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QuickBooks Journal Entries

63 bytes removed, 20:36, 23 August 2018
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Text replacement - " {{top}} " to "=="
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|Accounting Integration}} for more information about the QuickBooks integration.
== Debits and Credits {{top}} ====
Debits and credits are a system of notation used in accounting to keep track of money movements (transactions) into and out of an account. Traditionally, an account's transactions are recorded in two columns of numbers: debits in the left hand column, credits in the right. Keeping the debits and credits in separate columns allows each to be recorded and totaled independently. The smaller of the two totals is then subtracted from the larger to give the account balance. An account may thus have a balance either the debit or credit side.
On a [[Accounting_Process#T_Charts|T-Chart]], debits are on the left and credits are on the right. Debits increase a debit account and reduce a credit account. Credits increase a credit account and decrease a debit account.
== T Charts {{top}} ====
The term '''T Chart (or T account)''', derived from the distinctive T shape, is mainly used when discussing or analyzing accounting or business transactions. T accounts are used to represent general ledger accounts. A general ledger account name or number is written above each T, with debit entries recorded on the left side of the T, and credit entries recorded on the right side of the T.
[[File:Fulfilling a SO paid for in FB.JPG]]
== Inventory Adjustments {{top}} ====
=== Cycle Count Adjustment: Increasing Inventory ===
[[File:JE_add_initial_inventory.JPG]]
== Sales Order {{top}} ====
=== Standard Inventory items ===
'''NOTE:''' Fishbowl has a module option to [[Accounting_Integration#Module_Options_General_tab|Send payment when order is fulfilled]], that may fit the needs of some companies.
== Purchase Order {{top}} ====
=== Purchase Order Standard Inventory Items ===
[[File:Bill credit return.JPG]]
== Manufacturing {{top}} ====
=== Work orders ===
[[File:Overhead transactions.png]]
== Costing Methods {{top}} ====
=== '''Using Average/LIFO/FIFO Costing Method'''s ===
[[File:Bill cost variance.JPG]]
== Account types {{top}} ====
The following table shows some of the account types used by Fishbowl.
|}
== Import/Export {{top}} ====
The following mapping information can also be found on the [[QuickBooks#Mapping|QuickBooks]] page.
{{QuickBooks Mapping}}

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