In some cases, business have such a high volume of sales and selling channels that syncing individual sales or a summary sales receipt, which contains all the items sold for the day, is too difficult to manage. Connex offers a simple way to summarize sales and COGS into QuickBooks.
What are the advantages of using journal entries?
Here are the advantages:
- You can easily summarize a large number of sales and categorize them by sales channel into QuickBooks.
- Entries can sync in a few minutes, but individual orders could take hours to sync.
- Adding hundreds of thousands of orders will decrease the performance of QuickBooks. By syncing journal entries, you will extend the life of the Accounting solution.
- Journal entries allow you to manage inventory and sales in your ordering solution, while QuickBooks will profit and loss. There is no need to manage COGS in QuickBooks and your ordering solution.
- To add COGS to QuickBooks, you must add inventory and give the product a value. Then, you must make sales. Since your ordering solution contains COGS, the only way to add them is through a journal entry.
- By asking Connex to add the entries, it will save several hours in manual data entry fees. A client of ours said hand entering a month of entries took over forty hours.
What reports does Connex query?
For Erply POS, Connex summarizes the Z-report and the COGS report. For Skubana, Connex queries the COGS and sales by sales channel reports.
What is the pricing?
The journal entry tool is available on the monthly or annual Ultra subscription plan.
To set up, you must instruct Connex which accounts to use.
- Login to your Connex account.
- On the My Connections page, select your ordering solution and click configure.
- Expand map journal entries.
- Click add new.
- Choose your entry type.
- Choose your debit and credit accounts.
- Choose the store location, which will group the journal entries.
- You can choose an optional class to assign to each entry.
Here is the end result:
What does a sample entry look like?
For Erply, here is a sample:
Income summary is a sum of sales for a store, minus sales tax. Income summary includes discounts and shipping. For Skubana users, our tool will create these entries:
- Income summary
- Total tax
For other entry types, please contact us.
Can I preview journal entries before they sync?
On the left of the journal entries page, click previewer.
Next, select a date range of entries you wish to preview, then click the blue Submit form button on the right to preview. This is the result.
How do I re-sync historical journal entries?
Here are the steps:
- Login to Connex.
- Select your ordering solution at the My Connections page.
- Click configure.
- Scroll down to sync journal entries to QuickBooks:
- Adjust the dates.
- Click submit.
- You will arrive at the pending journal entries page. Connex will put all entries in this queue. Once they are ready to download, run your web connector.
Connex will sync one group per day. If you selected February 1st to February 8th, Connex would sync entries for each day.