Ability Financial Exchange for QuickBooks Online

Connect & Sync QuickBooks Point of Sale Desktop with QuickBooks Online

For anyone bundling QuickBooks products to power their business, one question inevitably arises: Does QuickBooks POS work with QuickBooks Online? The answer is yes, however, one drawback has long been that while they work in tandem, they don’t sync in real time. Until now.

Ability Financial Exchange is a modern business solution that connects QuickBooks Point of Sale Desktop and QuickBooks Online. This Ability Financial Exchange app gives you the best of both worlds – a fully-featured point of sale system and access to your QuickBooks Online financial dashboard anywhere, anytime! Instead of having to manually sync QuickBooks Online with the Desktop version, costing time and increasing the potential for costly errors, Ability Financial Exchange does the work for you seamlessly.

When you sync QuickBooks POS Desktop with QuickBooks Online Desktop with Ability Financial Exchange, you can run reports with real-time, up-to-date information anywhere and at any time, while employees are selling items at the retail storefront. Plus, quickly check inventory to see what’s selling, what’s not, create PO’s, and receive product in. Ability Financial Exchange will sync inventory updates to QuickBooks POS.

With Ability Financial Exchange, you’ll never again have to ask: Can QuickBooks Desktop sync with QuickBooks Online? Nor will you have to search outside the QuickBooks family of products for POS systems that integrate with QuickBooks Desktop. Instead, you’ll have an easy, effective tool that will save time and effort, increase accuracy and help power the success of your business.

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Features

Sync QuickBooks Point of Sale Desktop with QuickBooks Online in Near Real Time

Add & Receive inventory in QuickBooks Online

Make Sales in QuickBooks Point of Sale Desktop

POS Receipt syncs to QuickBooks Online

Run Reports in QuickBooks Online anytime, anywhere

Balance Work & Family

Pricing

$69 /Month

Onboarding Package

$299

Ability Service

One-time Setup Fee

Upload & Configure Items, Vendors, Customers

Testimonials

works seamlessly

This financial exchange software works seamlessly between my QuickBooks Point of Sale software and my QuickBooks Online account. I have not experienced any issues. Was a perfect fit for what I needed to operate my business.

Steven Rowley

Business Manager

ARK Lock & Security - Rexburg, Idaho

look at transactions almost real-time

I am able to look at transactions almost real-time. It allows my bookkeepers to do their work without interrupting operations. Data is stored in the cloud which diminishes risk associated with potential hardware issues.

Lee Szynkowski

Owner

The Good Feet Store - Flint, Michigan

made it possible

You guys (Ability Business) made it possible for me to use QuickBooks Online (which I knew) in my retail store without changing accounting programs or entering data twice. Also, the newest update that prompts you when you are trying to sell an item in inventory is not available is fabulous! Thank you!

Jeanne Metzger

Owner

Sagebrush Dreams Flowers & More - Tonopah, Nevada

referred a friend

I’ve been using the product for over a year and have been very satisfied. I have referred a friend has QuickBooks Desktop with QuickBooks Point of Sale at an existing location and chose to use AFE [Ability Financial Exchange] for a new location with QuickBooks Online instead of the QuickBooks Desktop product.

Lee Szynkowski

Owner

The Good Feet Store - Flint, Michigan

allowed us to funnel everything we do into ONE QuickBooks platform

WOW! It has enabled us to better focus on our E-Commerce Growth, trusting the system(s) and has proven to be a huge success! Again, there are so many moving parts that still require attention, but Ability’s product [Ability Financial Exchange] & support has allowed us to funnel everything we do into ONE QuickBooks platform [QuickBooks Online Advanced].

Our NEW system is much smoother, all cloud based and is more efficient. It has truly allowed us to be more customer-focused & growth minded in a time where being nimble & digital has never been more important!!!

Joe Neil Henderson

Owner

iOffice Delivers - Decatur, Texas

How Ability Financial Exchange works with QuickBooks Online & QuickBooks POS

Ability Financial Exchange connects QuickBooks Online and QuickBooks Point of Sale Desktop so that you can manage your day to day business activities including inventory and reordering in the cloud while making sales at your retail brick and mortar store, pop-up shop, or even in your business complex. Sync your QuickBooks Point of Sale sales receipts to QuickBooks Online with our sync tool. Sales & inventory information is synced in real-time allowing you to run true, up to date reports and enables you to make better business decisions.

Take a look at the table below to see the workflows our sync tool, Ability Financial Exchange, offers you so that you can grow your business.

QuickBooks Online	Ability Financial Exchange	QuickBooks Point of Sale
Create Items Create Purchase Orders Receive Inventory Review Profit Loss Review Balance Sheet See what you need to reorder Banking, Make Deposits Pay Bills, Receive Payments Sell with the QuickBooks Online App Access Anywhere, Anytime	Sync Inventory Sync Customer List Sync Vendor List Sync Sales Receipts to QuickBooks Online Sync Invoices to QuickBooks Online Sync Payments to QuickBooks Online Sync Vouchers to QuickBooks Online	Make Sales Create Customer Accounts Take Payment on Account Receive Inventory, Print Tags Physical Inventory Collect Sales Tax Run Reports Create Employee Logins Set Security Roles Add an Ability App

Who uses Ability Financial Exchange for QuickBooks Online

Entrepreneurs & small to mid-size businesses who manage their day to day operations using QuickBooks Online Advanced or QuickBooks Online Plus and have a point of sale retail need. Our sync tool, Ability Financial Exchange (AFE), offers the flexibility and versatile needs in today’s changing world.

Specialty Retail, Gift Shops, Markets, Non-Profits, Museums

Pool Supply, Office Supply, Pet Stores, Shoe Stores, Lock Shops

Produce/Farms, and more…
General Questions
What versions of QuickBooks Point of Sale Desktop does Ability Financial Exchange for QuickBooks Online work with?

Ability Financial Exchange works with QuickBooks Point of Sale Desktop v18 and v19.

What is included in my subscription?

Technical and basic support for Ability Financial Exchange is included in your subscription.

What is Ability Financial Exchange?

Ability Financial Exchange is a sync tool that connects QuickBooks Point of Sale Desktop and QuickBooks Online to bring you the best of both worlds – a fully featured point of sale system so that you can access your financials anytime, anywhere.

What version of QuickBooks Online do you support?

Supported
- QuickBooks Online Advanced, US version
- QuickBooks Online Plus, US version
NOT Supported
- QuickBooks Online Simple Start, US Version
- QuickBooks Online Essentials, US Version
- QuickBooks Online, All Non-US Versions
What if I have more than one (1) taxable rate?

In the AFE settings, you will select your default QuickBooks Online tax location that will correlate with your QuickBooks Point of Sale store. Ultimately, the choice you pick here will control the shipping address of receipts added to QuickBooks Online, and for QuickBooks Online files using automatic sales tax, shipping addresses are what controls who gets paid sales tax for a receipt.

Multiple tax locations are supported with certain restrictions. We encourage you to discuss complex tax needs with an Ability Team member.
Inventory Questions

Where should I create new items?

Best practice is to create new inventory items in QuickBooks Online.

What types of inventory do you support?

Ability Financial Exchange supports service, non-inventory, and inventory types. Ability Financial Exchange does not support QuickBooks Online Bundles or QuickBooks Point of Sale Assembly or Group items.

Do you support the QuickBooks Point of Sale Style Matrix?

At this time we do not.

Where should I update inventory?

Quickly update item information like price in QuickBooks Online. Remember, Ability Financial Exchange gives you the functionality to maintain inventory in QuickBooks Online, anywhere – anytime with internet access.

What if I want a staff member to create items?

In QuickBooks Online, add a new user and select the appropriate access level.

In QuickBooks Online, go to the Gear Icon -> Manage Users. Select Add User and then Standard User and the appropriate settings.

Learn more about user types and permissions in QuickBooks Online here. Check out the Add a user QuickBooks Tutorial.
Workflow Questions

How are sales transactions synced?

Currently, sales transactions are synced as a one to one correspondence.

Do Sales Orders, Work Orders, and Lay-a-ways Sync?

All three tpes of orders sync between QuickBooks Online and QuickBooks Point of Sale.

Can I update the item’s QuickBooks Options (Income, Asset, COGs) in QuickBooks Point of Sale?

At this time you cannot. Account mapping is set in QuickBooks Online.

Can I have On Account customers?

You sure can! At QuickBooks Point of Sale, just use the “On Account” payment type and an invoice will be inserted in QuickBooks Online.

Do Purchase Orders Sync?

Purchase Orders do sync between QuickBooks Online and QuickBooks Point of Sale.

Where should I receive items?

You can receive inventory in either QuickBooks Online or QuickBooks Point of Sale. Best practice, would be to develop your workflow and maintain consistency.

Keep in mind, if you complete your receiving in QuickBooks Online, the receiving history will not appear in QuickBooks Point of Sale. The quantity will be updated. If you receive in QuickBooks Point of Sale, you will have that history and a Bill will be inserted into QuickBooks Online.

What if I need to find a specific Sales Receipt in QuickBooks Online and I know the QuickBooks Point of Sale receipt number?

The QuickBooks Point of Sale receipt number is carried over to the QuickBooks Online Message displayed on statement box and the Sales Receipt no. field.

Where do my QuickBooks Point of Sale Payments go?

QuickBooks Point of Sale Cash payments sync to your Cash in Drawer account. Credit Card, Debit, and Check payments sync to your Undeposited Funds account.

What if I need to adjust quantities for an item?

Quantity adjustments can be created in QuickBooks Online or QuickBooks Point of Sale.

Item Field Mapping

What Item Fields are mapped and synced from QuickBooks Online to QuickBooks Point of Sale?

Below is a chart of the item record fields and how they are mapped.


QuickBooks Point of Sale Item Record	QuickBooks Online Item Record
Item Name (31 Characters) Required	Name
Type Inventory, Non-Inventory, Service	Type Inventory, Non-Inventory, Service
Department	Category
Item Description	Sales Information
Size (12 Characters)	Uses Purchase Description Size =
Attribute (12 Characters)	Use Purchase Description Attribute =
Reg Price	Sales price/Rate
Avg. Unit Cost	Cost
On-Hand Qty	QTY On Hand
Tax	Is Taxable Check Box In QuickBooks Online, select your Sales Tax Category and What you sell. Chat with your accountant if you need guidance.
UPC	Purchase Description UPC =
QuickPick You can assign in QuickBooks Point of Sale. Doesn’t sync to QuickBooks Online.	N/A
Vendor	Preferred Vendor
Item Number (6 digits) 1- 999,999	Purchase Description ItemNO
ALU (Alternate Lookup)	SKU
Units of Measure	Purchase Description Single: UOM[Value] Multiple UOMs: Work with #TeamAbility for guidance
Manufacturer	Purchase Description Manufacturer =
Inventory Custom Fields You can assign in QuickBooks Point of Sale. Doesn’t sync to QuickBooks Online.	N/A

Customer Field Mapping

How are the customer fields synced between QuickBooks Online and QuickBooks Point of Sale?

Customer information does sync two ways. Below is a chart of information that shows which fields are mapped.


QuickBooks Point of Sale Customer Record	QuickBooks Online Customer Record
Company	Company
Title	Title
First Name	First Name
N/A	Middle Name
Last Name	Last Name
N/A	Suffix
N/A	Display Name
N/A	Print on Check as
E-mail	Email
Phone	Phone
Mobile	Mobile
Alt. Phone	Fax
N/A	Other
N/A	Website
Syncs like this: Company Name:First Last	Is Sub Customer & Parent Customer
Street	Billing Address Line 1
Street 2	Billing Address Line 2
City	City/Town
State	State/Province
Zip	ZIP code
N/A	Country
N/A	Shipping Address
Customer Notes	Notes
N/A	Tax Info
N/A	Payment and billing
N/A	Attachments
N/A	Customer Type

Vendor Field Mapping

How are the vendor fields synced between QuickBooks Online and QuickBooks Point of Sale?

Vendor information does sync two ways. Below is a chart of information that shows which fields are mapped.


QuickBooks Point of Sale Customer Record	QuickBooks Online Customer Record
Company	Company
Title	Title
First Name	First Name
N/A	Middle Name
Last Name	Last Name
N/A	Suffix
N/A	Display Name
N/A	Print on Check as
E-mail	Email
Phone	Phone
Mobile	Mobile
Alt. Phone	Fax
N/A	Other
N/A	Website
Syncs like this: Company Name:First Last	Is Sub Customer & Parent Customer
Street	Billing Address Line 1
Street 2	Billing Address Line 2
City	City/Town
State	State/Province
Zip	ZIP code
N/A	Country
N/A	Shipping Address
Customer Notes	Notes
N/A	Tax Info
N/A	Payment and billing
N/A	Attachments
N/A	Customer Type

Reporting
Where should I create my reports?

Reports can be created in either QuickBooks Point of Sale or QuickBooks Online. One of the biggest benefits is that you can access your reports anywhere, anytime in QuickBooks Online. You can quickly check cash flow, low inventory, and your P & L report on the go.

How do I check my QuickBooks Point of Sale data against my QuickBooks Online?

Reports to run in QuickBooks Point of Sale:
1. Z-Out
2. Daily Sales
3. Payments
4. Tax Category Summary
Reports to run in QuickBooks Online:
1. Sales by Product/Service Summary
2. Transaction List by Customer
3. Sales Tax Liability Report
4. Profit and Loss
5. Balance Sheet
What can I expect if I already have a QuickBooks Point of Sale company file?
At this time, if you are currently using QuickBooks Point of Sale Desktop, you will need to create a new, blank QuickBooks Point of Sale company file that will be used with your new solution that is comprised of QuickBooks Online, QuickBooks Point of Sale Desktop, and Ability Financial Exchange.

Think of this process as if you are implementing a brand new business solution that will give you:
- Cloud access to business information
- Ability to work anywhere with internet access
- Workflow flexibility for purchasing and receiving
- Near real-time report visibility at your fingertips
- Streamline business needs with other apps for QuickBooks Online
But, what about my historical data?

Team Ability understands how important this information is. Here are our suggestions to consider:
1. Keep a copy of the “Old POS System” on an extra computer for reference.
2. Run, print or export reports.
Please Note the New POS Company File will not include historic data:
- Current Permissions & Settings
- Sales History
- Open Purchase Orders & History
- Receiving History
- Open Sales Orders & History
- Current Reward Status & History
- Current Employee List, Status & History
What about my list data?

During onboarding, Team Ability will take your current item list from QuickBooks Point of Sale and import the initial inventory list into QuickBooks Online so that it is formatted correctly. Once Ability Financial Exchange (AFE) connects QuickBooks Online and QuickBooks Point of Sale Desktop, your inventory list will sync to QuickBooks POS.

What do I need to take into consideration?

Open Balances

Work with your bookkeeper or accountant to enter customer and vendor open balances in QuickBooks Online.

Orders

Since this is a “new solution”, the following will need to be re-entered:
- Layaways
- Sales Orders
- Work Orders
Rewards

If you currently use QuickBooks Point of Sale rewards, that history will not import.

Inventory – Style Matrix

Ability Financial Exchange does not support the QuickBooks Point of Sale Style Matrix feature.

Size and attribute can be used, but the item name will need to be unique. Often, the size or attribute will be added to the item name. The item name has 31 characters to use.

Inventory – Assembly Items

Ability Financial Exchange does not support QuickBooks Point of Sale Assembly Items.

Inventory – Group Items

Ability Financial Exchange does not support QuickBooks Point of Sale Group Items.

Employee Time Tracking

Ability Financial Exchange does not support syncing time entries from QuickBooks Point of Sale to QuickBooks Online.

The QuickBooks Point of Sale time tracking feature can still be used in the product. But you will need to run time reports and enter that manually in QuickBooks Online – Payroll.

Alternatively, QuickBooks Time can be used for employee time tracking and will sync with QuickBooks Online Payroll.
What features are not supported?
QuickBooks Point of Sale Features
- Style Matrix
- Group Items
- Assembly Items
QuickBooks Online Features
- Bundle Inventory
QuickBooks Online & QuickBooks POS
- Mapping QuickBooks Online Price Rules to QuickBooks Point of Sale Price Levels
- Syncing Employee Time
- Multiple Sales Tax in QuickBooks Point of Sale
- Multiple QuickBooks Point of Sale Locations that need inventory split by store