Posted - 03/17/2022 : 07:39:25
Years ago, our CPA convinced us to discard the bad QuickBooks integration software we were using, and to forget importing individual transactions into QuickBooks.
Instead, we create QuickBooks entries dated the last day of each month to match the few top-line totals (like Payments received, Payment fees, and Refunds sent) reported for the month by our payment processor PayPal.
We also concluded that QuickBooks is useless for managing our builds and inventory; instead we use an Excel spreadsheet that imports transactions from the cart, summarizes builds and components used per month, reports component PO requirements, and so on.
We copy-and-paste the monthly usage of each component into QuickBooks as an Inventory Adjustment, and QuickBooks calculates the monthly COGS using data from past POs.
Originally we started with a very simple spreadsheet, and then expanded it with additional forecasting and reports as needed.
Using this process we're able to close our books promptly at the end of each month.
Our big frustration with Intuit is that our QuickBooks Pro 2016 Desktop version worked fine, but they repeatedly disable the software and with each forced, paid update (now sold as a 12-month "QuickBooks Desktop Pro Plus 2022" subscription) more the basic features always seem to break. :-(
Edited by - pauld on 03/17/2022 07:44:56
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