quickbooks vend integration
Sync QuickBooks And Vend | Connect QuickBooks with Vend | Link QuickBooks And Vend
Vend is multidimensional retail management software which helps retailers in running their business in-store, and the on-the-go effectively. It is well-renowned cloud-based point-of-sales software which provides services of inventory management, reporting analytics and customer loyalty. This software integrates seamlessly with world renowned software like QuickBooks, Shopify, Xero etc. By using Vend software, users can open up a shop window to the world with perfect Point-Of-Sales (POS) for brick and mortar, e-commerce and mobile retail. This software manages operations like controlling products, prices and customer data across multiple locations, from any connected device, with precision and perfection. Vend delivers reports on financials like tracking sales, revenue and profit margins by product, brand, and staff or store perfectly and can take corresponding actions so that users can make best business decisions.
Integration of QuickBooks and Vend
By integrating these two apps, users can accelerate their accounting workflows so that you can less time on accounting and more time on your business. The integration process automatically syncs sales, cost of goods (COGS) and On Account sales and also keeps tracks of purchase orders by posting them directly as accounts payable invoices. In addition, it helps in tracking income and expenses, automatically sorts out transactions into tax categories, maximize tax deductions, manages invoices, automatically sorts out business expenses into right tax categories to keep track of income, tracks invoice status, automatically sends payment reminders and match payments to invoices. The integration of Vend and QuickBooks Online enables users to post their end of day sales, purchase orders, store credit, payment counts, gift cards and cost of goods sold to QuickBooks Online account. It reduces the burden of double data entry and accelerates accounting workflows.
Before integrating these two apps, do begin setting up of few parameters in these apps
1. In Vend app, do set up all your tax rates.
2. In QuickBooks Online app, do set up all your tax rates.
3. In QuickBooks Online app, do set up a payment discrepancies product that will allow users to track differences between the amount expected and the counted amount.
4. In QuickBooks Online app, do set up an inventory asset account where your purchase orders will be sent.
5. In Vend app, do set up product types in products sections so that your sales can be broken down by product type.
6. In QuickBooks Online app, create a Discounts item, if you want discounts to be mapped to a different item.
7. In QuickBooks Online app, do set up a corresponding product or service items for each product type in Vend app.
8. In QuickBooks Online app, do set up a store credit/gift card liability expense and liability account.
Now, the integration process starts…
1. In Vend App, navigate to Set up and then click Apps
2. Now, click Add to Vend, next to QuickBooks Online, if you are not logged in then you will be prompted to log in
3. Thereafter, do click Authorize, to confirm that your QuickBooks Online Account is properly linked to your Vend account.
4. Subsequently, you will be taken to QuickBooks Online setting page in Vend App.
5. Now, do select the QuickBooks Online product you would like to send your daily sales totals to. By breaking daily sales by product type, this account will be able to receive sales for product with no type mapping.
6. Users should select the QuickBooks Online account they would like to send any discrepancies in their end of day count.
7. Users should select the QuickBooks Online account they would like to send any rounding differences to and Vend app will include a rounding line to make sure that the total of the register closure invoice gets matched to the total of the payments taken. In some cases where calculated sales total in invoice differs, a rounding line will be used
8. If users desire discounts to be mapped in different items in their QuickBooks Online account then they should select it from drop-down menu or else leave it blank.
9. If users desire to use product type reporting then they should tick the checkbox and then match each product type with a corresponding product or service in their QuickBooks Online account.
10. If users desire to send expense information to their QuickBooks Online account then they should leave these blank, if they don’t want to record COGS information. Users are advised to select both a Cost of Goods Sold and Inventory asset account and your purchase orders will be sent to the account you select for Inventory assets.
11. If users are using Store Credit then they should select a store credit expense and liability from drop-down options in the Liabilities section.
12. If users are using Gift cards then they should select a gift card revenue and liability account from the drop-down options in the Liabilities section.
13. For each payment type, users should pick the matching type in their QuickBooks Online account.
14. Thereafter, for each tax type, users should pick the matching type in QuickBooks Online. Similarly, the Grouped taxes in Vend app should be mapped to a grouped tax in user’s QuickBooks Online Account.
15. Finally, users should click Save to turn on the integration to compete the integration set up between QuickBooks Online and Vend apps.
16. Now You Are Done with Syncing QuickBooks and Vend