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Optional Modules > QuickBooks Connector > QuickBooks Online | Preparing Accounts and Products Preparing Accounts and Products |
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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 AccountsClient 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
Required ProductsMerchandise Deposits If your firm will need a Client Deposit Account, then create the following item: Product Type: Non Inventory Product Name: Merchandise Deposits Tax Status: Non Account: Client Merchandise Deposits
Services Deposits If your firm will needs a Services Deposit Account, then create the following item: Product Type: Non Inventory Product 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: Product Type: Non Inventory Product 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: Product Type: Non Inventory Product 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. Product Type: Non Inventory Product Name: Markup Taxable Tax Status: Tax Account: (some miscellaneous income account that you might already have)
Miscellaneous DetailsDS Deposit Go to AllLists > Payment Types Add a payment method DS Deposit and assign payment type Check
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