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Financial Exchange Overview

This article is about the integration and features of Point of Sale and QuickBooks that are allowed during Financial Exchange. This includes the following:
  • Requirements for Financial Exchange
  • Data Transferred During the Exchange
  • Activities done between QuickBooks and Point of Sale
  • Accounts affected during Financial Exchange
  • Default Accounts and Mappings
  • Creating Default Accounts in QuickBooks
  • Allow Financial Exchange without having QuickBooks open
  • Financial Exchange Integration Set Up
  • Initiate a Financial Exchange
  • Point of Sale tracks your daily point-of-sale business like purchasing, receiving and selling merchandise as well as tracking inventory and customers.
  • QuickBooks financial software helps you pay bills, manage cash flow, invoice customers and run financial reports.
  • Financial Exchange is a process of sharing information between these two programs usually done anytime or as part of your end of day procedure. Financial Exchange significantly reduces your workload as it keeps you from entering the information twice.
Detailed Information

Requirements for Financial Exchange

Note: Intuit strongly recommends integrating supported versions of Point of Sale with supported versions of QuickBooks. The following are the supported versions of QuicBooks for POS versions 2013 and 12.0:
  • QuickBooks Pro and Premier: Versions 2014 - 2016
  • QuickBooks Enterprise Solutions: Versions 14.0 - 16.0

Before you can connect Point of Sale to your QuickBooks financial software and share data,the following must be met:

  • Install supported versions of QuickBooks Pro, Premier, or Enterprise Solutions on the same computer where POS is installed
  • QuickBooks must be open to establish the connection between the programs

Data, activities and accounts affected during the exchange:



Financial Exchange Set Up

Before you can share data, you should prepare your QuickBooks financial software by doing the following:

  • Make a backup copy of both your Point of Sale and QuickBooks files. (Create a unique name for the backup. For example: "POS backup before QB").
  • Install QuickBooks on the same computer as Point of Sale for sharing.
  • Turn on the collection of sales tax, if applicable.
  • Turn on Inventory, if applicable.
  • Clean up QuickBooks lists (optional, if you plan to import data)


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