
Total Debit and Total Credit: Summed debit and credit amounts for each batch, giving a quick overview of the financials. The user should be able to see which previous batches have been created and the total Debit and Credit for those batches. Batches may need to be deleted and re-exported as well.
The system will record debits as negative values and credits as positive values. This setup helps users accurately balance expenses (debits) and inventory adjustments (credits) within the same account, ensuring precise financial reporting and easier reconciliation.
Account Mapping Setup is where the transaction data is mapped to the accounting system using key financial fields such as:
Taxes: Represents the total sales tax collected from transactions.
Net Sales (Total Sales - Taxes): Captures gross sales minus taxes to calculate the true revenue.
COGS (Cost of Goods Sold): Reflects the direct costs of producing or purchasing the goods sold, crucial for profit margin analysis. For COGS transactions, both debit and credit entries are required for the same account, meaning duplicate account names are permitted in that case.
Sales by Credit: Represents total sales processed through credit card payments.
Cash Tender: Represents sales completed via cash payments.
Sales by Amex: Segregates sales made using American Express (Amex) credit cards.
Sales by Non-Amex: Tracks sales from non-Amex card transactions, such as Visa, Mastercard, etc.
We have the capability to delete a journal entry, which will remove it from the current journal records. Once deleted, a new journal can be generated by posting the data again, allowing us to create a fresh journal entry with the latest transaction data. This process ensures that any outdated journal entries can be effectively replaced with updated information.
Articles in this section
- Item Import Field Descriptions
- Overview
- Merchant Onboarding
- Navigation Bar
- Reports
- Items
- Settings
- Dashboard Overview
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