Pushing Inventory Data to QuickBooks

Automatically push your latest inventory data to QuickBooks using our Inventory Sync feature.

This article will guide you through how to set up and push inventory data to QuickBooks through our Inventory Sync feature.

Our Craftybase → QuickBooks integration allows you to automatically post journal entries for inventory value changes and COGS calculations, keeping your books accurate without manual data entry.

In this article:

• What is Inventory Sync?
• How Inventory Sync Works
• Configuring Inventory Sync
• Understanding the Journal Entries
• Viewing your Accounting Activity
• FAQ
• Video

What is Inventory Sync?

Inventory Sync keeps your QuickBooks accounting accurate by automatically posting journal entries for:

• Inventory Value Changes - When you add starting inventory or make adjustments
• Cost of Goods Sold (COGS) - When orders are shipped to customers
• Inventory Losses - When you record stocktake differences or write-offs

This ensures your QuickBooks Profit & Loss statement accurately reflects your true product costs, and your Balance Sheet shows the correct inventory asset value.

How Inventory Sync Works

Once enabled, Inventory Sync runs automatically in real-time. Here's what happens:

1. You work in Craftybase as normal - Record manufactures, ship orders, adjust inventory, add expenses - everything you normally do.
2. Craftybase creates journal entries automatically - When inventory-related events occur, Craftybase automatically creates journal entries in QuickBooks:
   1. Starting inventory is recorded with opening balances
   2. When orders ship, COGS is posted to match the inventory reduction
   3. Adjustments and stocktake differences are recorded as losses
3. Your QuickBooks records stay accurate - Your Inventory Asset account reflects current inventory value, your COGS account shows costs as products are sold, and your P&L accurately represents your business performance.

Configuring Inventory Sync

To set up and configure the Inventory Sync feature:

1. First, ensure you have QuickBooks connected to Craftybase

2. Navigate to your QuickBooks summary page

   Select Configure Inventory Sync

   

   Review what Inventory Sync does and select Configure Sync →

   Choose the Opening Balance Account where you want to post your starting inventory values. This is typically an Equity account (What is an Equity Account?)

   Next, you'll need to map your QuickBooks ledger accounts for your inventory transactions (What are Ledger Accounts?)

   

   1. If you need to create them first, you can do so in QuickBooks and then refresh the page
3. Review your account configurations to ensure they're correct. Once enabled, these mappings will be used for all automatic journal entries.

4. Click Enable Inventory Sync to activate the feature. From this point forward, Craftybase will automatically create journal entries for inventory activity.

   

Understanding the Journal Entries

Inventory Sync creates three types of journal entries in QuickBooks:

Starting Inventory Values

When you first enable Inventory Sync, or when you add starting inventory for items and products:

• Debit: Inventory Asset Account (increases asset value)
• Credit: Opening Balance Account (balances the equity)

Cost of Goods Sold (When Orders Ship)

When you mark an order as shipped in Craftybase:

• Debit: COGS Account (recognizes the expense)
• Credit: Inventory Asset Account (reduces inventory value)

Inventory Adjustments and Losses

When you adjust inventory or record stocktake differences:

• Debit: Losses Account (recognizes the loss)
• Credit: Inventory Asset Account (reduces inventory value)

Important Notes

• Each journal entry includes a private note with a direct link back to the source record in Craftybase
• The transaction date matches when the activity occurred in Craftybase
• All amounts are calculated automatically based on your item costs and product material costs

Viewing your Accounting Activity

The Accounting Activity page provides visibility into all records exported to QuickBooks, including Purchase Orders and Journal Entries.

How to find your Accounting Activity page

1. Go to your Integrations page (How do I find my Integrations page?)
2. Under your Integrations list, locate your QuickBooks integration
3. Select the Activity tab

Accounting Activity page

This page shows a full log of every Craftybase record that has been pushed to QuickBooks. Here, you'll notice a few columns:

• Push Date: The date and time the record was sent to QuickBooks.
• Activity: Shows the source record in Craftybase and the destination document in QuickBooks
• Amount: The total monetary value associated with the push
• Status: An icon representing the status of the push
  • Pending: The purchase has been created in Craftybase and is waiting to be pushed to QuickBooks
  • Completed: The record was successfully exported to QuickBooks.
  • Failed: An error has occurred with the push

FAQ

Can I connect to QuickBooks if I'm outside the US?

At the moment, our beta QuickBooks integration is only available for US-based customers. As the beta version doesn't yet account for the wide range of international tax rates and reporting rules, connections from outside the US aren't supported just yet.

We're planning to expand this in the future, so if you're located outside the US and interested in using QuickBooks with Craftybase, please get in touch with our support team!

Why do I need QuickBooks Plus or Advanced?

QuickBooks Simple Start and Essentials plans don't support inventory tracking or COGS calculations. These features require the Plus or Advanced subscription levels, which include the necessary chart of accounts structure and inventory capabilities.

What's the difference between Inventory Sync and Purchase Order Export?

• Inventory Sync - Automatically posts journal entries for inventory values and COGS as you work
• Purchase Order Export - Lets you push your Craftybase expenses to QuickBooks as Bills for accounts payable tracking

You can use either feature independently or use both together for complete accounting integration.

What happens if a journal entry fails?

If a journal entry fails to post to QuickBooks, it will show as "Failed" in your Accounting Activity with an error message explaining why. Common reasons include:

• QuickBooks connection expired - Reconnect your integration
• Selected account was deleted in QuickBooks - Update your account mappings

You can view failed entries from your QuickBooks summary page and take action to resolve them.

Will past inventory activity be synced?

When you first enable Inventory Sync, Craftybase will post your current starting inventory values to QuickBooks. Historical transactions prior to enabling the sync are not retroactively posted - only new activity going forward will create journal entries.

VIDEO: Pushing Inventory Data to QuickBooks

Need Help?

Still have questions about pushing Inventory Data to your QuickBooks account in Craftybase? Please get in touch, and we'll be happy to help.