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Wrong General Ledger Account on Item in QuickBooks from ServiceLedger

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All general ledger information in QuickBooks is controlled by QuickBooks via the Item General Ledger Chart of Accounts settings for each item you create in QuickBooks.  Depending upon the type of item, QuickBooks will require you to enter a Revenue Account, a Cost of Goods (COGS) Account and Inventory Asset Account.  As long as the general ledger chart of account is correct on the item level, QuickBooks will place all transactions in the proper accounts for you.

If you create items in ServiceLedger, you will need to adjust the accounts that should be associated with that item using one of the following two methods:

Method 1: (Requires ServiceLedger 2010 or greater)

When entering new items in ServiceLedger, you can immediately specify which income, COGS, accounts should be used when the item is exported to QuickBooks. To do this, you will already need to have imported your Chart of Accounts from QuickBooks. Once the Chart of Accounts has been imported, you should be able to specify the desired accounts on any new items in the 'Accounting' tab of the item window. The accounts can be changed up until the item has been exported to QB, after which point method 2 below must be used to change the accounts.

Method 2: (Works with all versions of the QB Link)

ServiceLedger will enter Uncategorized Accounts for each of the Revenue Account, COGS Account and Inventory Asset Account.  If this is the case, all you need to do is go into QuickBooks and open the Item List and find all items with Uncategorized Accounts and edit the item to enter the correct account for the Revenue Account, COGS Account and Inventory Asset Account.  You will have an option in QuickBooks if you want the change to reflect future transactions only or past and future transactions.  Please be sure to select past and future transactions to properly classify the transactions to the appropriate chart of accounts.

 


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