Although SOS and QuickBooks synchronize data, inconsistencies in the source data (due to data entry errors, business changes, intended differences, etc.), will result in inconsistencies in the synchronized data. A reconciliation process helps to ensure that your data is correct in both applications and that you have accounted for any differences (either intentional or unintentional).
The process is similar to balancing your checkbook – simply making sure that everything matches as expected. This document describes in detail the interaction between SOS Inventory and QuickBooks, the tools in SOS Inventory that can be used to reconcile, and some special situations that can affect the reconciliation process.
Before starting a reconciliation, you should understand where errors may occur while using SOS Inventory. Generally, it is user error in entering transactions which cause the majority of the issues. Within the reconciliation process, you will see all possible trouble areas in Understanding where errors may occur in reconciliation.
When starting a reconciliation, it is very important to determine the end date of your reconciliation period. This could be the current date or a past date. Usually, it is the current date. You would then produce reports in both SOS and QuickBooks to compare inventory assets. Your end result should be a balance within both systems. However, you may not be able to get down to the exact penny due to a difference between the two systems. In SOS, currency values are calculated to the fifth decimal place. In QuickBooks, currency values are calculated to the third decimal place. This may cause the value in QuickBooks to be rounded either up or down a penny. We will show you how to account for this difference in Reconciliation tools.
This section of the Help Center will show you how to use the tools included in SOS Inventory to allow you to check for asset balance, find errors between the values of both systems, and use the tools to correct these errors.