Point of Sale Integration with QuickBooks

Point of Sale Integration with QuickBooks

Inventory management of any business is the most integral and important part for its existence. Inventory software program plays vital role for business to help to manage inventory in most effective and efficient manner. It is not wrong if we say these inventory software programs are soul of business that’s how important they are. 21st century it is and we are witnessing the new technology in shape of modern inventory software, which help us track usage, analysis on inventory usage and regular monitoring of e.g. re-order level, maximum level, minimum level and detail of average usage in a given time.

Point of Sale (POS)

Point of sale is the most highly rated software used by millions around the globe. In large or small retailers we see it at point of billing where the machine automatically bill the product and computerize bill is generated. POS helps the user in many ways mostly it is easy to analyze the sale trend or data, having in knowledge of the vacated item and what to purchase. A complete sales history is maintain which are vital to take future possible decisions about purchases. The most important of all is possible of cash fraud or wrong price entry are totally mitigated because it scan the bar code on items.

Recently trends have shown that users not only ask for a simple point of sale software but they now require additional following features without which POS is considered to be incomplete they must have the following capabilities.

  1. Sales Reporting: This includes the maintaining  of sales history and then take it to the next level of sales reporting by analyzing  the data so it could help the making effective decision.
  2. Customer Management: Maintaining an effective communication between customers by marketing tools.
  3. Inventory Management: Manage the size of inventory keep up to date about reorder level.
  4. Employee Management: manage scheduling and payroll.

Software Components

Basically through two ways this software is implemented:

  1. On Site: This is the most typical and traditional way the license is purchase at first then it is install to your computer. The one who purchased is in charge for the use of software and also undertake the responsibility to update and maintain the software. Usually a highly professional IT expert is hired to undertake this work.
  2. Online Cloud Base: By paying some fee User get the online access to the software where he can perform all of his task. There is no need to update the software as it is online so automatically stay updated. And point to note is the work or data is secured and regularly had a backup so in case of any Networking issue data remain in safe hands.

What is POS Integration?

An integrated point of sale (POS) software, automatically syncs daily data from sales invoices to inventory. This procedure ultimately take manual data entry out of game. The major advantage are that it saves time as process become more efficient and human errors are avoided. Many of the business owner wish to keep the old lengthy process of bookkeeping to as minimum as possible, So integration of POC with QuickBooks Is exactly they want , this really help their cause Bookkeeping is done in most efficient manner. In this current volatile market we may found many POC system software with different features which allow user to work multiple tasks. The QuickBooks Point of sale is one of competent POS system that allow this kind of integration.

How to Set up Integration between QuickBooks Point of Sale and QuickBooks

It is assumed that you have POS in one system which is front end operation and QuickBooks into another system which is a back-office function, for the integration of QuickBooks with POS you must have a copy of QuickBooks company file in front end computer also, also make sure that QuickBooks is installed in both frontend and backend system and for the integration process the data file is must be located in back-end system, Open the QuickBooks file into front-end system by accessing it over the network from back-end computer, please close the copy of QuickBooks company file in back-end computer, and follow the steps,
The data given below is taken from Intuit Support website to enable user to follow the intuit recommended procedure for integration of POS with QuickBooks,

Version 10-12

  • Open Point of Sale and choose File > Preferences > Company.
  • Select the Financial preference, put a check mark on Use with QuickBooks Financial Software and click Set Up QuickBooks Connection Now.
  • Follow the wizard through to completion, ensuring that the QuickBooks file on the mapped network drive has been selected.
  • Click Next then Finish.

Version 5–9

  • Open Point of Sale and choose File > Setup Interview.
  • From the list, select Financial Exchange and click Yes.
  • Click Run QuickBooks Connection Wizard and follow the wizard through to completion, ensuring that the QuickBooks on the mapped network drive has been selected.
  • Click Next then Finish.

Version 4

  • Open Point of Sale and choose File > Setup Interview.
  • From the list, select Financial Exchange and click Yes to open the browse window.
  • In the Look in field select the mapped drive and double-click your QuickBooks company file. Complete the Financial Exchange section of the Interview.
  • Click Leave then Yes to save the changes.

Version 3

  1. Open your data file on the front register computer.
  2. Choose Company > Set Up Users then click Add User.
  3. Enter POS Remote for the User Name. Do not assign a password. Click Next.
  4. Select All areas of QuickBooks and click Next.
  5. On the Warning window, click Yes then click Finish.
  6. On the User List, click Close.
  7. Open Point of Sale and click Company> Interview > Financial Exchange.
    If the browse window does not launch:
    i) Click the button to the right of the Company File Name field.
    ii) From the Look in field, choose the mapped drive and click your QuickBooks company file.
  8. Complete the Financial Exchange section of the Interview.
  9. Click Leave then Yes to save the changes when Financial Exchange is complete.
  1. Initiate a Financial Exchange.
  • In QuickBooks, choose File > Switch to Single user mode if it is available.
    In Point of Sale, choose Financial > Update QuickBooks (for Version 3, click QuickBooks>Update)

Disadvantage of Integrated System

  1. Work Specific – the software design to focus on a specific task are always more work efficient and accurate. They are design to carry out a task in more comprehensive way but integrated software always lack that accuracy and effectiveness because they have to perfume many task at once.
  2. Training Expense – By introduction of new software which probably be unknown to the employee, expensive training is needed to teach them how to operate the new integrated software.
  3. Cost Benefit Analysis – In the current global recession period around the globe every businessman must avoid the unnecessary expenses. If you currently have a two parallel software running smooth then there is no need to make a heavy cash out flow.

Advantages of Integrated System

Most of the advantage been discuss above but still we will had a look at another very important one. Decision making or we can say a timely and effective decision making is the most important part of an organization. And too take right decision we need a data in systematic form not scattered so the owner can have a right analysis of the situation, with integrated system data standout in its best form make it easy for owner to decide the future of his business. All many would have argument against this system but I still believe that to keep up with the pace of global market The QuickBooks Point of Sale is must for the organisation it will mitigate many deliberate and non-deliberate work issues which are not healthy for any business.

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