Quickbooks Pro/Premier: Nominal Ledger

Previous Lesson: Getting Started

Introduction

You need to set up Nominal Accounts.

Linking Nominal Accounts in Quickbooks with Accounts in CommuSoft tells the software where to put the data. Without this stage, attempting to send data from CommuSoft to Quickbooks will fail, because it does not know where to send it.

Go to 'Purchasing' in the top right corner of your screen.  Then click on Setup Account.

NominalLedgerList.jpg

You will be shown a list of the default nominal accounts that CommuSoft provide you.  By default CommuSoft will provide you with an Accounts Receivable (Sales) account and a Bank account.  You can add additional Sales, Bank and Expense accounts by clicking on the + icon:

NominalLedger1.png

 

Linking Bank Accounts

Firstly we need to link our CommuSoft Bank Accounts with our Quickbooks Bank Accounts.

You need the Account ID, so that you can then add this to the corresponding account within CommuSoft.

To find the ID of the desired bank account in Quickbooks

Go to Company > Chart of Accounts.

QuickbooksCompanyChartOfAccounts.jpg

This will display a list of all of your nominal  'Accounts'.  Note, these are not numbers, these are names or descriptions.  i.e. in the below example the bank account is called Natwest.

The code for the Natwest Bank Account is therefore Natwest

Quickbooks.png

Linking Sales Accounts

We need to link our CommuSoft Sales Accounts with our Quickbooks Sales Accounts.

You need the Account ID, so that you can then add this to the corresponding account within CommuSoft.

To find the ID of the desired Sales account in Quickbooks

Go to Company > Chart of Accounts.

QuickbooksCompanyChartOfAccounts.jpg

This will display a list of all of your nominal  'Accounts'.  Note, these are not numbers, these are names or descriptions.  i.e. in the below example the Sales account is called Accounts Receivable.

The code for the Accounts Receivable is Accounts Receivable

Quickbooks1.png

Linking Expense Accounts

We need to link our CommuSoft Expense Accounts with our Quickbooks Expense Accounts.

You need the Account ID, so that you can then add this to the corresponding account within CommuSoft.

To find the ID of the desired Expense account in Quickbooks

Go to Company > Chart of Accounts.

QuickbooksCompanyChartOfAccounts.jpg

 

This will display a list of all of your nominal  'Accounts'.  Note, these are not numbers, these are names or descriptions.  i.e. in the below example the expense account is called Business Licenses and Permits.

The code for this expense account is therefore is therefore Business Licenses and Charges

Quickbooks3.png

 

Link the code to the Commusoft Account

 

Once you've got your nominal codes (or names) you will need to match these up to CommuSoft.  Click 'Edit' next to the corresponding Account, be it Bank, Sales or Expenses.

NominalLedger2.png

 

Type in the nominal code from Quickbooks, that you have just found following the above steps, into the 'Third Party Accounting Code'

 

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Click Save and that particular Account is linked with Quickbooks. 

You must do this for each of your Sales, Expenses and Bank Accounts

 

Next Lesson: Link Existing Customers

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