Today QuickBooks is one of the most popular software for accounting. Almost 91% of users are happy with this software. This accounting software provides users the best features, one of them is QuickBooks POS. Here we discuss the point of sale integration with QuickBooks.
Why Do You Need Point Of Sale Integration With QuickBooks
Some POS systems provide basic, integrals accountancy and bookkeeping tools, however as your business expands, it’s necessary to invest in software that actually specializes in accounting. Keeping accurate books and tax information is clearly important for all businesses, but it is especially typical when growth occurs.
There is really no replacement for the software that specializes in accounting. Integrating with specialized software optimizes your business abilities by combining the best of everything available.
Benefits of QuickBooks and POS Integration for Your Business
POS integration with QuickBooks can increase your business efficiency so fast. It will also save your time because after integration all work will automatically doing by accounting software. Now it’s time to ensure that you are using the data to your favorite.
For example, based on the purchase data recorded by your POS, you could modify costs throughout a slower day of the week or establish a recurring sale throughout that interval. Review accounting information, later on, to see how these variables affect your finances as a whole.
Related Article: How to Set up Sale Tax in QuickBooks
As another example, if your accounting data shows you’re losing cash on shipping prices, use POS figures to decipher that things needless stock thus you’ll be able to consolidate shipping processes. Use POS and accounting data to see how efforts, like staying open an additional hour or raising costs, affect your company’s growth and sales. POS data gives you the information you need to keep a pulse on your business numbers and customer buying preferences, permitting you to leverage that data to drive sales.
Types of QuickBooks and Point of Sale Integration
Before we start setting up the integration of QuickBooks and POS, it is important to understand how exactly these two software work together. Here, we’ll show you two main methods through which the Point of Sale system and QuickBooks accounting software can work together. Without delaying further, let’s get started.
- Indirect Integration: In this method of integration, you can export your company financial data from the POS system in the form of an excel sheet. Then you need to manually enter the data into the accounting software you are using. This method can be proven to be time-consuming but it does allow you to sync financial and accounting data between QuickBooks and Point of Sale.
- Direct Integration: If you want to utilize your time and want to work more efficiently then the Direct integration method is best for you. Using this method, you’ll be able to do real-time sharing of data between Point of Sale system and QuickBooks. Undoubtedly, Direct integration will increase the efficiency of your business.
- Unlike the indirect integration, you don’t have to manually enter the information from the excel sheets into the accounting software that will be both times consuming and also could lead to errors. Using Direct Integration, you can utilize the time as well as reduce human errors at the same time.
- If you are syncing the POS system with QuickBooks accounting software then you’ll be able to easily generate detailed reports that will help you in understanding the business sales and growth. To grow a business it is important to take risks and do experiments. Whenever you do some changes like this in your business then due to integration with the Point of Sale, QuickBooks will get a feedback report that will help you in making important decisions regarding your business.
Best POS Systems that integrate with QuickBooks Desktop and Online
There are many features due to which QuickBooks is the first choice of accounting software for many businesses and enterprises. Therefore, other software is always keen to integrate with QuickBooks. One of those feature is ability to combine with the POS systems. As we mentioned above, there are two methods of integration first is indirect integration and the second is Direct integration. Depending upon the version of QuickBooks you are using, you need to choose the method.
Although, QuickBooks also offers a POS service of their own known as QuickBooks Desktop Point of Sale. It is designed and developed by the Intuit and is a non-cloud based POS system. But, there are many other Point of Sale software that has more to offer. Let’s take a look at the best POS systems that integrate with QuickBooks.
1. ShopKeep: Best for Small Business and Retail Shops
Overview- This is compatible with QuickBooks Online. ShopKeep is one of the best Point of Sale systems due to its simplicity and elegance. This is the best fit for small businesses and retail shops like coffee shops. To utilize its all features, we recommend you use it on the iPad. The features of ShopKeep are tailor-made for the hybrid-like businesses i.e. Shops or businesses that sell both the food products and merchandise also. ShopKeep may not be a great fit for the large businesses due to its limitations of Inventory (10,000 units).
Pricing- At just $69 per month, this is one of the best value for money POS system for small businesses. If you are running a business with just one register and one staff account then ShopKeep even offers free plans.
Features- The main highlights of this software are its raw material management, gift card support, local SEO, great customer service, and ShopKeep Payments which in in-built service. If you don’t want to process payments using ShopKeep Payments then you are allowed to choose other payment gateways.
Compatibility- ShopKeep Point of Sale integration with QuickBooks Online is quite simple. But once QuickBooks account link with the ShopKeep, the free plan will be no more available. ShopKeeps will automatically sync data with QuickBooks which includes work shifts timing, summaries of sales, returns, tender totals, Discounts, sales tax, and cash register activity.
NOTE: ShopKeep doesn’t integrate with the QuickBooks Desktop.
2. Square: Best for low volume Businesses and Enterprise
Overview- This is one of the best mobile-based Point of Sale application. The user interface of this software is very friendly and it also most affordable also. The basic version of the Square is a free POS that is a perfect fit for businesses and shops which deal in low volume. The full version of Square can work perfectly with any type of industry or business. One of the major benefits is that it can integrate with any software.
Pricing- You can get the Square for Retail and Square for Restaurant at $60 per month. The Basis Square POS is available for free that is suitable for the low volume businesses.
Features- Square consists of all the features that you can think of like solid inventory management, Payment processing, Point of Sale, sales report, tax report, customer service, and many more. You can also create custom reports to track some additional fees. All the reports and data will be automatically sent to the QuickBooks on a daily basis.
Compatibility: The Square Point of Sale integration with QuickBooks Online is pretty straight, But in the case of QuickBooks Desktop you’ll be going to need a third-party application like CommerceSync.
3. Lightspeed: Best for Small Restaurants and Large Retail Shops
Overview- For the business owners who run a restaurant or a retail shop then Lightspeed is the best POS system available out there in the market. There are two versions of this software is available first is the Lightspeed Restaurant and the second is the Lightspeed Retail. The Restaurant version is more grooved for the small retail businesses, on the other hand, the Retail is great for any large business. The Restaurant version is only run on tablet whereas the Retail version can run on both Desktop and tablet.
Pricing- You can get the Lightspeed Restaurant at $69 per month and the starting price of the Lightspeed Retail is $99 per month. You can choose any of them depending on your business. You’ll also get a 14 days free trial on both Lightspeed POS versions.
Features- Lightspeed consists of all the features that will require in large as well as a small business like credit card payments, 24/7 live support, all accounts get free updates, personalized onboarding, it can almost integrate with most of the software, you can create custom reports to view sales growth, etc. Once both programs are synced, the Lightspeed will automatically send all the information to QuickBooks at night on a regular basis.
Compatibility- The Lightspeed Point of Sale integration with QuickBooks Online is very flawless. You’ll only need to set up a Lightspeed Accounting add-on and you’ll be ready to sync data with QuickBooks. But in the case of QuickBooks Desktop, you need to use the Web Connector in order to connect both programs.
The Process of Integration between Point of Sale and QuickBooks
Follow given steps and Integrate POS ( It is only for version 10-12)
- Open your Point of sale and Select File> Preference.
- Select Financial preference, do a checkmark on the box stating Use with QuickBooks Financial Software, and then click on Set Up QuickBooks Connection Now.
- Now, Ensure that the QuickBooks file on the mapped network has been selected.
- Click Next then Finish.
The Bottom Line
We hope this article helps you to understand the Integration of POS with QuickBooks. If you have queries or have any questions related to QuickBooks Call QuickBooks Customer Support Phone Number +1-855-441-4417. Our executives are always ready to help users so feel free and call us.