Quickbooks Accounting Integration
QuickBooks business accounting system is the #1 rated small business system. In fact, almost 90 percent of small and medium-sized businesses use QuickBooks for their accounting purposes. But QuickBooks is not well suited to meet all of your small business’ logistical needs. You’ll need something more to effectively manage your inventory (your single largest expense) to supplement your Quickbooks accounting system.
With Finale Inventory’s integration with Quickbooks USA (both Online and Desktop) , we can assume the inventory management role and leave Quickbooks USA to what they do best: Accounting.
If you are having trouble keeping track of your inventory in QuickBooks, it is costing you valuable time and money. Finale Quickbooks accounting Integration is integrated with both QuickBooks Desktop and Online, and it will easily track your inventory across multiple warehouses and locations, lot numbers, and serial numbers. With our QuickBooks inventory management software, you will be able to run your operations in less time and eliminate costly errors, improving your inventory accuracy and lowering your costs.
Finale Inventory is easy to use, and saves you time by automatically pushing customer and transaction data through to QuickBooks, meaning you remove the hassle of manual data entry in different places, and ensuring accurate reconciliation of accounts.
It extends the accounting features of QuickBooks, giving users the ability to synchronize and authenticate inventory items, vendors, purchase orders, customers and sales invoices. Finale provides a one-way, user-initiated transaction synchronization with your Quickbooks company file.
Feature Demonstration Quickbooks accounting Integration Video
This tutorial video demonstrates how the Quickbooks accounting integration and shows you the results in a Quickbooks Desktop company file. Additionally, there are other tutorial videos that show how to install and configure the Finale Inventory Integration add-ons for both Quickbooks Desktop and Quickbooks Online.
Hello, and welcome to another demonstration video for Finale Inventory. In this video, we’re going to cover, start to finish, the actual QuickBooks integration with Finale Inventory. We’re gonna show you how everything gets accomplished, what happens and what gets transferred between Finale Inventory and QuickBooks. So this will be both relatively the exact same for both QuickBooks Desktop and QuickBooks Online. It’s just that the end product looks a little different on the online than it does in the desktop. We’re gonna basically use the desktop as the example for this video.
So the first things that you probably are gonna be wondering is, okay, we’ve already covered in other videos how to actually add the Quickbooks accounting integration to Finale Inventory. That’s where you add the plug-in to the browser so that it can communicate with your QuickBooks Desktop or your QuickBooks Online. Second video that was covered prior to this one is the configuration and setup of the actual integration with QuickBooks. So this is the third video in the series of, basically, now you’re gonna be able to see, well, what happens in Finale Inventory? And when I create items or update items in Finale Inventory, how does it get into QuickBooks and what does it look like? So that’s what we’re gonna cover here.
So, first things first, here is the basics of Finale Inventory, suppliers, purchases, inventory, sales, customers. You must have a product before you can have stock. And you create a product first, you then will create a purchase order from your vendor, which you must have created, to actually then order products, receive it in the inventory, which will then become stock. And then you must create a sales to sell it to your customer. So we’re gonna do the whole thing. So as you see, I have no suppliers, I have no purchase orders, I have no products. And I have no sales, and, of course, I have no customers.
So, let’s begin. We’re gonna create a new product. And we’re going to just go ahead and create our own custom product and just call it, YourProductID. You could use a system-generated product, but we’re just gonna go ahead and for this example create your own. So as we create this new product in Finale Inventory, we’re gonna give it a description of Your Product. And let’s save this new product. So we now have a new product. So if I was to look at my products, I have a description called Your Product and a product ID which is YourProductID. I don’t have any stock on hand because we’d have to actually have a purchase order to a vendor to get into this product. So that might be the next place that we’re going to go. So we’re gonna go right back to Home. We’re going to set up a new supplier so that we can order some of this product.
So I’m going to set up a new supplier. My new supplier is Example Supplier. And let’s save that change. So we now have a one supplier here called Example Supplier. And then, of course, we need a purchase order. So let’s order some of this of our new product from our new supplier. So we’re gonna go ahead and do a new purchase order. And this, we’re just gonna call this YourPO. And, of course, we’re gonna set up a purchase order, we’re gonna pick the supplier, our Example Supplier. We’re gonna go ahead and add our product that we’ve set up. So I can just double click here, I can start typing in my product, YourProductID. There it is. I’m gonna double click here, add a product to my order, my purchase order. And let’s go ahead and put 100 of these, and we’re going to pay $1 a piece for them.
So, we’ve real quickly set up a very simple purchase order. We’re gonna purchase 100 of YourProductID from this Example Supplier. So we’re gonna go ahead and mark this “Committed” for the order. And now we can look at our purchases. We have a purchase order out here. If we now go to our inventory and we look at stock, we have 100 available, which are the on order, but we have none in stock yet. So the next thing we need to do is go ahead and receive this purchase order for this 100 that we have on order. So we’re gonna go right back to our purchase order. And we’re gonna pull up our purchase order and we’re gonna go to the shipment. And we’re going to receive this shipment from this supplier. So we can quickly use the “Update shipment to match my order.” Fills in, automatically agrees with what we have on order. We’re gonna receive this shipment. And now we have a quantity on hand of 100, which matches our availability.
So, real quick, you can see everything that we’ve done. We now can go to our stock, we see our stock levels are on hand. The next item you would say is, “Okay, we need to sell some products.” So, of course, we need a customer to sell to, so we need to go set up a new customer. And we’re gonna go ahead and create an example customer. And we’ll save this example customer and you can see them right here on the list. And now we need to create a sale. So we’re gonna do a new sale, and we’re just gonna call this New Sales Order. And we’re gonna go ahead and pick our Example Customer and we’re gonna sell them some of this product, which of course we created a while ago, called YourProductID. So we’re gonna go ahead and select this product ID and we’re going to go ahead and sell it to them for $5 each. And we’re gonna go ahead and sell them, let’s say, 25 of them. So there’s our real quick entry of a sales order. So I can save this sales order. If I wanted to add such other miscellaneous charges that were not a product, I could add something like a shipping fee.
So I’m gonna go ahead and add a discounter fee here within theQuickbooks accounting integration, and I’m gonna pick shipping because I’ve already preset this up, and I’m gonna charge them $25 in shipping. And I’m going to save that additional charge, and I’m gonna go right back to this order so you can see that we’ve got a basic sales order. We’re selling them 25 of YourProductID at $5, subtotal. We’ve also added on shipping charges of $25 for a total order of $150. So we’re gonna mark this order “Committed” and we’re gonna go ahead and just take a step back and we can see the actual order here. We can go back to our stock and we can see that our available quantity has gone down by 25 by that sales order. If I turn down and look at the product in my stock, and I can see that I’ve got 100 on hand but I’ve got a new sales order here for this example customer that’s gonna claim 25. It’s got them on reserve because we committed it. So our available goes down, but our quantity is on hand.
So we’re about ready to ship our product, so let’s go ahead and ship the product. So we would simply go back to our sales. We can open up the sales order, and we’re ready to ship this order to our customer. So we’re gonna go to the Shipments tab. We’re gonna go ahead and update the shipment to match the order because we’re gonna go ahead and ship it full. And let’s go ahead and ship the order. So we’re gonna go ahead and take care of this order. It is on its way.
So now that we’ve actually shipped something, we may wanna go ahead and add an invoice for this shipment. So we’re gonna go ahead and add an invoice to this sale. We just now added the invoice. So now if we go back to our sales order, we can see that we’ve got the sales order, we’ve got a shipment, it’s already been shipped, and there’s also an invoice tab out here, and we’ve already got an invoice. So we’ve now completed fully round trip, everything. We’ve created a new product, we created a new supplier, we created a purchase order and order from that supplier, we received that shipment in from our purchase order which got it into our stock. We then created a new customer, and we created a sales order to that new customer. We shipped that customer the product and they have now certainly, hopefully, have received it.
So now we’ve created just about all the transactions that you might for an example see inside your business. And now we will take a look at how this stuff gets into QuickBooks. So, of course, we’ve already set up our Quickbooks accounting integration. If we go ahead and take a look at our QuickBooks, we’ll notice that over here in my company file, we’ll take a look at the vendors. I don’t have any vendors here yet. So it’s a brand new company file, I don’t have any vendors. If I look at my customers, I don’t have any customers. I don’t have any transactions against us. So if I were to look at my item list, so I’m gonna go look at my items, I don’t have any inventory over here. So let’s go take a look now and do this integration and see what the ramifications of what we’ve done.
So we’re gonna go back to our company file here, and let’s go ahead and go to the integration. So we’re gonna click on the Add-ons and integration. We’re gonna click on our Quickbooks accounting integration plugin here. And that’s gonna make a link and actually determine what transactions inside Finale have not been synced with our company file. And here we go. You’ve got a list of what’s going to happen if you are to press the sync button. So you can see that we’ve got a new product called Your Product. So it’s gonna come across, and it will create a new product in QuickBooks. We got a customer, Example Customer. It’s gonna create a new customer in QuickBooks. The vendor, a new vendor, invoice, there’s a new invoice and the purchase order. All of them in one file sweep. So everything is gonna come across, we simply now hit the sync button. And if everything was configured and set up appropriately, all the transactions will just simply disappear off the screen.
So, at this moment it’s coming down from the cloud and transmitting into our QuickBooks Desktop company file. So that’s it, we’re done. That’s as easy as it is. So if we go back over here you will now see that, “Hey, we’ve got an example customer. They now exist over here.” I bet if we look at the transactions over here we might be able to see an invoice. There’s the invoice for that customer. So we can look at the vendor, we have an example supplier. And there’s a purchase order and the window right there for $100. So you can see the transaction here for any purchase orders against this supplier. So you can see the purchase orders here. We can go take a look possibly at our item list and you can see that the new product that was created in Finale is also created inside QuickBooks for you. So, of course, now your next challenge is to go ahead and enter a bill to your supplier so you can pull in that purchase order and get the billing actions going.
Well, that’s it. That’s our quick demonstration on how the Quickbooks accounting integration works and what comes across into your QuickBooks company file.
(Videos: See complete list of available videos)