V9 - Sales transaction interaction

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The information listed below explains how SOS Inventory and QuickBooks Online interact with regard to sales transactions:

 

• An estimate, sales receipt, or invoice created in SOS Inventory will create a matching transaction in QuickBooks and vice versa. However, an estimate does not affect quantity or value in QuickBooks.
   
• When using SOS Inventory to track your inventory, all items should be set up as Non-inventory or Service item types in QuickBooks. As such, sales receipts and invoices will increase the income account(s) of the item(s) on the sale and increase Accounts Receivable. The asset account(s) and COGS account(s) are not affected by these sales transactions.
   
• A sales order created in SOS Inventory will not produce a transaction in QuickBooks. Sales orders do not affect inventory quantities or values in SOS Inventory or any accounts in QuickBooks. Even though QuickBooks now has sales orders, SOS sales orders do not connect with those in QuickBooks because they function differently.
   
• A pick ticket created in SOS Inventory does not post a transaction in QuickBooks. It is only a warehouse document.
   
• A shipment created in SOS Inventory takes items out of inventory. This transaction will create a journal entry in QuickBooks to reduce the asset account(s) and increase the COGS account(s) of the item(s) on the shipment.
   
  edit_noteNOTE: If the journal entry reflecting the shipment is edited or deleted in QuickBooks, this will not affect the shipment transaction in SOS Inventory. However, it will cause a mismatch in the value of the accounts when reconciled.
• An RMA created in SOS Inventory does not post a transaction in QuickBooks.
   
• A return created in SOS Inventory brings items back into inventory. The value of the returned items is established by the restock value entered on the return. This transaction will create a journal entry in QuickBooks that increases the asset account(s) and decreases the COGS account(s) by the listed restock value of the item(s) on the return. If the Create credit memo option is selected, SOS Inventory will also create a credit memo in QuickBooks to the customer for the amount of credit specified on the return.
   
  edit_noteNOTE: If the journal entry reflecting the return is edited or deleted in QuickBooks, this will not affect the return transaction in SOS Inventory. However, this will create a mismatch within the account when reconciled.
  edit_noteNOTE: Adding a credit memo in QuickBooks will not create a return in SOS Inventory.