Review all QuickBooks setup with your accountant and/or bookkeeper responsible for maintaining the accounts.
To properly integrate The Edge with your QuickBooks Company file, there are several steps to complete:
•Assessment/Qualification:
o Will integrating The Edge/QuickBooks save in bookkeeping time?
o Am I ready to integrate The Edge with QuickBooks?
o See “Should I Integrate” and “When Should I Integrate” in the section entitled QuickBooks FAQs.
•Getting Prepared:
o Purchase QuickBooks Pro Desktop or QuickBooks Online
o Read The Edge/QuickBooks documentation (review with your accountant)
o Create a new QuickBooks Company Files or prepare your existing company files by:
o Adding the necessary point of sale Customer Record, Vendor, Payment Methods
o Adding required accounts to your QuickBooks Chart of Accounts (COA)
o Prepare the Chart of Accounts (COA) for integration
o Plan The Edge/QuickBooks start date (with your accountant) for The Edge to begin posting detail to QuickBooks
o Prepare starting balances (with your accountant)
o Update The Edge (plan to install the latest version of The Edge before integration)
o Consider obtaining the advice of a QuickBooks-certified retail consultant knowledgeable in the jewelry industry.
•Integrating The Edge with QuickBooks:
o Allow initial integration:
o QuickBooks Desktop: Install QBFC from www.EdgeUser.com
o QuickBooks Online: Authenticate server through Edge
o Set QuickBooks Permissions (QuickBooks needs to be set to allow The Edge to post data)
o Map The Edge with QuickBooks:
• Link point of sale customer to a single customer record in QuickBooks (this is where are all sales data will post to in QuickBooks)
• Link The Edge features to QuickBooks chart of accounts
• Link MISC charges to QuickBooks chart of accounts and be prepared to update these links as your MISC charges change
• Link Tax definitions to QuickBooks tax vendor
• Link The Edge stores to QuickBooks classes (optional for multi-store users)
• Link The Edge credit card types to QuickBooks payment methods (matched by the exact name). Be prepared to update this as you add payment methods.
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Review all QuickBooks setup with your accountant and/or bookkeeper responsible for maintaining the accounts. |
•Initial Posting from The Edge to QuickBooks:
o Set a QuickBooks start date (in The Edge) as planned with your accountant/bookkeeper (The Edge sets all prior data as “already posted”)
o Post from The Edge to QuickBooks for the first time
o Set starting balances for all accounts in QuickBooks (with guidance from your accountant/bookkeeper).
•The Edge/QuickBooks Maintenance
o Post from The Edge to QuickBooks regularly (perhaps each morning)
o Make certain bookkeeping staff follows The Edge/QuickBooks Maintenance Procedures.
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Abbott Jewelry Systems, Inc. cannot be held responsible for the maintenance of your QuickBooks financial data. The relationship between The Edge and QuickBooks is unidirectional, meaning The Edge posts to QuickBooks but is unaware of any journal entries, additions, or subtractions of data that occurs directly in QuickBooks. Resolving inaccurate financial information is not something with which we have the expertise to assist you. You would need to seek assistance from your accountant. Be sure to maintain your books!
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The Edge team has provided a procedural document which explains some important accounts and functions that must be managed directly in QuickBooks regularly. Failure to maintain these procedures will result in inaccurate financial statements. Contact The Edge Support Team for the current procedural document. The following video tutorials may be helpful in reconciling accounts:
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QuickBooks: Reconciliation Procedures: Undeposited Funds and Refunds |
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QuickBooks: Reconciliation Procedures: Memo Payments Due |
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QuickBooks: Reconciliation Procedures: Consignment Payments Due |
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QuickBooks: Reconciliation Procedures: Inventory RTV |
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QuickBooks: Reconciliation Procedures: Inventory QB |
