QuickBooks for Retailers

QuickBooks for Retail is one of the industry-specific versions at the Premier level. But there’s more than that for those who are serious about using QuickBooks in a retail environment.

QuickBooks Point of Sale has been around for years. It got a major facelift a couple of years ago. The latest version, 12.0, is just hitting store shelves.

Above is a screenshot of what QuickBooks Point of Sale calls the Navigator. Those familiar with QuickBooks Financial software will see it as the POS idea of the Home Page.

There are a lot of icons, but a close look will reveal straightforward direction on the workflow QuickBooks POS expects.

Note the “1” in the circle over the Order List icon. This indicates we have one open order. Depending upon how we setup and use POS, this could be a sales order, layaway, or a work order.

Turns out it was a sales order. There are three sales orders in the list, but only one has any portion that is “unfilled.”

A mouse click allows us to select some or all of the items on the sales order and complete the sale. The above graphic shows the sales receipt. At this point, select the payment method. If change is required, POS will display how much to give back to the customer.

Customer orders are optional. They are used for backorders or special orders in companies that need those options.

Over the counter sales utilizing just the sales receipt can be completed quickly. The item being sold can be found in the QuickBooks POS item list in a variety of ways. It can be scanned, typed into the appropriate field, or selected from the list.

QuickBooks POS will print merchandise labels with bar codes. This results in the quickest item lookup at the time of sale. The scan results in immediate fill-in of the items on the sales receipt.

Purchase orders can be used, but are optional. The Receiving Voucher transaction brings the new merchandise into stock. This updates the new quantity on hand and the value of inventory in stock.

When used in conjunction with QuickBooks Financial, QuickBooks POS will update the accounting numbers automatically. POS will manage inventory, the item list will reside there, not in QuickBooks Financial.

QuickBooks POS will bring the payments received during the day into QuickBooks Financial so they are ready to create a bank deposit. It will manage customer accounts so that the customer balance will be continuously updated in QuickBooks Financial and statements can be sent from there.

Employees can clock in and out with QuickBooks POS and be paid for those hours using payroll in QuickBooks Financial.

This, of course, is a brief description of the product. If you are a retailer, it may be worth a look to see if the addition of a POS solution could streamline your business.

Hector Garcia, CPA
Certified Advanced QuickBooks ProAdvisor
12401 Orange Drive #136
Davie, FL 33330

Hector Garcia

Hector Garcia

Hector Garcia is a CPA and QuickBooks Consultant.

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