iVend Quickbook Online Integration

  1. Configuration
  • Applicable: Quickbook Online, iVend 6.6
  • Option:
    • Sales Integration: by GL or by Sales Receipt
    • Sales Receipt Integration: by Product or by Product Group
    • Enable Purchase Order Integration
    • Enable Inventory Posting
  • Mapping:

- Product Group:

   + COGS Account

   + Inventory Account

   + Revenue Account

   + QBO Item No.

- Payment Type: GL Account

- Tax Code: GL Account

  1. Summary Daily Sales Posting:

Once End Of Day is performed in iVend, an Journal Entry will be generated in Quickbook Online: 

Cr. Revenue Account ( From Product Group)

Cr. Tax Account  ( From Tax Code)

Dr. Payment Account  ( From Payment Type)

  1. Inventory Posting:

iVend supports standard cost and moving average cost, so for every sales transaction, we can get COGS value to generate journal posting in QBO:

Dr. COGS Account  ( From Product Group)

Cr. Inventory Account  ( From Product Group)

  1. Sales Receipt:

Once End Of Day is performed in iVend, a Sales Receipt will be generated in Quickbook Online:

- By Product

- By Product Group

  1. Purchase Order:

in iVend, user can create Purchase Order then Goods Receipt PO, but not able to perform Vendor Payment. So the Goods Receipt PO from iVend will be posted to Quickbook Online as Purchase Order: