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We have Quickbooks 2014 and Microsoft RMS 2.0. Single lane, two machines. Every piece of documentation I read indicates that we should see a line for "Inventory: Cost of Goods Sold" when navigating to Journal, and then Assign general ledger Accounts, however this is not present in our installation. Anyone else encountered this and is there a way to make this available?........or is there a workaround? We currently have no way to make inventory visible to our Quickbooks installation and are unable to provide accurate financials (P&L, Balance Sheet) since our inventory is not visible to Quickbooks.
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There are many third-party QB links as well Matt, from about $700 implemented for a very good, more advanced module, to several thousand $$ and actual Inventory Item integration.
Hi Ed, thanks for the answer. I have the integration running correctly from the sounds of it. I'm trying to figure out the best way to provide financials in an ongoing and sustainable fashion. I'm not seeing a clear path here without having all of the data imported into quickbooks.
the RMS to Quickbooks integration is general in nature and will not post inventory to quickbooks. This is by design because your inventory lives within RMS. So Microsoft assumes you will only use quickbooks for financials and operating costs that RMS does not track. Inventory Assets do not transfer, as all inventory is tracked by RMS.
Cost of Goods, can either be a grand total or broken down by department. You can find the COGS: department section after the Tender Short: section.
You need help setting up the integration, let us know.
I do see "COGS: Total", and yes we have access to assign general ledger accounts. The configurations in the File > Configuration > Accounting tab is correct. Are you suggesting that the COGS: Total line replaces the Inventory: Cost of Goods Sold line?
If so, we do have it set up that way which basically creates an entry for COGS in our QB journals with an offsetting Inventory Asset transaction when sales are made. Maybe I'm missing something here, but that doesn't result in any kind of inventory asset.
Do you not see COGS Total as the top choice in the list of accounts? Or do you not even have access to Assign general ledger accounts?
If the entire list is not available, you will need to enable it by choosing one of the QuickBooks choices in the configuration, File > Configuration > Accounting tab
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