What Data Is Exchanged Between POS and QuickBooks Financial Software?

When you enable the company preference Use with QuickBooks Financial Software on the Edit->Preferences->Company->Financial menu, certain information is exchanged between POS and QuickBooks financial software.

Exchanges take place by initiating the exchange from POS by clicking on the menu Financial->Update QuickBooks.

The results of a successful exchange are shown below.

The Financial Exchange window summarizes what has been exchanged.

Some information is exchanged in both directions:

  • customer information excluding account balances
  • active vendor information

Once POS is installed and running, inventory transactions are managed in POS. Therefore, most information exchanges occur from POS to QuickBooks. These exchanges are:

  • customer payments
  • cash register payouts
  • sales and order deposits
  • receiving vouchers
  • financial impact of inventory adjustments
  • freight charges on inventory transfers between stores (POS Pro Multi-store)
  • time clock records (POS Pro)

To provide the ability for management to record some transactions that affect account balances and change customer credit limits, QuickBooks financial software exchanges this information to POS:

  • customer account balances
  • customer credit limits

Certain information is not exchanged in either direction:

  • inventory items and quantities after the initial import from QuickBooks financial software to POS
  • employees
  • employee commissions and tips
  • purchase orders

This information is summarized in this Intuit knowledge base article.

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Comments

  1. I need to recover a selection of dates and records from QB POS v10 into QB 2013 Accountant. I know the procedures for doing this, My question: if I happen to select dates or records in POS that are already in QB 2013, will these records duplicate in QB 2013 or will QB 2013 recognize that they exist and ignore them? Appreciate the feedback.

    • Chief Mechanic says

      QB should recognize that they’ve been transferred. However, the safest approach is to make a copy of both your QB company file and your POS data files and do a test using that copy to make sure. Always better to be safe than sorry.

  2. Can the daily sales from the QB POS be exported into QB Financial software? I would like to have this done daily, so that the sales are not all clumped together. Can this be an automated process, perhaps with the daily closeout of the POS register?

    • Chief Mechanic says

      Polly – Unfortunately, the exchange can’t be automated. You can change how data is summarized to an extent. In POS, take a look at Company Preferences. The POS default is to send sales receipts in a summarized fashion, but you can change this to send data in a detailed format. However, if you have a busy store, you may want to think about the need to accumulate all of that transaction detail in your general accounting package, since the details are available in POS. One benefit to using POS is that it keeps sales transaction detail from causing your QB company file from growing too large and becoming slower to use. With a busy store – that is, one with a lot of transactions from many customers – you’ll lose this benefit if you put transaction details in your main QB company file.

  3. Dana Talkington says

    I have a question about the Z-Out Store Close receipt…. Under “Dollars” you have Paid In amount which is gross amount of dollars you take per sale; then you have Paid Out amount….how does one incur a balance there?? What button am I pushing to incur a Paid Out?? I just don’t know where these monies are coming from, especially on days that we do not have any paid out!! Can you help me please….

    • Chief Mechanic says

      The terminology can get a little confusing, since different things connect to the term “Paid Out”. On store close reports, the “Paid Out” amount refers to amounts paid out to customers for any reason, such as making change or issuing a refund. There’s also a “payout” where you remove money from the cash drawer for any number of reasons (e. g., take it to the bank to deposit or make a charitable contribution). These payouts are made from the New Payout option on the POS menu. With these payouts, you’d identify the cashier, the amount, and the GL account for the monies being paid out. These amounts are identified as “Payouts” at the end of status and store closing reports.

      Hope that helps.