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Exporting from Liberty to QuickBooks

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  • Support Team
    started a topic Exporting from Liberty to QuickBooks

    Exporting from Liberty to QuickBooks

    Liberty provides two methods of "exporting" data to QuickBooks:

    1. Via the QB Link button - This is a separate program that requires a serial number in order to work. This can be purchased online in our store...

    http://resaleworld.com/store/product...&cat=17&page=1

    2. Via Activities > Accounting > Export - This is FREE!!! This routine only exports payout data, which is more than enough for certain stores. If you need everything exported, the QB Link is the way to go.

    Each time you export via the QB Link, you must make sure that A) your QuickBooks Company File is selected and B) that you "Verify Accounts"...



    Each entry in that list must have a G/L Account Name and/or G/L Account Type selected. Please consult a professional if you have any accounting questions, such as:

    "Which G/L Account Type do I select?" - Resaleworld might be able to tell you which Type to select, but we're not accountants. It's always best to check with a professional, should you have any questions in this area. Intuit, the makers of QuickBooks, also provide technical support.

    "Which G/L Account Names should I utilize?" - Each store has a different way of doing things. We can point out the basics such as:

    There is a "Cash" and a "Change" Payment Type in Point of Sale. These two are "friends." For example, if someone hands me a $20 bill for a $15 sale, $15 goes in the "Cash" bucket and $5 goes in the "Change" bucket. Many stores elect to set the G/L Account Names to match - e.g. 'CashChange' for both - so that change offsets cash. Otherwise, each account will continue to grow.

    Hopefully this gets most up-and-running! We have a QB Link Guide available for download via http://my.resaleworld.com/, should you need further setup instructions.

  • 2NDWIND
    replied
    I appreciate this!
    Erica

    Leave a comment:


  • Angel Vazquez
    replied
    Exporting Payouts

    Yes, you can specify which G/L accounts you would like the payout information exported into.

    From within the Inventory Module click on Activities > Accounting > Export > Quickbooks. You can type the name of your bank account in the checking account field as shown below.



    I highly recommend making a BACKUP of your Quick Books company file before importing your new payout information. That way if any adjustments need to be made to the account name, you can revert back to your original copy.

    Let us know if this helps!

    Leave a comment:


  • 2NDWIND
    replied
    Exporting payouts to QB free-? re: Payout Bank Acct

    Everytime I export our consignment payout information into QB the data goes into a "Bank" account called Payout. I would like to re-assign the account that the data is imported to - have it import directly into the correct and real bank acount. Can I do this from Liberty?

    Currently I take the individual line item checks, reassign the bank account and reassign the Account type.

    Is it possible to save myself these two steps?

    Thanks!
    Erica

    Leave a comment:

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