| Area | Transaction type | Item type | How translated into QuickBooks transaction | Debit | Credit | Note |
|---|---|---|---|---|---|---|
|
Inventory |
Adjustment (increase in inventory) | Inventory, Assembly | Journal entry | Asset account | Adjustment account |
Increases asset account.
Decreases adjustment account (typically inventory shrinkage). |
| Inventory | Adjustment (decrease in inventory) | Inventory, Assembly | Journal entry | Adjustment account | Asset account |
Decreases asset account.
Increases adjustment account (typically inventory shrinkage). |
| Inventory | Transfer | Any | No effect | No effect on accounts. | ||
|
Purchasing |
Purchase order (PO) | Any | Purchase order | No affect on accounts. However, an item with COGS or Expense account in SOS Inventory can cause PO to be rejected by QuickBooks Online. | ||
|
Purchasing |
Item receipt (when Bill selected) | Inventory, Assembly | Bill | Asset account | Accounts payable (AP) |
Increases asset account assigned to item.
Increases AP. |
| Purchasing | Item receipt (when Bill selected) | Any except Inventory or Assembly | Bill | Expense account | AP |
Increases expense account assigned to item.
Increases AP (includes other costs where Bill is selected). |
| Purchasing | Item receipt (when Cash, Check, or Credit card selected) | Inventory, Assembly | Purchase expense entry | Asset account | Default cash/checking/credit account |
Increases asset account assigned to item.
Decreases default cash/checking account or increases default credit account (set on Inventory settings page in SOS Inventory). |
| Purchasing | Item receipt (when Cash, Check, or Credit card selected) | Any except Inventory or Assembly | Purchase expense entry | Expense account | Default Cash/Check/Credit account |
Increases Expense account assigned to item.
Decreases default cash/checking account or increases default credit account (set on Inventory settings page in SOS Inventory). |
| Purchasing | Item receipt (when None selected) | Any | No effect on QuickBooks Online. | |||
|
Purchasing |
Payment in QuickBooks | Bill payment | AP | Payment account |
Decreases AP.
Decreases account selected as Payment account on transaction. |
|
| Purchasing | Return to vendor (RTV), with no Vendor Credit | Inventory, Assembly | Journal entry | Account selected | Asset account |
Decreases asset account assigned to item.
Increases account selected on the RTV by the valuation-method-calculated value of item. |
| Purchasing | Return to vendor (RTV), with Vendor Credit | Inventory, Assembly | Vendor Credit Memo | AP | Asset account |
Decreases asset account assigned to item.
Decreases AP by the valuation-method-calculated value of item. |
| Purchasing | Return to vendor (RTV), with no Vendor Credit | Any except Inventory or Assembly | Journal entry | Account selected | Expense account |
Decreases expense account assigned to item.
Increases in account selected on the RTV by the standard purchase cost, multiplied by the quantity of item. |
| Purchasing | Return to vendor (RTV), with Vendor Credit | Any except Inventory or Assembly | Vendor Credit Memo | AP | Expense account |
Decreases expense account assigned to item.
Decreases AP by the standard purchase cost, multiplied by the quantity of item. |
| Sales | Estimate | Any | Estimate | No effect on accounts. | ||
| Sales | Sales order | Any | No effect | No effect on accounts. | ||
| Sales | Sales receipt | Any | Sales receipt | Income account of item | Deposit account on sales receipt |
Increases income account assigned to item.
Increases deposit account on sales receipt. |
| Sales | Invoice (item) | Any | Invoice | Income account of item | Accounts receivable (AR) |
Increases income account assigned to item.
Increases AR. |
| Sales | Invoice (discount) | Invoice | AR | Discount account |
Decreases AR.
Increases Discount account set in QuickBooks Online account and Settings. |
|
| Sales | Invoice (shipping) | Invoice | Shipping account | AR |
Increases AR.
Increases Shipping account set in QuickBooks Online account and Settings. |
|
| Sales | Invoice (deposit) | Invoice | AR | Undeposited Funds |
Decreases AR.
Increases Undeposited Funds (SOS Inventory sets all deposits on invoices to effect Undeposited Funds) |
|
| Sales | Payment (applied to invoice) | Invoice payment | AR | Deposit account |
Decreases AR.
Increases "Deposit to" account selected on payment. |
|
| Sales | Payment (done with sales receipt) | None | The sales receipt is the record of payment. | |||
| Sales | Payment (done as sales order deposit) | Journal entry | Deposit asset account | Deposit liability account |
Increases Default deposit asset account.
Increases Default Deposit Liability account, both set in Sales Settings page. |
|
| Sales | Return (no credit memo selected) | Inventory, Assembly | Journal entry | Asset account | COGS account |
Increases asset account of returned item.
Decreases COGS account of returned item by restock value assigned. |
| Sales | Return (credit memo selected) | Inventory, Assembly | Journal entry | Asset account | COGS account |
Increases asset account of returned item.
Decreases COGS account of returned item by restock value assigned. |
| Sales | Return (credit memo selected) | Inventory, Assembly | Credit memo | AR | Income account |
Decreases income account of returned item.
Decreases AR by the credit amount entered on return. |
| Sales | Return (no credit memo selected) | Any except Inventory or Assembly | No effect | |||
| Sales | Return (credit memo selected) | Any except Inventory or Assembly | Credit memo | AR | Income account |
Decreases income account of returned item.
Decreases AR by the credit amount entered on return. |
| Sales | Return merchandise authorization (RMA) | No effect | ||||
| Fulfillment | Shipment | Inventory, Assembly | Journal entry | COGS account | Asset account |
Increases COGS account assigned to item.
Decreases asset account assigned to item by value of shipped item. |
| Fulfillment | Shipment | Any except Inventory or Assembly | No effect | |||
| Fulfillment | Pick ticket | Any | No effect | |||
| Production | Build (Input Inventory or Assembly) | (Output) Inventory, (Output) Assembly | Journal entry | Asset account of output | Asset account of input |
Increases asset account of output.
Decreases asset account of input by standard purchase cost of input, multiplied by quantity of input. |
| Production | Build (any input except Inventory or Assembly) | (Output) Inventory, (Output) Assembly | Journal entry | Asset account of output | Expense account of input |
Increases asset account of output.
Decreases expense account of input by standard purchase cost of input, multiplied by quantity of input. |
| Production | Process transaction (input Inventory or input Assembly) | (Output) Inventory, (Output) Assembly | Journal entry | Asset account of output | Asset account of input |
Increases asset account of ouput(s).
Decreases asset account of input by value of input. |
| Production | Process transaction (any input except Inventory or Assembly) | (Output) Inventory, (Output) Assembly | Journal entry | Asset account of output | Expense account of input |
Increases asset account of output.
Decreases expense account of input by standard purchase cost of input, multiplied by quantity of input. |
| Production | Job | No effect | ||||
| Production | Work order | No effect | ||||
| Rentals | Rental | No effect | ||||
| Rentals | Rental return | No effect |