QuickBooks POS solutions is recommended by most small and medium retail stores. While working in your “QuickBooks POS receive vouchers”.
These vouchers in your POS are generally used to update the Average Unit Cost, Order Cost, and On-Hand Quantity of items that are received but are not present in your purchase order. As, you know that receiving vouchers mostly depends on how you can integrate your QuickBooks POS with your GL accounting software like QuickBooks Pro, Premier, or Enterprise solutions.
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POS has some internal settings which determine where you should enter your vendor billing information i.e. POS or QuickBooks. By default, POS is configured in such a way that you will have to enter vendor billing info in your QuickBooks software rather than your POS. It means the Enter vendor billing information box in your POS is unchecked.
Enter your Voucher details within your POS Account
This will help you to debit your asset account which is created in your QuickBooks ledger. The other accounts associated will be affected though it depends on the preference setting for entering vendor billing info for POS. The values which you will enter on the New Receiving window as the preference box is checked.
- If your “Enter vendor billing info in POS” is not checked then your Point of sale program is going to credit your AP account.
- This will increase your vendor balance and which will go beyond your actual voucher amount.
- If the Enter vendor billing information in your Point of Sale preference box is checked then your POS is going to make billing information accordingly and the data will be entered in the Point of Sale.
- If billing info is not entered then POS will credit the Unbilled Purchases liability account. This vendor won’t be charged.
- If the Already Paid checkbox is checked then POS is going to send the voucher to QuickBooks as an item receipt.
- POS credits AP and increases the vendor balance by the amount of the receiving voucher.
- It presumes that the payment has already been made and recorded in QuickBooks solutions, which is why the receiving voucher is Already Paid.
- If you are using the QuickBooks solution but working on POS for the first them then, you will have to get your retail assets accurate.
- As you turn on that preference in POS, you can’t manage retail inventory in QuickBooks.
- Any changes you make in the inventory of POS will affect your vendors and AP in QuickBooks.
- Even if you record a transaction in POS with similar preferences while it is turned off and you turn it on later, those entries will be reciprocated with your QB solutions.
- It will modify vendor balances and AP in QuickBooks.
In case, you are not using QuickBooks then you will Enter your Receipts in your POS
- You also have an option to change this preference.
- Take a screenshot from the Edit menu > Preferences > Company Window.
- Check whether this preference is checked or not, if the vendor billing option is not visible then it will not appear in your voucher forms.
- So, open the New Receiving Voucher window.
- Go to enter vendor billing info in Point of Sale and see whether the box is checked or not.
- If it is checked then you can easily enter billing information in your POS.
Now check whether your QuickBooks Point of Sale is integrated with your QuickBooks software or not. Your inventory is not synchronized when you try to run QuickBooks with POS. You will have to synchronize them in order to manage your inventory so that you can manage and pay your vendors.
The steps mentioned above will help you with the vouchers that you have received in your QuickBooks Point of Sale. These steps are especially recommended by QuickBooks point of sale Consultant who are Intuit certified. For more information about the product, please contact AskForAccounting.
They are one of the finest QuickBooks consultancy firms that provide assistance to QB users worldwide. To connect with them, you have to call on their 24*7 QuickBooks Consultant toll-free number. You can also visit their website and request Online Chat Consultant. The QuickBooks experts will get in touch with you instantly.