Optional Modules > QuickBooks Connector > QuickBooks Desktop | Perparing Accounts and Items For QB Desktop

Perparing Accounts and Items For QB Desktop

DesignSmart will require specific accounts and items be created. If you are comfortable enough with QuickBooks to create these yourself, please do so prior to the first QuickBooks Connector training call.

 

Required Accounts

Client Merchandise Deposits Account

If your firm does not charge a 100% client deposit, then you will probably be collecting a client deposit in advance of ordering materials. This will most likely require an "Other Current Liability" account in which to record the deposit.

If your QuickBooks file already has such an account for merchandise, please record the name of it and have it available during the training call.

If your QB file does not have such an account then please do the following:

Action: Go to Accounts and create an Other Current Liability account. Name it Client Merchandise Deposits

 

Client Services Deposits Account

If your firm receives a retainer, or a payment in advance for services to be provided, then this will most likely require an "Other Current Liability" account in which to record the deposit.

If your QuickBooks file already has such an account for retainers, please record the name of it and have it available during the training call.

If your QB file does not have such an account then please do the following:

 Action: Go to Accounts and create an Other Current Liability account. Name it Client Services Deposits

 

Pass through Payment Account

If your firm needs either a Client Merchandise Deposits or a Client Services Deposits account, then please do the following:

Action: Go to Accounts and create an Other Current Asset account. Name it Payment by Client Deposit

 


Required Items

Client Deposit Applied

If your firm will need the Client Merchandise Deposits or the Client Service Deposits Accountk then create the the following Item;

Item Type: Payment

Item Name: Client Deposit Applied

Account: Payment By Client Deposit

 

Merchandise Deposits

If your firm will need  a Client Deposit Account, then create the following item:

Item Type: Other Charge

Item Name: Merchandise Deposits

Tax Status: Non

Account: Client Merchandise Deposits

 

Services Deposits

If your firm will need a Services Deposit Account, then create the following item:

Item Type: Other Charge

Item Name: Services Deposits

Tax Status: Non

Account: Client Services Deposits

 

Adjustments

On rare occasions it might be necessary for DesignSmart to send to QB an adjustment so that the proposal or invoice it creates with several items combined into one price will match the proposal or invoice that is sent to QB with each individual line. Please create the following:

Item Type: Other Charge

Item Name: Adjustments

Tax Status: Non

Account: (some miscellaneous account that you might already have)

 

Markup Non Taxable

Very few firms will need this, but please create the following item:

Item Type: Other Charge

Item Name: Markup Non Taxable

Tax Status: Non

Account: (some miscellaneous income account that you might already have)

 

Markup Taxable

If a subcharge, like freight, is non taxable but the markup on freight is taxable then we will need an item to assign to the markup amount.

Item Type: Other Charge

Item Name: Markup Taxable

Tax Status: Tax

Account: (some miscellaneous income account that you might already have)

 


Miscellaneous Details

DS Deposit

 Go to Lists > Customer & Vendor Profile Lists > Payment Method List

         Add a payment method DS Deposit and assign payment type Check

 

Best Way

 Go to Lists > Customer & Vendor Profile Lists > Ship Via List

         Add a shipping method Best Way

 

 



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