QuickBooks Online Integration Configuration
Beyond the one-time setup of the QuickBooks Credentials to allow Shopkeeper to talk to your QuickBooks Online, you will need to set up the general ledger accounts.
From the VJS Maintenance Menu
Select QuickBooks Online Integration
Setup QuickBooks® Import Account Numbers
To understand how Shopkeeper Q-Link records a Journal Entry in QuickBooks® using the “Default QuickBooks® Account Numbers” refer to the QuickBooks® General Journal entry Figure : QuickBooks® Journal Entry Created by Shopkeeper
Note that QuickBooks permits “Nested” or Sub-Accounts, where, for example “Account 1215 Diamond Inventory” might be organized to be a sub account of 1200 Inventory. This type of arrangement is compatible with QuickBooks Link, but there’s a catch: The first time such a subaccount is used (actually used in a GJ entry) , it needs to be a standalone account in QuickBooks because the first export links Shopkeeper and QuickBooks. After think link has been established, the account can be ‘Moved’ in QuickBooks to be a sub-account.
Figure 2: QuickBooks® Journal Entry Created by Shopkeeper
Figure 3: Shopkeeper QuickBooks® Link Defaults
Income Accounts
Income accounts are for the “Income” section on the QuickBooks® Profit & Loss Statement.
• Inventory: Sales from showcases of merchandise the store owns.
• Memo: Inventory designated as MEMO merchandise in Shopkeeper. Only merchandise inventory received to an invoice designated with “MEM” at the start of the invoice number is considered Memo merchandise.
• Special Orders: Sku no’s from sales entered using Enter a Special Order (choice 1,3)
• Repairs: Sku no’s sold to major class categories designated as repair type 1 or 2 will be calculated as repair sales.
• Appraisals: Sku no’s sold in major class categories designated as repair type 3 will be calculated as appraisal sales.
Cost of Sales Accounts
Cost of Sales Accounts are for Cost of Goods Sold section on the QuickBooks® Profit & Loss Statement.
• The store’s cost for showcase inventory Sku no’s sold
• The store’s cost for special order Sku no’s sold
• The store’s cost for memorandum Sku no’s sold
Asset Accounts
Asset accounts are for “Asset” section on the QuickBooks® Balance Sheet Statement.
• Inventory: Sales from showcases of merchandise the store owns.
• Monies Received are cash, check and charge cards that are to be deposited to the bank.
Liabilities Accounts
Liability accounts are for “Liability” section on the QuickBooks® Balance Sheet Statement.
• Sales tax collected
Important Note:
The Sales Tax liability account that you specify in Shopkeeper QuickBooks Link, must not specify the ‘offcial’ sales tax account in QuickBooks. This is because this official account in QuickBooks is specifically linked to sales tickets/invoices in QuickBooks and QuickBooks Link does not export individual sales tickets.
Instead, you specify a more generic liability account which will serve the same purpose.
• Sales Deposits are money collected on unfinalized sales (layaways, special orders) and money collected on credit slips/gift certificates. When the layaways are paid off or the gift certificate and credit slips are redeemed the customer deposits liability is reduced. Some days you’ll increase this liability account such as when you accept layaway deposits or sell gift certificates. Other days you’ll decrease this liability as you deliver layaway sales but receive only the small partial payment, or when a customer redeems a gift certificate.
The default numbers provided are preferred, but you may change them.
For a more comprehensive explanation of how the general journal entry fits into the picture, refer to Geller’s QuickBooks for Jewelers guidebook.
Customize QuickBooks Accounts Based on Major Code
In Jewelry Shopkeeper each Major Class code can have a different income and cost of goods account if you update the Major Class Code setup.
Choose Major Class Codes from the Maintenance Menu, select a major class and choose the GL & Commission page/tab.
In most cases you do not have to select a GL code for major codes because the default is usually appropriate.
Make this change only when you want to override the defaults. For example, if you don't want the retail or cost value of diamonds to be incorporated in the normal showcase sales cost or retail, you could change it for the diamonds major codes.
