This system wide Sales Default >> Deposit Payment to setting controls which account to set the Deposit to field on the Sales Receipt or Invoice (when Payment is received) (depending on the document type set in the Accounting Document to Record Sales field) in QuickBooks Online (QBO).
Note: When enabling WeIntegrate’s advanced and automated Shopify Payout processing, for the automated QBO Deposit reconciliation functionality to work correctly, you must always set the value to Undeposited Funds.
The dropdown list of available options is based entirely on details from your QBO account. As a result, weintegrate is unable to preset this value, the field is indicated with a beige background, and it is required that you manually select your preference in order to proceed.
When Sales Receipt is the document type that will be created in QBO
If for the Accounting Document to Record Sales dropdown was set to Sales Receipt then a Sales Receipt will be created in QBO and when you examine these Sales Receipts created by weintegrate in QBO you’ll see the Deposit to contain the account you specified.
When Invoice is the document type that will be created in QBO
If for the Accounting Document to Record Sales dropdown was set to Invoice then an Invoice will be created in QBO. When the Shopify order financial status is Paid or changes to Paid (if it started out as i.e. Net 30), then a Payment document will be created in QBO automatically by weintegrate and it is associated to the Invoice. When you examine the Payment documents created in by weintegrate in QBO you’ll see the Deposit to contain the account you specified.
Accessing these settings after the initial wizard
After you’ve completed the wizard, to access the system wide Sales Default settings:
- Click on the gear icon on the top right
- From the dropdown, click on Preferences
- Click on Sales Defaults
Next, Learn about Who assigns the transaction number
Click here to learn about setting the Who assigns the transaction number default for integrating with QuickBooks Online.