Post P&L to QuickBooks in Summary
This feature posts the sum totals of order P&L to their specified accounts in Quickbooks. The totals are summed up according to the QB journal entry types below.
The P&L summary is an alternative to posting every order individually with the Post Detailed Sales Order To QuickBooks feature. Posting in summary is often preferred, as too many transaction details can lock up your QuickBooks installation.
To post the P&L in summary, you must:
- Map the journal entries.
- Post the P&L from Quickbooks.
Mapping journal entry types to QuickBooks accounts
Journal entry types can be mapped to specified Credit and Debit accounts in QuickBooks, as well as associating the entry with a specified customer or vendor name. This mapping should be set up by the client's accounting department. Please see the Mapping Guidance section below.
The following journal entry types can be mapped to QB accounts: COGS, Commission, Posting Fees, Promotions, Refunds, Sales, Shipping, Tax, and Transaction Fees.
Mapping journal entries is a company-level configuration with a separate mapping for each channel.
- Go to Settings > Company Settings > Toolbox > QB Settings > Journal Entry Mappings.
- Select the Channel and Journal Entry Type > map the account and name fields > Save.
- Repeat for all journal entry types for that channel.
- Repeat for all channels.
Tips for mapping
- All names used when mapping journal entry types to QuickBooks accounts must match exactly to their corresponding names in QuickBooks; otherwise, an error will occur on export.
- The Debit Name and Credit Name refers to either a customer name or a vendor name associated with the transaction. Because this feature posts order P&L in summary, you should use a generic name for the sales channels; for examplel, Amazon Customer.
- The generic customer and vendor names should be set up in QuickBooks before posting P&L in summary.
- When posting to an Accounts Payable account type, the QBCustomerFullName must be set up as a vendor in Quickbooks, not as a customer.
Posting P&L in Summary to Quickbooks
- Make sure that QuickBooks is open and running on the same computer as QuickBridge.
- Select QuickBooks from the menu bar.
- Select Post P&L to QuickBooks in Summary.
- Select a date range, a Company, and a Channel, then press Get Company P&L.
- The grid will load with individual orders. However, only the journal entry totals will post to QuickBooks.
- Under the "Posting Information" section, you can press the Accounts button to view the the account mapping and the total that will be posted to each account. The account fields are editable and can be saved back to SellerCloud.
- The "Posting Accounts" section displays the totals of journal entries that will be posted.
- Press the Post P&L to QuickBooks button to export to QuickBooks.
Post general journal entries
Post general journal entries works the same as Post P&L to QuickBooks in Summary; however, it is transaction-based, which accounts for each transaction independently.
In addition, the following features have been added to simplify reconciling with the channel payment:
- Transactions that are related to a settlement can be filtered by Settlement ID. (Currently only relevant to Amazon and FBA.) Entering a Settlement ID will override the Trans Start Date and Trans End Date.
- Additional journal entry types for Amazon non-order-related transactions, which can be mapped to specified Credit and Debit accounts in QuickBooks, such as FBA Inbound Transportation Fee, Storage Fee, RemovalComplete, ServiceFee, Subscription Fee, etc.
- Filter by order-related fees and non-order related fees. (Currently only relevant to Amazon and FBA). This can be useful to bring in non-order related fees when using Post Detailed Shipped Orders to QuickBooks.
- Checkbox for each line in order to include/not include a transaction(s) in an export. The checkbox in the header will check/uncheck all (by default all transactions are checked). This can be useful if you would like one journal entry type mapped to two different QB Accounts. You can separate the transactions and make a second posting with the specified mappings.