QuickBooks Export FAQ

Listed below are answers to some of our most frequently asked questions about InvenTrakk's Quickbooks Export capability.

Q:
Do I have to install Quickbooks on every computer on which InvenTrakk is installed?

A:
Not at all. You can install Quickbooks on a single system if you like. Make sure InvenTrakk is installed on this system as well and use this system to send your InvenTrakk data to Quickbooks each day. Any InvenTrakk system can be used (server or workstation) as long as you have Quickbooks and InvenTrakk installed on that system. As an example, you may be running 4 InvenTrakk computers. 1 system is the server and 3 are workstations. The workstation in the back office may be the system you wish to use to do your exporting. Simply install InvenTrakk and Quickbooks on that system and you will be able to export all data to Quickbooks each day using that computer.

Q:
Can I control to what accounts InvenTrakk send my data.

A:
Yes you can. Inside of InvenTrakk each inventory item and service item is assigned a category. When you configure your Quickbooks export settings you are asked to map these categories to the appropriate Quickbooks Accounts. You can select any accounts you wish.

Q: When I am mapping my InvenTrakk categories to Quickbooks accounts can I create a new Quickbooks Account from within InvenTrakk?

A:
Yes you can. When you are setting up your account mapping you may wish to have a new Revenue, Asset or COGS account in Quickbooks. You can create this account in Quickbooks from within InvenTrakk if you wish to do so. This is the exact same thing as creating a new account from within Quickbooks itself.

Q:
What happens if I miss a day or two because I am on vacation or sick and forget to export data to Quickbooks?

A:
Even though it is recommended that you send your data to Quickbooks daily so that you can review the full details of each days export, QuickTrakk will allow you to send your data to Quickbooks for any date range you wish. You can send 2, 3, 5, 10 or even 30 days worth of financial data to Quickbooks at a time. QuickTrakk keeps track of what data has been exported so that the same data is never exported twice.

Q:
What data is sent to Quickbooks from InvenTrakk? Are customers, inventory items and invoices created inside of my Quickbooks system?

A:
InvenTrakk sends financial data to Quickbooks by creating Accounting Journal Entries directly against Quickbooks accounts and therefore there are no customers, invoices or inventory items created inside of Quickbooks during an export. All customers, invoices and inventory items are available inside of InvenTrakk in full detail anytime you need to review them. Just like Quickbooks, InvenTrakk will create 1 journal entry for each type of transaction. As an example, if you create 1 invoice in inventrakk and add 2 payments to it, a total of three journal entries will be created in Quickbooks.

Q: If I create new categories in InvenTrakk or add new accounts to Quickbooks after my initial setup will it mess up my Quickbooks export?

A:
No not at all. Before each export QuickTrakk verifies that each InvenTrakk category is mapped to valid Quickbooks accounts. If anything is not mapped correctly a message will be displayed to you when you try to perform an export and you will not be able to export data to Quickbooks until the issue is resolved.

Q:
Can I send data to multiple Quickbooks company files ? Can I switch Quickbooks Company Files?

A:
InvenTrakk will only send data to 1 Quickbooks company file at a time. If you need to switch company files for any reason you can do so. When you switch company files, InvenTrakk will make you reconfigure your Export Settings for the new company file before it will allow you to export data. Because of this, switching back and forth between company files constantly is not recommended but switching once in a great while if you need to do so should not be an issue.

Q: Can I rollback data sent to Quickbooks?

A:
Yes, InvenTrakk keeps a full history of every data export that you send to Quickbooks. If you need to rollback a daily export you can do so. InvenTrakk will simply delete every journal entry in the export you are rolling back.

Q:
Does InvenTrakk ever automatically create accounts in my Quickbooks system?

A:
Only in one scenario. if you are connected to a brand new Quickbooks company file that has never had any invoices generated within it, a valid Accounts Receivable and Undeposited Funds account will not exist in Quickbooks.

Quickbooks only creates these accounts after the very first invoice is created. InvenTrakk needs these accounts so if they do not yet exist, it will create them for you. In addition, InvenTrakk will also check for a cost of goods sold account called Cost of Goods Sold and a Store Credit Liability account called StoreCredits. If these accounts are not found, it will add them for you. These accounts are the only accounts that InvenTrakk will auto-generate in Quickbooks.

Q:
What kind of validation does InvenTrakk perform prior to every export to Quickbooks?

A:
InvenTrakk performs 7 Validation Steps to ensure your system is configured properly prior to transmitting data to Quickbooks.

1. 1) checks that each inventory category exists in the InvenTrakk account mapping table
2. 2) checks that each inventory category is mapped to a valid Revenue, Asset and COGS Account
3. 3) checks that every service is attached to a revenue account
4. 4) checks that an A/R and Cash account are selected
5. 5) checks that each tax code exists in the account mapping table
6. 6) checks that each tax code is mapped to a valid sales tax payable account
7. 7) makes sure that every account that is mapped actually exists in the Quickbooks company file

Q:
Do I need to run a specific version of Quickbooks to use the InvenTrakk Quickbooks export?

A:
The InvenTrakk Quickbooks export works with Quickbooks 2007 or higher.

Q:
Exactly what financial data is sent to Quickbooks in an export?

A:
At this time, InvenTrakk will create journal entries in Quickbooks for all of the following financial transactions
1) Invoices
2) Payments
3) Deposits
4) Store Credits
5) Payment Refunds
6) Deposit Refunds
7) Store Credit Refunds