Make sure that all activities in The Edge have corresponding accounts in QuickBooks, you should have accounts for the following:
|
Account Type |
Account Name |
Sub Account of… |
|
Other Current Asset |
Store Charges |
|
|
|
Inventory Asset |
|
|
|
Inventory QB |
Inventory Asset |
|
|
Inventory EDGE |
Inventory Asset |
|
|
Inventory Scrap |
Inventory Asset |
|
|
Inventory RTV |
Inventory Asset |
|
|
Inventory Assembly/Disassembly |
Inventory Asset |
|
Expense |
Balance Adjustments |
|
|
|
Missing Inventory |
|
|
|
Rewards Cards |
|
|
|
Referral Fees |
|
|
|
Item Donation |
|
|
|
Item Giveaway/Promotion |
|
|
Income |
Fee Income |
|
|
|
Appraisal Income |
|
|
|
Shipping Income |
|
|
|
Interest Income |
|
|
|
Product Sales |
|
|
|
Showcase Sales |
Product Sales |
|
|
Special Order & Memo |
Product Sales |
|
|
Shop Sales |
|
|
|
Jewelry Repair |
Shop Sales |
|
|
Scrap Income |
|
|
|
Care Plan |
|
|
Other Current Liability |
Customer Appraisal Deposits |
|
|
|
Customer Layaway Deposits |
|
|
|
Memo Out Deposits |
|
|
|
Special Order Deposits |
|
|
|
Repair Deposits |
|
|
|
Gift Certificates |
|
|
|
Refunds Due |
|
|
|
Store Credits |
|
|
|
Memo Goods |
|
|
|
Memo Payments Due |
|
|
|
Consignment Goods |
|
|
|
Consignment Payments Due |
|
|
COGS |
Cost of Goods |
|
|
|
Special Order & Memo |
Cost of Goods |
|
|
Showcase COGS |
Cost of Goods |
|
|
Scrap COGS |
|
|
|
•We will use all of the above accounts in The Edge when we set up the QuickBooks integration. •Create a customer named “Point of Sale” in QuickBooks. This is where The Edge will post all sales data. •Create a vendor account where you pay your sales tax to specify where The Edge should post tax liability. •Create a payment method in QuickBooks for each method of tender taken in The Edge. |
