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What should my account and item types be in Quickbooks?

 

What should my account and item types be in Quickbooks?

Here is a listing of the account / item names in your system and what types of accounts / items they should be in Quickbooks.  Keep in mind this is only relevant if you are setting up the Quickbooks integration in your system and you want to use already existing accounts / items in Quickbooks.  Failure to follow these guidelines will result in the web connector failing.

Account / Item Name

Type

Income Account

Income

Asset Account

Other Asset

Cost of Goods Account

Cost of Goods Sold

Accounts Receivable Account

Accounts Receivable

Shipping Item Name

Service

Shipping Account

Income

Tax Item Name

Service

Tax Expense Account

Expense

Tax Income Account

Income

Discount Item

Discount

Discount Account

Expense

Gift Certificate Item

Discount

Gift Certificate Account

Expense

 

(Updated on: 10/31/2011)
 
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