Configure Quickbooks 2005 Pro or later with The Profit System

6021 Sandy Springs Circle, Atlanta, GA 30328
Voice: 800.587.7277
Fax: 770.234.4223
Email: [email protected]
www.bblsystems.com
Configure Quickbooks 2005 Pro or later with The Profit System
The Profit System and Quickbooks Pro must be installed on the same computer. Quickbooks
must be version 2005 or later, and must be the Pro version.
The Profit System will export revenue report totals and invoices to Quickbooks.
NOTE: Setting up the integration requires access to information in the Vendor, Inventory
Category and Accounting Classes screens within The Profit System. Therefore, before
setting up the integration, your Vendors, Inventory Categories and Accounting Classes
must be setup FIRST. Refer to the InfoDisc video (Adding Retail Inventory) or the built-in
Help for information.
Set Up the Quickbooks/Profit System Connection
1. Download and run the QBFC on the computer where the Profit System and Quickbooks
are both installed. The QBFC can be downloaded from the BBL Systems web site at
http://www.bblsystems.com/qbfc.htm
2. Start Quickbooks and open the correct company.
3. Start The Profit System and go to Main->Housekeeping->Accounting Setup. Go to the
WinPOS Accounts/Settings tab.
4. Under Accounting Integration, select Quickbooks 2005 for the Program.
5. For QB file, click the ... button and select the Quickbooks company file, which is normally
located inC:\Program Files\Intuit\Quickbooks.
6. Click Save, then exit from the Profit System and restart it.
Configure the Profit System accounts
1. Go to Main->Housekeeping->Accounting Setup->Accounting Setup. Go to the the Profit
System Accounts/Settings tab.
2. Click the lookup button next to Shipping. Select the account in Quickbooks that should
be used to post shipping charges billed from vendors to the shop for orders.
3. Click the lookup button next to Purchase. Select the account in Quickbooks that should
be used to post the cost of orders shipped from vendors to the shop.
4. Click the lookup button next to Revenue Report out of Balance. Select the account in
Quickbooks that should be used to post a balancing transaction to Quickbooks in the
situation where the Revenue Report is out of balance, but you choose to export
transactions anyway. Normally, you will want to fix any problems with the revenue report
before exporting.
5. Go to Main->Housekeeping->Accounting Setup->Chart of Accounts. For each of the
receipts accounts in use (such as Cash, Checks, etc.) click the lookup button for Export
GL number/name and select the Undeposited funds account in Quickbooks.
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6021 Sandy Springs Circle, Atlanta, GA 30328
Voice: 800.587.7277
Fax: 770.234.4223
Email: [email protected]
www.bblsystems.com
6. For each revenue account in use (such as Bridal sales, Misc Sales, etc.) click the lookup
button for Export GL number/name and select the correct revenue account in
Quickbooks.
7. Use the following table to set up the following accounts.
Profit System
Quickbooks account
account number
Notes
Export purchase
for acct int.
Inventory
Holds the cost of special orders
received from vendors.
Retail Tax 1
Sales Tax Payable
Holds sales tax collected.
Partial Payments
Customer Deposits
On ticket zero, these are partial
payments made on tickets. On cash,
this is the total amount due at sale
time, and is reduced each time a
partial payment is taken.
Unapplied
payments
Customer Deposits
These are overpayment's made by
customers that the shop is retaining, to
be applied toward future sales.
Export cost for
acct int.
Cost of Goods Sold
When revenue is realized on a sale,
this is the cost of the item sold.
Export inventory
for acct int.
Inventory
This balances the Cost of Goods Sold
posting above.
8. Go to Main->Inventory->Vendors. For each vendor, go to the Details tab. Under
Accounting Integration, click the lookup button for Terms and select the correct Terms
from Quickbooks. Then, click the lookup button for Export vendor number and select the
correct vendor from Quickbooks.
9. Go to Main->Housekeeping->Accounting Setup->Revenue Report Setup. Click on each
section number and make sure that the EXPORT INV and EXPORT COST accounts
appear in at least one section. If they do not:
1. Go to Main->Housekeeping->General Setup->System/Store Setup->Options Tab.
2. Check the “Allow editing of WinPOS accounts numbers?” checkbox.
3. Restart the Profit System.
4. Go back to Main->Housekeeping->Accounting Setup->Revenue Report Setup,
and select an empty section.
5. Click on a blank line, and select EXPORT INV.
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6021 Sandy Springs Circle, Atlanta, GA 30328
Voice: 800.587.7277
Fax: 770.234.4223
Email: [email protected]
www.bblsystems.com
6. Click on another blank line and select EXPORT COST.
7. Click Save, then Done.
Exporting Revenue Account totals
Each time the revenue report is run for a single day, the totals will be saved to the glexport file.
This file holds the totals until you choose to export them to Quickbooks. Totals will only be
saved if you run the revenue report for a single day. They will not be saved if it is run for more
than a day at a time.
If you re-run the revenue report for a single day any totals already saved will be discarded and
replaced with the new totals. If the totals have already been exported then they are not
discarded.
1. Go to Main->Register Functions->Revenue Report and run the revenue report for a
single day. Totals are saved to glexport.
2. Go to Main->Houskeeping->Accounting Integration->GL Export Report. Select Unexported transactions and click Ok. The report will show all the transactions to be
exported. Confirm that they are correct.
3. Go to Main->Houskeeping->Accounting Integration->Export AP/GL. Make sure Export x
GL transactions is checked. Click Ok. The Profit System will export the revenue report
totals to Quickbooks.
Exporting Invoices
Each time a purchase order is received the Profit System will prompt for the invoice details.
Most or all of the data will be filled in automatically.
However, if you are issuing stock purchase orders without a store style code, the Purchase and
Shipping export account numbers will not be filled in automatically. You will have to select the
correct Purchase and Shipping account numbers directly on the Invoice form.
1. Go to Main->Houskeeping->Accounting Integration->Invoices Export Report. Select Unexported invoices and click Ok. The report will show all the invoices to be exported.
Confirm that they are correct.
2. Go to Main->Houskeeping->Accounting Integration->Export AP/GL. Make sure Export x
Invoices is checked. Click Ok. The Profit System will export the invoices to Quickbooks.
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