Reconciliation

[Becks2481]

How are people reconciling between Bizwizard and their in house accounting system. Just trying to get a feel for the different techniques.

[Briana312]

How are people reconciling between Bizwizard and their in house accounting system. Just trying to get a feel for the different techniques.

We are having to enter each sale in our accounting software (quickbooks). I wish we could export orders to a spreadsheet or something then import but I'm not even sure if quickbooks could do that.

[M. David Matney]

We are having to enter each sale in our accounting software (quickbooks). I wish we could export orders to a spreadsheet or something then import but I'm not even sure if quickbooks could do that.

Why not just enter your total sales? You doing double work if your entering each sales into quickbooks.

[5StarAwards]

I'm trying to figure this out as well. I am thinking that maybe I could enter total sales for the day. But then I also have credit card sales that I need to post, and checks received/deposited. I'm really not sure how to do all this such that it doesn't mess up my QB file. I might just call my accountant on Monday. The other thing is that I am used to watching my sales and P&L in QB constantly - that is my barometer and I use it to see where I am compared to previous and current YTD. I don't want to do double work, but this barometer really tells me where I am. Anyone have a "system"? I would love to hear it.

[M. David Matney]

All you really need to do is use the Financial Posting Summarization to post info info Quickbooks. If your entering each transaction, you are double entering and doubling your workload. Simply run your financial posting summarization, enter the 5 figures as journal entries once a month, or once a week, or once every 2 weeks, and your done. Takes 5 minutes.

I think maybe its time to do a video on how to do this, as it seems to be throwing alot of people for a loop.

[Jeff Giffing]

We created separate accounts in QB; such as Biz Cash, Biz Checks, Biz MC, Biz Visa, etc. and then enter them daily using the Financial Posting Summarization. We could post weekly or monthly but find that daily posting works best for us. We just post 1 sale for all cash transactions, 1 sale for non-taxable checks, 1 sale for taxable checks and so on. Our accountant logs on remotely once a month to our Quickbooks file and he has everything he needs for accounting purposes:)

[Briana312]

Do you have to keep track of different sales tax rates by county or state?

[M. David Matney]

Do you have to keep track of different sales tax rates by county or state?

This is more of a question for your State Tax Board to find out whether or not they require your business to collect different tax rates for different counties and states. BizWizard Order Manager and ShopKart support it if they do.

[Briana312]

We do have different sales tax my county, state and even local levels....and it makes the reconciliation process more complicated that just BW Checks, BW Cash, etc. We would need an account for each sales tax rate multiplied by each payment method. Just wondering how other people manage that :)

[M. David Matney]

All you need is one account called Sales Tax. Use your Financial Posting summarization and post the tax liability to the sales tax liability account. When you fill out your sales tax report at the end of the month, run the Sales Tax Summarization for the breakdown.

[Briana312]

ohhhhhhh..... thank you :)