Financial Exchange Overview

How do I? | Customize Exchanges | Reports | FAQs

Point of Sale can be integrated with QuickBooks Desktop Pro, Premier, and Enterprise Solutions. Integration and exchange of data with QuickBooks Desktop, while providing many benefits, is not required.

Point of Sale tracks your daily point-of-sale business: purchasing, receiving, and selling merchandise, and tracking inventory and customers. QuickBooks Desktop financial software helps you pay bills, manage cash flow, invoice customers, and run financial reports.

Exchanging information between the two programs, called Financial Exchange, can be done at any time (typically as part of your End of Day procedure) and can significantly reduce your workload because you can conduct your inventory and sales activities in Point of Sale, then transfer the resulting data directly to your financial software. Theres no need to enter information twice!

Several options are available for you to customize how your Point of Sale data is transferred to QuickBooks Desktop so that it works for your business model and how you like to have your retail activities reported.

Financial Exchange allows you to get the most from the specialized features of each program by splitting key business activities between them as shown below (this is not an all-inclusive list of the features in either program):

Activity | POS | QBFS
Add/track inventory | X |
Order and receive merchandise | X |
Make sales and collect sales tax | X |
Run sales and merchandise reports | X |
Add customers or vendors* | X | X
Enter vendor billing info (invoices)** | X | X
Track cost of goods and expenses |  | X
Pay bills and sales taxes |  | X
Invoice customers |  | X
Process payroll |  | X
Run financial reports |  | X
Banking activities |  | X

POS = Point of Sale QBFS = QuickBooks Desktop financial software

* Recommend doing in Point of Sale

** Preference option; controls how receiving information is shared

Related Topics

What data is shared?

Requirements of Financial Exchange

How QuickBooks Desktop handles POS data

Default chart of accounts & mappings

Security rights for Financial Exchange