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QuickBooks Journal Entries

24 bytes added, 14:57, 23 August 2018
Text replacement - "{{Module|Accounting}}" to "{{Module|Accounting Integration}}"
If you are integrating Fishbowl with QuickBooks, it is necessary to know what accounts are being affected in QuickBooks each time you export from Fishbowl. Invoices, Bills, Credit Memos, and Inventory Adjustments will be created in QuickBooks depending on the function completed in Fishbowl. In addition, Fishbowl must also modify the accounts associated with these functions. These accounts may range from Cost Of Goods Sold, Sales Retail, Inventory Asset, and Accounts Receivable to name a few. The information shown below provides detailed descriptions of each function and how completing this function in Fishbowl affects the accounting aspect in QuickBooks. Please note, however, that the below information is given using the standard Fishbowl created accounts in QuickBooks. If you have mapped Fishbowl to different accounts than the default settings, your accounting results may vary slightly from the information given on these pages. See the {{Module|AccountingIntegration}} for more information about the QuickBooks integration.
== Debits and Credits {{top}} ==
# In QuickBooks, open the '''Chart of Accounts''', create a new account, set the type to '''Other Current Liability''', and name it '''Advance Customer Payments''' or something similar.<br>[[File:Advance Customer Payments Account.png]]
# In Fishbowl, open the {{Module|AccountingIntegration}}, click the checkbox to import '''Accounts''', and then click the '''Import''' button to the left of the checkboxes.<br>[[File:Import Accounts from QuickBooks.png]]
# In Fishbowl, open the {{Module|Part}}, click the {{Button|New}}, enter '''Prepayment''' or something similar in the '''Number''' field and select '''Service''' as the '''Type'''. Create a corresponding product and then click '''Next'''.{{Vertical Spacer}}[[File:Create Prepayment Part.png]]
# On the '''Default Accounts''' step of the wizard, map both the '''Expense''' and '''COGS''' accounts to the same '''Service''' account. Map the '''Income Account''' to the newly created '''Advance Customer Payments''' account.<br>[[File:Map Prepayment Part Accounts.png]]

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