Financial Exchange(Update QuickBooks from POS): All You Need to Know

Overview

• Point of Sale tracks your inventory and customers, purchasing, receiving and sales.

• QuickBooks (financial software) helps in paying bills, managing cash flow, invoice customers and run financial reports.

• Financial Exchange is a process of sharing information between these two programs. It is usually done anytime or at the end of day. It reduces your workload as it prevents you from entering the information twice.

Detailed Information

Requirements for Financial Exchange

Note: Intuit strongly recommends integrating supported versions of Point of Sale with supported versions of QuickBooks. The following are the supported versions of QuickBooks for POS versions 2013 and 12.0:

• QuickBooks Pro and Premier: Versions 2014 - 2017
• QuickBooks Enterprise Solutions: Versions 14.0 - 17.0

 
Before you can connect Point of Sale to your QuickBooks financial software and share data, the following must be met:

• Install supported versions of QuickBooks Pro, Premier, or Enterprise Solutions on the same computer where POS is installed
• QuickBooks must be open to establish the connection between the programs

  

Data Transferred During the Exchange

 
Data is exchanged from Point of Sale to QuickBooks as well as from QuickBooks to Point of Sale.
Note: To avoid discrepancies and to save data review time, we strongly recommend that you add or edit items, customers, and vendors in POS only after you have begun sharing data with QuickBooks.
 

Data transferred from Point of Sale to QuickBooks:

• New customers and updated customer information (except for account limits and balances
• New vendors and updated vendor information
• Sales information (receipts)
• Receiving information (vouchers
• Inventory cost or quantity adjustments (as a summary adjustment Journal Entry)
• New vendor payment terms

Data transferred from QuickBooks to Point of Sale:

• New customers
• Updated customer account limits and account balances
• New vendors
• New vendor payment terms

For More Help on Financial Exchange
Visit: www.qbtechs.com