Worldpay Accountancy

[Mostly Baffled]

Hi,

We're having a problem with invoicing with Quickbooks. To cut a tedious story short we use Actinic v7 but will be moving to Business in about 6 months at which time this will no longer be a problem (linking in etc). But.

At the moment we have trade customers who we invoice through Quickbooks and record payments when they come in, and general public customers who order through the website, payment for which is collected by Worldpay. The question is how do we record the online sales within Quickbooks and, with Worldpay invoicing and paying us a month later, when do we do it??

Having looked around the forum I see some solutions but they seem to suggest recording each individual online order as a seperate customer in Quickbooks. As we have a great deal more general public customers than we do trade customers this would be a real finger snapping exercise.

I suppose it's more of an accountancy question but any users with a solution would be goldplated for us because it is a real pain.

Thanks

[pnagames]

Hi Linda

we get loads of online sales that we record in our quickbooks

the way we adopted (because we raise the invoices outside quickbooks) is by creating ONE account called "Store" and we record all sales against it. then you can record the deposit against each one.

the only problem we can see with this that you may have is when you have more than one orders on same day for same amount and you are missing one of the payments (it will be tedious to track which one hasn't paid)

if you want to keep all your sales somewhere for future what you can do is print them on pdf from actinic

[Mostly Baffled]

Hi P,

Thanks for this. I'm not sure I understand fully. Do you actually list your sales to online customers in Quickbooks eg:

Mrs Jones l red widgets l x2 l 17.5% l total £4.50
Mrs Smith l white widget l x1 l 17.5% l total £2.25
etc..

because I was hoping that we could record a months worth of online sales as a lump sum rather than listing the customers individually. Our invoices for online sales are produced by Actinic so the thought of having to reproduce the same for QB is a bit daunting.

[acompton]

Linda,

I've recently started on the QuickBooks route and found there are some pitfalls:
QB 2008 has radically changed the way VAT is done, so I believe the Actinic export file no longer works.
The Starter version of QB won't do importing, you need the Pro version.

I record a month's worth of Sales as a lump sum to 'Internet Customer', but each sale is recorded as a line item in a General Journal entry.

If the invoicing and payment are some days apart and the payment is in a lump sum covering several days, it might be best to put the sales into a separate account and then do a bank transfer when paid. That makes reconciliation easier.

Quickbooks has a forum, similar to this one, that has suggestions on how to handle certain situations.

[Mostly Baffled]

Hi Alan,

Thanks for that. It seems to make sense that way I'm just hoping that I don't need to list every sale (if I was a bricks and mortar shop using QB I wouldn't list every customer that walks in and buys something so hopefully the tax man will be happy with that).

I'm actually looking at QB forums at the same time as trawling actinic and there are other options appearing there. This seems to be a useful one offered to someone last year and roughly follows your advice:

"In order to get the data into QuickBooks so that it reports correctly, you need to create Invoices (with a payment) or a Cash Receipt. You need to have an Item that you use for these, (probably "commission" would be appropriate). If you need to reconcile the payments you receive against something, you will need to set them up individually. If you just need to enter them, you could have a single Customer (like "Insurance Companies" and simply put the Company name in the memo field. Whether you use Other Name or Customer is not really an issue - the question is whether you need to track them individually or not."

So I think I'll go for a hybrid and hope that I don't see smoke when I press the return button!

[acompton]

I have three income channels and treat them slightly differently:

Protx - the money always arrives the next day so I import the sales in a one month block straight in to the Bank Account and it is easy to reconcile.

PayPal - money goes into a PayPal account and I manually transfer into my bank account from time to time. Again I import sales in a one month block, but this time into a 'PayPal' account I have set up in QuickBooks. I reflect the manual transfers with a Bank Transfer.

Amazon - bit like you description of World Pay - money goes into an Amazon account and they pay up every 2 weeks (ish). I've been doing one month lump sums, but it has been very difficult to reconcile, so I'm going to change it to operate more like PayPal, above.

[pnagames]

bit further explanation on our setup

we have set up accounts corresponding to our sales avenues and also customers based on the sales avenues

we record each sale (i.e. store sale gets recorded as sale from customer "Store" and the payments gets recorded either against paypal or bank account depending on how they pay).

you can record obviously a lum sum income against each sale avenue for the month or for the day. (its our preference to go by sale)