It is possible to export summary purchase order data to an .IIF (Intuit Interchange Format) file for import into QuickBooks when you receive items into your inventory.
Note: This article does not apply to exporting sales and deposit information. Instead, see Accounting Export Setup and QuickBooks Export.
You can include data about as many received purchase orders as you wish in one copy of the .IIF file, including multiple purchase orders from the same supplier and purchase orders received from different suppliers.
The first step is to specify in QuickBooks which accounts should be debited and credited. If you wish, you may enter your suppliers' QuickBooks vendor names in the Order Manager. Going forward, whenever you click the Post Data button on the Receive Inventory tab of the Purchase Orders screen, the Order Manager exports the purchase order data to an .IIF file that you can import into QuickBooks. Note that this feature was designed to work with QuickBooks Pro 2002 but it should also work with previous versions of QuickBooks.
At the beginning of each .IIF record are the records that prompt QuickBooks to create the appropriate debit and credit accounts if they do not already exist in QuickBooks.
Each time you click the Post Data button, the following information is added to the .IIF file:
Data that prompts QuickBooks to create a vendor record in QuickBooks for the current supplier (if that vendor does not already exist in QuickBooks).
A Transaction (TRNS) record that is added to the appropriate accounts payable account.
A Detail (SPL) record that is added to the appropriate asset or expense account.
Go to the Main Menu>Maintenance Menu>Import/Export tab>Accounting Export Setup button. The Accounting Export Setup dialog box opens.
Click the Edit Settings button.
Complete the fields on the Purchase Orders tab as follows:
Versions 4.2 & below
Export PO Data to QuickBooks? Click in the checkbox.
Purchase Order Payable Account Enter the name of the accounts payable account in QuickBooks (e.g. Accounts Payable) to which you wish to add a payable when new inventory is received.
Purchase Order Asset Account Enter the name of the asset account in QuickBooks (e.g. Purchases, Inventory, etc.) to which you wish to add when new inventory is received.
Purchase Order Text File Name Enter the full path and file name of the .IIF file that the Order Manager should create, e.g. c:\program files\intuit\QuickBooks Pro\OMPO2QB.IIF.
Purchase Order Archive Location Select a folder on the current hard drive where the Order Manager should save .IIF files that have been imported into QuickBooks.
Note: To avoid importing duplicate transactions into QuickBooks, after you import an .IIF file, you must either delete that file or move it to an archive location.
Versions 4.3 (Beta) & above
Export PO Receiving Data? - Check this option to export purchase order receiving data.
Export PO Invoicing Data? - Check this option to export purchase order invoicing data.
Export PO Receiving Data - Check this option to export data about items received using the Purchase Orders system.
IMPORTANT NOTE: The Order Manager DOES NOT yet record receiving history at the Inventory Screen or at the Scan Non PO Items into Inventory screen. Any receiving recorded here WILL NOT be exported to your Accounting System!!!
IMPORTANT NOTE: The Order Manager DOES NOT yet record inventory valuation changes for "Inventory Adjustments". Adjustments WILL NOT be exported to your accounting system.
Export PO Invoicing Data - Check this option to include invoices (bills) entered at the Purchase Orders system in the export to your accounting system.
Purchase Order Payable Account - Set this to your "Accounts Payable" account (QuickBooks) or an "Expense" account (text). This will be the account that gets credited when invoicing data is exported.
Purchase Order Liability Account - Set this option to an "Other Current Liability" (QuickBooks) or to a "Liability" or "Expense" (text) account. This account maintains the value of received goods (as a negative) that have been received (or drop- shipped) but have not been paid for (invoiced). This account is credited at time of receiving or, for drop-ships, at the time the item is marked as "shipped" (post order approval). This account is Debited by the product totals recorded on an invoice.
Purchase Order Asset Account - Set this account to "Inventory Asset" (QuickBooks) or "Asset" (text) account that tracks your total inventory value. This should be the same account that is set as the Credit Account for Cost of Goods Tracking on the Sales Accounts tab.
Purchase Order Freight Charges - Set this to an "Other Current Expense" (QuickBooks) or an "Expense" (text) account for maintaining the Debit data for shipping charges incurred against Purchase Orders and Drop-Ships. Credit Account is the Purchase Orders Accounts Payable account.
Purchase Order Discounts - Set this to an "Other Current Expense" (QuickBooks) or an "Expense" (text) account for maintaining the Debit data for discounts applied to Purchase Orders and Drop-Ships. Credit Account is the Purchase Orders Accounts Payable account.
Purchase Order Surcharges - Set this to an "Other Current Expense" (QuickBooks) or an "Expense" (text) account for maintaining the Debit data for surcharges applied to Purchase Orders and Drop-Ships. Credit Account is the Purchase Orders Accounts Payable account.
Click Close to save your settings and exit the Accounting Export Setup dialog box.
Go to the View Suppliers dialog box in the Order Manager one of two ways:
Main Menu>Maintenance Menu>Inventory & Suppliers tab>Suppliers button
Quick Clicks>Suppliers
Compare the suppliers in the Order Manager to the vendors in QuickBooks. Each supplier from whom you receive inventory must be listed in QuickBooks. The vendor name must match the supplier's name as it appears in either the Company Name field or the Account Name field on the Company Info tab.
Click Close to exit the View Suppliers dialog box.
Note: Each time you go to the Purchase Orders screen in the Order Manager, the program looks for the .IIF file. If it finds it, you are prompted to either archive the .IIF file, delete it, or keep it so you can continue adding data to it. If you have already imported the data in the .IIF file into QuickBooks, you should either archive it or delete it so you avoid creating duplicate records. If you have NOT imported the data into QuickBooks yet, you should keep it so you can import it later; otherwise, you will lose the data.
In QuickBooks, go to File>Utilities>Import.
Select the .IIF file.
Note: Before you import data into QuickBooks, we strongly recommend that you backup your QuickBooks data. A backup copy will allow you to restore your data if something happens during the import.
See Also