Inventory settings page allows you to configure your inventory list from your Shopify account to your QuickBooks account.

 

The following settings are listed in this page:

 

  • Do you want to track Cost of Goods Sold (COGS)

  • Do you want to track inventory in QuickBooks?

  • Select the Income Account for all Products.

  • While updating products, select the fields you do NOT want to be updated from Shopify

  to QuickBooks.

  • Select the “Expense Account” to track products" expenses.


 

*Do you want to track COGS?

You can choose Yes or No to configure your cost price for the products.

 

  • If set to Yes, any order involving a product where the cost price in QBO is not configured, fails to sync. This is reported in the sync error logs. This way you are alerted to set up the cost price for that product in QBO, after which those orders sync successfully.


  • If set to No, then we will sync all your orders irrespective of whether the cost price has been set or not.

 

Note:

  • You cannot run COGS report at the individual product level if the cost price of the product is not specified in QuickBooks.

 

  • Also, this option is applicable only if you have Quickbooks Online Plus billing plan.

 

Warning: If you choose Yes for this field, make sure that your cost price is set in your QuickBooks account, else the syn will fail.

 

 

Do you want to track inventory in Quickbooks?

If you manage your inventory (or stock) in Quickbooks, every product needs to be specifically set to track inventory. If you enable this setting, the Qty on Hand is kept updated in both Shopify and Quickbooks.

 

Note: This option is disabled after the first sync to ensure data quality. For more information, contact support.


 

*Select the Income Account for all Products

 

QuickBooks uses income accounts to categorize the money coming in to your business.The balance in the appropriate income account increases by the value of the product(s) sold every time a new invoice is created for this product.

 

Note: This account is used only while creating new Products.You can freely change the Income Account manually. After creation, the Product accounts won't be updated.

 

An Income Account is an account maintained for a particular item of revenue or income.

 

Select the Income Account for the Products from the drop-down menu. The options are:

 

  • Billable Expense Income
  • Gross Receipts
  • Sales
  • Sales of Product Income
  • Shopify- Product Sales
  • Uncatagorized Income

 

This is a mandatory field for your applications to sync.

 

Select the “Asset Account” for all new inventory enabled products

 

Inventory Asset account is the Chart of Account that tracks the current value of the inventory. If the same account is used for all inventory items, the current balance of this account will represent the current total value of the inventory.


 

Choose your Inventory Master

 

Shopify

If you choose Shopify, the inventory information (Quantity on Hand) in Quickbooks is overwritten with values of that of Shopify.

 

Quickbooks

If you choose Quickbooks Online, the inventory information (Quantity) in Shopify is overwritten with values that of Quickbooks Online

 

Do you want to publish new products in Shopify?

 

Quickbooks is your inventory master and if you add a new product in Quickbooks Online, we will automatically create that product in Shopify and update the inventory information. Using this setting, you can choose to review the information before the product gets published in your store.

 

If you choose Yes, the newly created product in Quickbooks will be published immediately in Shopify.


 If you choose No, the new product will be created as a hidden product. The product should be manually published for it to be visible in the store.

 

Specify TYPE to be used for newly created products in Shopify

 

Using this setting, you can control the product TYPE during the product creation.

 

While updating products, select the fields you do NOT want to be updated from Shopify to QuickBooks.

 

Select the fields you do not want to update from Shopify to QuickBooks. By default, all the fields are updated while syncing both these applications. In this section, you can configure the same according to your business needs.


 

The fields are:

 

  • Inventory Tracking

  • Quantity

  • Price

  • Name

  • Description

  • Taxable

 

 

While updating products, select the fields you do NOT want to be updated from QuickBooks to Shopify.

 

Select the fields you do not want to update from QuickBooks to Shopify.

 

The fields are:

 

  • Price

  • Name

  • Description

  • Taxable

  • SKU

Note: By default these fields are disabled to avoid accidental updates. Name, description and SKU fields are selected by default. These fields would not be updated from Quickbooks to Shopify. If you want any changes to these settings, contact support.


This account is useful when you are tracking Cost price of the product manually.