2010 user conference
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2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
2010 User Conference
QuickBooks Integration/Overview
Roxanne Brown, CQAProfessional Business Solutions 4U, LLC
www.qb4yahoostores.com
rjjjbrown@aol.com
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Stone Edge Order Manager & QuickBooks Overview
Why do you need 2 programs?
What information remains in QuickBooks?
What does SEOM track?
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Do You Really Need Two Programs?Yes
No one program can do everything – however two programs as powerful as SEOM & QuickBooks compliment each other very well
SEOM will now handle everything related to your products & customers
QuickBooks will manage the overall financial side of your business – Your overhead type processes, such as Payroll, A/P, etc.
Let each program do what it does best; your business will benefit.
Do you really want everyone to have access to your financial data?
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
What is Exported to QuickBooks?
Sales are exported as General Journal Entries
Deposits are exported as Deposit Entries eitherSummary - By Type, By DayIndividually
Receiving is exported as General Journal Entries
Invoicing will be exported as billing entries – allowing you to use Accounts Payable within QuickBooks to pay your bills easily.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Sales (As a Journal Entry)
Sales are exported as a General Journal Entry per day.
The entry can be summarized by Day & Account, or one long journal entry with each line item (not recommended long-term).
Included in the export of Sales data will be Product Sales, Sales Tax, Shipping Income, Discounts & Coupons, Returns & Allowances, Surcharges/Other Charges, Inventory, Received & Dropped, & Cost of Goods Sold.
You can use more then one Sales Account – provided you are using Inventory Categories in SEOM.
NOTE: Sales data for UNAPPROVED orders are NOT exported until they are approved!
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Deposit Data
Deposit data can be exported in Summary or Detail
Summary Deposits are recorded in QuickBooks by Day, by Type
DetailDeposits are recorded in QuickBooks individually
Note: If you download your banking data, you will NOT want to utilize this feature. Instead, de-select this as an option and code your downloaded deposits to the Accounts Receivable – SEOM account.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Receiving Data
If using this feature in SEOM, Purchase Orders would be generated and received against in SEOM, NOT in QuickBooks. If you created a PO in SEOM, when you receive product, receive it against the Purchase Orders in SEOM.
The next time you export to QuickBooks, you will see a Journal Entry that increases an account called “Received and Dropped Not Paid.” This is an Other Current Liability account within QuickBooks and is specific to using SEOM.
Example: Inventory product was received; the Inventory Asset account will be increased (because you now have possession of the product) and Received and Dropped not Paid will be increased (because you have a liability to pay for it).
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Vendor Invoices
When you receive invoices (bills) from your suppliers, enter them into SEOM against your open Purchase Orders – Not QBs. Each invoice can cover all, part, of one or more PO’s and will be imported into QBs in the form of a Bill so you can manage your Accounts Payable easily. This works for both inventory and drop-ship orders.
You can account for additional charges, discounts, or price changes within SEOM when you enter the vendor invoice, this information will be included in the export to QuickBooks.
At this time, Vendor Credits are managed in QuickBooks.
NOTE: Any additional charges incurred after the PO is locked down in SEOM must be accounted for within QuickBooks.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Sales Tax
Sales Tax collected is included in the Sales export Journal Entry.
Sales Tax collected will appear in the Sales Tax Liability – SEOM account in QB’s and can be cross-checked with the Sales Tax Payable report from SEOM, along with the Accounting Summary – NEW report pulled for the particular timeframe. You can also generate a ‘Quick Report’ from QuickBooks for the same timeframe.
A check is written from QuickBooks and coded to the same liability account.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
What Should be Considered
Before Integration?
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Before your ‘Go Live’ Date …
Your QuickBooks data file should be free of data corruption – It may make sense to start a New file
Basic computer maintenance is a must to ensure the stability of QuickBooks and SEOM
Special Accounts will be needed for StoneEdge to work properly
QuickBooks will now be used differently for customers & inventory/products
It is important to learn the correct procedures for day-to-day operations; otherwise your accounting data will be a mess.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Before your ‘Go Live’ Date …
Use 15-20 minutes of your Express Set-up with SEOM to explain your business model so they can configure the System Parameters properly.
Tip: Use a checklist and be ready for your appointment.
Consider which Export Settings to QB’s will be right for your business – Sales, Deposits, Receiving, & Invoicing all have some flexibility.
Would importing data from QB’s or your Cart help, or hurt?
Have a Plan! Don’t Rush going ‘Live’ and be sure to ask questions and read the Forum. Make a COPY of the SEOM database and your QuickBooks data file for testing. Experiment with different settings, learn the basics of using SEOM properly, and train your employees consistently.
Consider using some of the various resources* that are available; it can save a lot of time and money!
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Now That You Have a
Plan – What’s Next?
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Create New Accounts in QuickBooks
Sales Tax – SEOM – Type is Other Current Liability
Received & Dropped Not Paid – Type is Other Current Liability
Accounts Receivable - SEOM – Type is Other Current Asset
Inventory Asset - SEOM – Type is Other Current Asset
Misc. Order Debit - SEOM – Type is Other Current Asset
Misc. Order Credit - SEOM - Type is Other Current Asset
Rounding - SEOM – Type is Expense Account
Coupons & Discounts - SEOM – Type can be Income OR Expense
Returns & Allowances - SEOM – Type is Income (acts as Contra)
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Create New Accounts in QuickBooks
Bank Accounts for Payment Items as Needed Tip: Consider using holding accounts
SEOM Clearing – Type is Bank Account – While this is not needed, it is highly recommended. Transactions that do not have a specific payment type will be posted here, making it easy to track and re-code.
Gift Certificates Liability - SEOM* – Type is Other Current Liability
Note: If using Inventory Categories, create the appropriate Sales (Income) accounts.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Inventory
Verify each SKU has a Primary Supplier & Cost
Is FIFO Initialized?
Verify Inventory QOH is correct – Now is the perfect time to do a physical count
Consider using Inventory Categories
Decide if Purchasing and Invoicing will be performed in SEOM or QuickBooks – This can be phased in when proper procedures can be established.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
QuickBooks Accounting ExportDecide what data will be exported based on your setup
Select your Starting Date
Preview, Preview, Preview before you import. Back-up, Back-up, Back-up …. Did I say Back-up Review a few days worth of data before you import the entire year
If your Accounts in QuickBooks changes – You MUST re-sync the two databases
NOTE: If you receive Error Messages – Do NOT Ignore Them!!! Write them down, take a screenshot, make notes, and follow through. They must be fixed before the data will export.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
QuickBooks/SEOM Accounting Tips
A/R will typically fluctuate up/down because of timing issues – this is normal, however you must track and verify.
Inventory Adjustments are NOT exported to QuickBooks at this time; this is something that will require a manual adjustment in QB’s.
If a Vendor name in SEOM does not match the name entered into QuickBooks, a ‘new’ vendor will be created upon import. Simply merge the vendor records in QuickBooks.
Consider not Summarizing the Sales Data journal entry for the first month, get to know what is coming over to QuickBooks and why. However, it is recommended this setting be changed to summary after a few weeks.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
QuickBooks/SEOM Accounting Tips
It is NOT recommended to try to ‘fix’ data in the tables directly.
Custom Reports may be necessary; especially if you handle pre-pays, terms, gift certificates, etc. All the information is in the Order Manager, and the proper reports can really aid the accounting process . Consider the Communiqué Reporting Tool.
Do not rush going live. Test, Test, Test & Test. Train your employees consistently –the biggest problems come from inconsistency, lack of employee training, general procedures not followed correctly, or System Parameters not properly set.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
QuickBooks/SEOM End of Month
Tip: Create a folder on your server/computer for ‘SEOM Accounting Reports.’ The first day of each month – BEFORE new orders are processed, Print reports to PDF and save.
Run your ReportsReview & Verify your Accounts ReceivableReview & Adjust your Inventory Asset account in QB’s as neededReconcile all cash & credit card accountsReview Received & Dropped Not Paid accountMake sure your back-ups are being made and not corrupt
Note: SEOM cannot go ‘back in time’ to calculate your Inventory On-Hand & Value, Aged Receivables, or some other time sensitive and valuable information.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Recommended Resources
Steve Cisick, Technology Co-Pilot, LLC
Contact Info: steve@technologycopilot.com
http://www.technologycopilot.com/stoneedge
480-704-4139
Tom Martin, Altaireon, Inc. (Communiqué)
Contact Info: tjm@altaireon.com http://www.altaireon.com
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Recommended Resources
Contact Info: mharris@emerchant.com 866-979-0260
Matthew Grattan, Avalara
Contact info: matthew.grattan@avalara.com
206-826-4900 x1138
Marlon Harris, eMerchant Discount
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Recommended Resources
Visit the Forum!
http://www.stoneedge.net/forum
SEOM Library of Training Videos:http://www.screencast.com/users/StoneEdge/folders/Training+Videos
Make sure to check out the ‘End of Year Procedures’ Training Video!
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
QuickBooks & SEOM
Questions?
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Quick Look at a Few ReportsQUESTION:Why can’t I get the accounting summary report to say the same thing as the sales summary report and the sales tax report and the daily audit, etc.?
No one can truly agree on how they want to see the numbers - what date actually constitutes the “sale”
Many of these reports are not designed to agree with each other
Each report is designed to give different views into sales and income
Each report is focused on different dates, filters, and in many cases several dates
In the eCommerce world, Sales and Deposits seldom balance for a specific time period for various reasons.
Because…Kevin Say’s So
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Accounting Summary- New
This data is passed over to QuickBooks
Based on Order “History” - a single Date is used
Only approved order information is passed to QuickBooks
Initial History is generated at the time the order is approved
Additional history will be written/recorded when changes are made
Report results should NOT change over time
NOTE: The act of ‘approving the order’ IS the trigger for sales history to be written/recorded
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Sales Tax from History
Pulls data from Sales History
Based on a single date
Data does not change over time
Does not give detailed breakdown
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Aged Receivables ReportPrint to PDF and Save at the end of the month along with your other time sensitive reports.
Is not a ‘true’ A/R report – this reports shows ALL orders, regardless of their status, with an amount due.
It usually will NOT match what is in QuickBooks; this is a cumulative number and other factors impact this figure. It can, and should, be verified on a regular basis!
TIP: You cannot pull this with an ‘as of’ date to see your receivables – so it’s important to print to PDF and save each month.
Consider using the Open Receivables Report from Communiqué or a custom report is you deal with a lot of receivable’s or any unique circumstances.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Charges & Credits
Print to PDF and Save at the end of the month along with your other time sensitive reports.
Review & Verify the report on a regular basis.
TIP: You cannot pull this with an ‘as of’ date – so it’s important to print to PDF and save each month.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Inventory Value - NEW
Print to PDF and Save at the end of the month along with your other time sensitive reports.
This is the ONLY report that shows inventory value now.
Review on a regular basis. Implement inventory counts, or at least a rolling count. Do an entire count and make adjustments at the EOY.
Inventory Adjustments do NOT pass over to QuickBooks at this time. A manual JE must be entered in QB’s.
TIP: You cannot pull this with an ‘as of’ date to see your inventory for a given timeframe – so it’s important to print to PDF and save each month.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
Additional Recommend Reports As Needed
Money Received Against Unapproved Orders (impacts your A/R)
PO’s missing Vendor Invoices (impacts your Received & Dropped)
Drop Ships Missing Ship Dates (impacts your COGS)
Zero Dollar Orders (if you want to reclassify)
A good A/R Report (especially if you deal with terms, pre orders, etc.)
Approved Orders with No Sales History
Any other Custom Reports, from whatever source you use, that are time sensitive.
Any Report that cannot be generated with an ‘as of’ date should be printed to PDF and saved on a monthly basis.
2010 User ConferenceApril 23rd – 25th, Philadelphia, PA
QuickBooks & SEOMQuestions?
Contact Information:
Roxanne Brown
rjjjbrown@aol.com
301-582-2857
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