Financial Exchange Setup in QuickBooks

1. Financial Exchange Setup in QuickBooks Financial exchange process is used to share the information between QuickBooks Point of Sale and QuickBooks Desktop. This process will reduce the workload and no need to feed the information twice in a day. As well as you can manage the account receivable in QuickBooks For using Financial Exchange you need to setup in your system. In this article we will learn how to setup financial exchange in the system. How to Setup Financial Exchange in your Computer Before the setup of QuickBooks Financial Exchange in your system to connect QuickBooks POS and QuickBooks POS for information sharing ensure you fulfil the entire following requirement: Install the supported version of QuickBooks Desktop Pro, Premier, or Enterprise on the same computer where POS is installed. Take note in case of POS v18, you can properly integrate with any supported version of QuickBooks Desktop. Create a backup copy of both software QuickBooks Desktop Point of Sale and QuickBooks Desktop files and save with name that will help you to differentiate the backup such as QBPOS backup before QB. Turn on Sales Tax in QuickBooks Desktop Turn on Inventory in QuickBooks Desktop Also set preference that allows Financial Exchange to access QuickBooks Desktop with opening the QuickBooks Desktop. While financial Exchange should be run while QuickBooks Desktop is

2. open, you can also do this while the program is closed. To make this possible, set your QuickBooks preferences: Go to the Edit Menu, Select Preference Select Integrated Applications from the left panel then go to Company Preference tab. Now go to the Application list select QuickBooks Point of Sale Now select Properties From Access Rights tab, Click on the option Allow this application to read and modify this company file. Click on OK in the Properties window, and in the Preferences window. Set up QuickBooks Desktop Connection Now in Point of Sale From File menu, go to Preferences > Company > Financial > Set Up QuickBooks Desktop Connection Now in Point of Sale. If you have previously connected to QuickBooks, you may see a screen that says: Continue to use this company file or Let me choose a new company file Note: Always select Let I choose a new company file, choosing new company file does not affect your data in any way. You will be prompted to start QuickBooks and log in as Admin. Click Next. QuickBooks Desktop Point of Sale is now ready to share data with your QuickBooks financial software. Hit Finish. Source: https://app.hackernoon.com/drafts/6WTqQpJd5b47SWXFvgpV