QuickBooks Integration: Short Line Item

By Andrew

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When Revel sends information to QuickBooks, situations can arise where the invoice does not match the payment made against that invoice.

In these situations—where net sales do not match payments—Revel will create a new Other Current Asset account, which is reflected as Short Line Item in QuickBooks invoices.

This allows us to resolve the discrepancy between the invoice total and the payments recorded against that invoice.

Below is an invoice showing Short in QuickBooks:

In this example, there are more sales booked than payments applied, so the short is a negative value to decrease the invoice total.

(The intention is that, over time, sales and payments are equal. Over the course of a month, there may be long-term sales and payments not immediately applied, but over the long term, payments and sales should align.)

Below is a Revel Sales Summary Report in which net sales and payments don’t match:

($64053.58 (Accepted Payments) - 59126.15 (Total Sales) = $4927.43.)

The Short in this example would be 4927.43. This increases the Invoice Value in QuickBooks so all payments can apply to the invoice.

This can be needed when a business uses Revel's Long-Term Invoice feature. When the invoice is paid and closed, the sales are booked. This will lead to more sales booked than payments accepted, and a negative Short value.



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