Accounting with MerchantOS

How to use Quickbooks or manually balance your books.

Learn how you can use Quickbooks or how to manually balance your books in any other system using MerchantOS.

Accounts And Getting The Numbers

You will need the accounts listed below (or some equivalent) to balance your books with MerchantOS.

What Are we Entering?	Account	Balance With	Where do I get the numbers?
A normal sale	Sales (+) Sales Discounts (-) Local Sales Tax (+)	Undeposited Funds (+)	Sales and payments balance report
Inventory entries for a sale	Cost of Goods Sold (+)	Inventory (-)	Sales and payments balance report
Credit account deposit (Layaway, Special Order, and Workorder Deposits)	Accounts Receivable (+)	Undeposited Funds (+)	Deposits Report
Payment for a sale with a Credit Account	Sales (+)	Accounts Receivable (-)	Sales and payments balance report
Adding a bill	Accounts Payable (+)	Inventory (+)	PO Report

Recording normal sales

1. Click the Reports button.
2. Click the link to the Sales & Payments Balance report in the Other Reports section.
3. Set the search parameters at the top of the report to the appropriate date range.
4. The top listing labeled Sales has the numbers needed for your books summed up at the bottom.
   • Add the subtotal to your sales account
   • Add the sales tax to your sales tax account
   • Remove the discounts from your discounts account
5. The second listing labeled Payments will have all your payments and will balance the account adjustments above.

Recording Inventory and Cost of Goods Sold

1. Click the Reports button.
2. Click the link to the Sales & Payments Balance report in the Other Reports section.
3. Set the search parameters at the top of the report to the appropriate date range.
4. The top listing labeled Sales has the numbers needed for your books summed up at the bottom.
   • The summed row at the bottom labeled cost is your cost of goods sold. Balance this with your inventory account.

How To Export To Quickbooks

Sales Taxes

Your sales tax ledger should keep a running tally of your sales tax liability. If you are not keeping books you can get your sales tax due for any date range. This number should match your books exactly if you are correctly entering your transactions or if you are using MerchantOS Quickbooks exports.

1. Click the Reports button.
2. Click the Sales Lines link to access the sales lines report.
3. At the top of the report, enter the date range for which you would like to report sales tax then press Search.
4. Towards the bottom of the report is a summed section with a row labeled tax. This is the amount of tax you have collected for the period.
5. The subtotal row in the summed section is what you should report as total sales.
6. The Discounts row will be a deduction on your tax form.
7. To get a list of all taxable items sold out of state (Taxable but no tax collected), in the more options search section at the top of the listing select Non-Taxed in the Click select list labeled Tax.