Katana's integration with QuickBooks Online allows you to synchronize stock adjustments, ensuring that your inventory levels and financial records remain accurate across both platforms.
Enabling stock adjustment sync
To activate the synchronization of stock adjustments from Katana to QuickBooks:
Navigate to integrations:
In Katana, click on the Integrations Marketplace icon in the top toolbar.
Configure QuickBooks Online integration:
Locate QuickBooks Online and click Open configuration.
Enable stock adjustment sync:
In the configuration options, check the box for Send Stock adjustment value to QuickBooks.
Note: This feature requires that purchase orders be sent as bills/inventory assets to QuickBooks.
Activate the configuration:
After selecting the desired options, click Activate to finalize the setup.
Sending stock adjustments to QuickBooks Online
Once the integration is configured:
Access stock adjustments:
In Katana, navigate to the Stock screen and select the Stock adjustments tab.
Select adjustments to send:
Choose one or more completed stock adjustments that you wish to send to QuickBooks.
Initiate the sync:
Click on Send adjustments to QuickBooks.
Confirmation:
After successful transmission, the status of the stock adjustment will change to Sent.
Handling changes after sending
If modifications are made to a stock adjustment in Katana after it has been sent to QuickBooks:
The status will change from Sent (green) to Sent (yellow), indicating a discrepancy.
This color change serves as a prompt to review and reconcile the differences between Katana and QuickBooks.
To maintain accurate records, manually adjust the corresponding entries in QBO to reflect the changes made in Katana.
Accounting for stock adjustments in QuickBooks Online
Stock adjustments can impact the inventory value in QuickBooks.
Depending on the nature of the adjustment:
Increase in inventory:
Create a journal entry in QuickBooks that debits the Inventory account and credits an appropriate Revenue account.
Decrease in inventory:
Create a journal entry in QuickBooks that credits the Inventory account and debits an appropriate Expense account.
Note: It's recommended to consult with your accounting team to determine the correct accounts to use for these adjustments.
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