Point of Sale Integration with QuickBooks, How to Integrate
No doubt QuickBooks is one of the most popular software for accounting with almost 91% of happy user. This accounting software provides the best features; one of them is QuickBooks POS. In this article we will discuss the point of sale integration with QuickBooks.
Why Do You Need to integrate Point of Sale with QuickBooks
Intuit offers three different version of QuickBooks i.e. QuickBooks Online, QuickBooks Desktop (Pro, Premier, and Enterprise) and QuickBooks Mac. So why do we need QuickBooks Point of Sale. QuickBooks POS is specialized in accounting; it keeps accurate books and tax information
And as we know there is really no replacement for the software that specializes in accounting. Integrating with specialized software optimizes your business abilities by combining the best of everything available.
Benefits of QuickBooks and POS Integration for Your Business
Integration of POS with QuickBooks can increase your business efficiency as a result you will save more time because all work will go automatically. Now it is time to make sure that you are using the data to your favorite.
For example, based on the purchase data recorded by your POS, you could modify costs throughout a slower day of the week or establish a recurring sale throughout that interval. Review accounting information, later on, to see how these variables affect your finances as a whole.
As another example, if your accounting data shows you’re losing cash on shipping prices, use POS figures to decipher that things needless stock thus you’ll be able to consolidate shipping processes. Use POS and accounting data to see how efforts, like staying open an additional hour or raising costs, affect your company’s growth and sales. POS data gives you the information you need to keep a pulse on your business numbers and customer buying preferences, permitting you to leverage that data to drive sales.
Types of QuickBooks and Point of Sale Integration
Before we start setting up the integration of QuickBooks and POS, it is important to understand how exactly these two software work together. Here, we’ll show you two main methods through which the Point of Sale system and QuickBooks accounting software can work together. Without delaying further, let’s get started.
- Indirect Integration: In this method of integration, you can export your company financial data from the POS system in the form of an excel sheet. Then you need to manually enter the data into the accounting software you are using. This method can be proven to be time-consuming but it does allow you to sync financial and accounting data between QuickBooks and Point of Sale.
- Direct Integration: If you want to utilize your time and want to work more efficiently then the Direct integration method is best for you. Using this method, you’ll be able to do real-time sharing of data between Point of Sale system and QuickBooks. Undoubtedly, Direct integration will increase the efficiency of your business.
- Unlike the indirect integration, you don’t have to manually enter the information from the excel sheets into the accounting software that will be both times consuming and also could lead to errors. Using Direct Integration, you can utilize the time as well as reduce human errors at the same time.
- If you are syncing the POS system with QuickBooks accounting software then you’ll be able to easily generate detailed reports that will help you in understanding the business sales and growth. To grow a business it is important to take risks and do experiments. Whenever you do some changes like this in your business then due to integration with the Point of Sale, QuickBooks will get a feedback report that will help you in making important decisions regarding your business.
The Process of Integration between Point of Sale and QuickBooks
- Follow mentioned steps to Integrate POS ( It is only for version 10-12)
- Open your Point of sale and Choose File> Preference.
- Now choose financial preference, and checkmark on the box stating Use with QuickBooks Financial Software, and then click on Set Up QuickBooks Connection Now.
- Now, make sure that the QuickBooks file on the mapped network has been selected.
- Click Next then Finish.