The Balance Wizard (Exporting to QuickBooks)

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Revision as of 10:22, 14 February 2011

After you have set up your QuickBooks software, Chart of Accounts, and entered opening balances for your accounts, you are ready to export your FTD Mercury data to QuickBooks. You can always view or print your sales information for the given date range before you export (you do not have to purchase the Accounting module to view or print sales information, only to export to QuickBooks).

Before you export data to QuickBooks, there are a few things that you should complete in FTD Mercury:

• If you want your Point of Sale transactions to be included in the export, you must perform a Z-Out on your cash register. Otherwise transactions in the open Point of Sale session are excluded from the export.
• If you have enabled store transfers or added any product categories or paid out/in types in Mercury Administration since creating your QuickBooks Chart of Accounts, make sure to add these accounts to your Chart of Accounts in QuickBooks before exporting (otherwise you will not be allowed to export). Do this by re-running the Chart of Accounts Wizard (see The Chart of Accounts Wizard on page 20–7).

To export to QuickBooks:

1. On the FTD Mercury Main Menu, click Accounting.
2. Click the Balance button.
3. Complete the information on this screen:
   • Store Name: This drop-down field contains all of your stores that have been associated with a company file when you set up your Chart of Accounts in the Chart of Accounts wizard. Select the store data that you are exporting to QuickBooks (you can only export one store at a time).
   • Start Date/End Date: Specify the date range of the data you are exporting by selecting a start date and end date. By default, the start date is the date of the earliest un-exported transaction and the end date is today’s date.
   • Detail or Summary: Specify if you want to go through the Balance Wizard in Detail or in Summary. Selecting the Detail option takes you through every screen of the wizard, listing cash sales, credit cards, customer receivables, wire service receivables, and gift certificates/gift cards all in detail before you reach the Summary Report.
     Selecting the Summary option takes you directly to the Summary Report (see Sample Balancing Summary Report (page 1) on page 20–16), which lists a summary of the transactions that you will be exporting to QuickBooks. Skip to step 9 if you want to skip to the Summary Report.
   • Print Balance Report: First, select whether you want to print the report or preview it, and then click this button to print the Balancing Summary Report, which lists your cash sales, credit card transactions, customer receivables, wire service receivables, gift certificate transactions, and store transfers in detail. See the following example report. Note that each of these sections can be printed individually on their corresponding screens in the Balancing Wizard. You can choose to print the entire report now, or you can print only the sections you need on the following screens.
4. Click Next to view your cash sales (if you selected Detail in the Store Selection screen). This screen displays your cash sales for the given date range. Clicking Print Detail Report prints the CASH/CHECKS section on the Balancing Summary Report.
5. Click Next to view your credit cards and debit cards (if you selected Detail in the Store Selection screen). This screen displays your credit card and debit data for the given date range. Clicking Print Detail Report prints the CREDIT/DEBIT CARDS section on the Balancing Summary Report.
6. Click Next to view your customer receivables (if you selected Detail in the Store Selection screen). This screen displays your customer receivables and store transfer data for the given date range. Clicking Print Detail Report prints the HOUSE ACCOUNT section on the Balancing Summary Report.
7. Click Next to view your wire service receivables (if you selected Detail in the Store Selection screen). This screen displays your incoming and outgoing sales information for the given date range. Clicking Print Detail Report prints the WIRE SERVICE section on the Balancing Summary Report.
8. Click Next to view your gift certificates/gift cards sold and redeemed (if you selected Detail in the Store Selection screen). This screen displays the gift certificates/gift cards purchased and redeemed for the given date range. Clicking Print Detail Report prints the GIFT CERTIFICATES/CARDS section on the Balancing Summary Report.
9. Click Next to view the Summary Report. This screen displays summary information for each date within your date range.
10. Click Next to view the journal entries that will be made to QuickBooks. This screen displays the journal entries that will be made to QuickBooks after you click the Export button. Each account is listed by the account number and name, and then the amount debited or credited is displayed in the appropriate column. Clicking Print GL Report prints the information that you see on the screen.
11. At this time you are ready to export. You can use the Back button to go back and change any information if necessary. When you are ready to export to QuickBooks, click the Export button.
12. Next you are warned that it is recommended to create a backup of your QuickBooks company file. Click Cancel to stop the process and create a backup of your company file (refer to the QuickBooks online help for instructions). Or click OK to continue without backing up.
    NOTE: Your QuickBooks company file is backed up every night during your FTD Mercury nightly backup.
    After clicking OK, you may receive a message instructing you to update the Chart of Accounts. In the example above, the user added the product category “Silk” in Mercury Administration but forgot to add a sales account for it in QuickBooks. If an account does not exist in QuickBooks and you are instructed to update the Chart of Accounts, re-run the Chart of Accounts Wizard, then reexport in the Balance Wizard.
    You receive the following message when the export is complete:
    

    Export of GL data for store and date range specified was successful.

    Click OK and you are returned to the Accounting screen.

Because QuickBooks does not allow multiple journal entries to Accounts Receivable or Accounts Payable account types, all sales are exported to a Sales Clearing Account. Then additional entries are made removing those journal entries from the Sales Clearing Account and placing them into the proper account in QuickBooks. The following accounts are created in QuickBooks so that when you make Accounts Payable or Accounts Receivable journal entries, the customer/vendor accounts are already created for you. Do not delete these accounts.

The following customers are added to the QuickBooks customer list:

• FTD Mercury Customer
• FTD Wire Service
• TEL Wire Service
• FTD Credit Cards

The following vendors are added to the QuickBooks vendor list:

• FTD, Inc.
• Teleflora