Setting up Accounting - General Settings for Corestore
Corestore allows for three types of Posting Methods Journal Entry, Summary Sales Receipt or Itemized Sales Receipt. The posting method you choose will affect which settings are made available to you. You may see all of the options below or just some depending on the posting method you chose. To learn more about the types of posting methods and which is right for you see link below:
Class: is an identification that allows tracking of different segments of your business
See links for more information:
If you choose to enable the Book inventory/COGS preference a journal entry will be created to adjust inventory value against Cost-of-goods sold, based on the item costs defined by the Point of Sale.
Sync Purchase Orders
When marked completed, purchase orders can sync as either QuickBooks purchase orders, or as bills. Vendors are matched by name or otherwise created.
A Purchase Order does nothing to the accounting. A Bill will post to an accounts payable account or an item in inventory listed on the bill.
Use a Reference # as PO Number
For the PO ID, use the reference number of the Purchase Order instead of the system generated ID.
Sync Vendor Returns
Vendor Returns can be synced to QuickBooks as Credit Memos. Same mapping Rules apply as for Purchase Orders
If your business accepts personal checks and if your bank combines checks and cash deposits into one amount on your bank statement, you will want this set to ON.
If you do not accept personal checks or your bank lists them separately on your bank statement, you will want this OFF
If your Point of Sale supports cash drawer operations but you do not want to include any reported over or short in your accounting postings set this to ON.
The cash over and short account is used when the primary currency is cash for retail situations. Petty Cash is also an example. Use of an Over/Short account allows for fraud tracking, and identifying employee training needs.
Auto-Payout of Tips
If you pay credit card tips out as cash each night, turn this ON to automatically create a cash payout entry to reflect the debit. If you are recording tip payouts directly in your Point of Sale do NOT enable this option.
Custom Transaction Number
If you want QuickBooks to generate a transaction ID or should we generate one? Transaction numbers are used to count each transaction entered into the QuickBooks File. These can be generated internally in QuickBooks or by Shogo.
If you choose to Shogo to generate the transaction numbers you will want to use a prefix. This can be anything you want.
After making all your appropriate selections, select “APPLY”