QuickBooks Online and Toast Integration Tutorial

[@adil.abbasi1.0]

Great lesson as always. Thanks for sharing such high value info. I would request you cover Shopify and Amazon/QuickBooks topics. Also if you could explain how to understand their sales reports.

[@ClaudiaXperts]

Thank you, I will cover those Shopify is next!

[@adil.abbasi1.0]

@@ClaudiaXperts thanks, and using sales summary function in QB too

[@heathersimon5917]

Working on QBO for a food truck. In the clearance account you mentioned recording income and expenses for Toast. For example, there are monthly fees associated with using the toast POS system automatically debited from the bank account. Should that be recorded under the clearance account? When recording September sales and adding the bank settlement deposits the clearance account has a balance. You mentioned it should zero out.

[@ClaudiaXperts]

Hi Heather if the monthly fees are going through your checking account you just categorize from the bank feed no need to enter in the clearance account. At times clearance may hold funds, therefore, there will be a different till the funds are released.

[@Umie-p7c]

As Usual, It's useful. Thank You !! 😊

[@ClaudiaXperts]

You are very welcome!

[@danildaruiz2287]

Hello, I am confused here. Why do we enter the gross sales when that has the tips collected as well? the actual sales are the gross sales minus the tips which will then give us an actual picture of our daily/monthly revenues. To match it with Toast we should then take the gross sales minus the tips and that is what our revenues should be. can you please clarify?

[@ClaudiaXperts]

Hi Dan this information is taken from the Toast reports. Please note that the tips is a liability in the balance sheet. So we credited the liability account to match what in the Toast report. We are not making up those numbers they are coming from Toast. The tips liability is removed when tips are paid to employees. They are never recorded in the Profit and Loss

[@lamaracuchafood-truck1836]

@@ClaudiaXpertsyes. Like sales taxes

[@lukefloor1753]

Could you show how to record the Toast Fees?

[@ClaudiaXperts]

Sure!

[@venkatasivakrishnaabburi3633]

May I know how are you tracking the toast fee in QuickBooks? or are you ignoring the fee and taking only the net revenue from Toast

[@ClaudiaXperts]

Not ignoring the fees, recording according to the reports.

[@Mamm-j2n]

what about payments on the sales reports that "other" ?

[@ClaudiaXperts]

It could be anything, you will need to ask the business owner what was categorized as other.

[@RestaurantAccountantInHell]

Working in Xtrachef & QBO- are there any experts out there with experience mapping COGS & Sales in Xtrachef to QBO? Please help if at all possible, I am willing to pay an expert to help with this. I am new to restaurant accounting and need to get my P&L correct. Please help! :)

[@ClaudiaXperts]

We can help

[@ClaudiaXperts]

I am specialized in QuickBooks integration we can look at it to see what is going on.

[@lamaracuchafood-truck1836]

But if you do it this way (which I love cause it’s old school and THAT never fails), then, the sales taxes are not automatic and the sales tax tab I’ll have it without a purpose. Right?

[@lamaracuchafood-truck1836]

If I let, say: commerce sync, do their little invoices AND charge me for the service, then the sales taxes are gonna show on the salex tax tab

[@ClaudiaXperts]

The sales tax will go straight to the balance sheet as a short term liability named sales tax payable. When you pay it you categorize as sales tax payable to offset the liability. With commerce sync they may send sales receipts for each batch containing the sales tax. You will need to set up sales tax prior to integrating with QuickBooks.

[@lamaracuchafood-truck1836]

@@ClaudiaXpertsso should I just ignore the sales tax TAB that qbo has for us there?