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.
We'd love to talk to you!
Schedule a meeting!
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.
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.
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!
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.
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!!!
-
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, AnytimeSync 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 OnlineMake 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 -
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…
-
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.
-
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.
-
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.
-
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 -
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 -
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 -
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:
- Z-Out
- Daily Sales
- Payments
- Tax Category Summary
Reports to run in QuickBooks Online:
- Sales by Product/Service Summary
- Transaction List by Customer
- Sales Tax Liability Report
- Profit and Loss
- Balance Sheet
-
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:
- Keep a copy of the “Old POS System” on an extra computer for reference.
- 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.
-
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