QuickBooks Integration: Working with Inventory


Now that you've completed the wizard, the integration will mostly take care of itself. Remember to always have the ESC Accounting Server open and connected. Below you will find more information on how the integration functions and how information is transferred.

Inventory Management
ESC handles the inventory quantity control, while QuickBooks maintains the inventory ledger balances. Thus, ESC tracks the quantity, inflows, and outflows of an individual part, while QuickBooks tracks the movement in value of the inventory asset accounts. When an item is added into ESC, it is not automatically added into QuickBooks.

Inventory Adjustments
An inventory adjustment entered into ESC will create a general journal entry in QuickBooks for the value of the adjustment, increasing the inventory account if parts are added in ESC, and reducing the value of inventory if the quantities are lowered. The Adjust Inventory screen asks for a Credit Account; this is referring to the account that will be used to create the transaction. The other side of the transaction is always the Inventory Account of the part being adjusted. Thus, if you wanted to create a wash transaction (where the ledger balances do not change as a result of the adjustment), you would enter the same account number in the Credit Account field that is in the Inventory Account field for that part.


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