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ambitionsupplyllc
Level 1

Quickbooks Point of Sale Financial Exchange Problem

Hello Everyone,

 

This is my first time posting on this page.  I am fairly new to Quickbooks and I have been having some problems with Financial Exchange between Quickbooks Point of Sale V19 and Quickbooks Pro Plus 2021.  When I perform a financial exchange, the taxable sales and tax amount do not always match the amounts that are transferred into Quickbooks.  They usually vary by a few pennies.  For example, today I had a transaction where I sold 5 items on a sales receipt in POS.  The subtotal was $121.50 and the 6% tax was $7.29 for a total of $128.79.  When I perform the Financial Exchange and view the sales receipt in Quickbooks, the subtotal is $121.49 and the 6% tax was $7.30 for a total of $128.79.  This is happening on almost every transaction where there a more than a couple items sold.  Has anyone else experienced this, and if so what is the resolution? 

 

I appreciate any help!

4 Comments
jamespaul
QuickBooks Team

Quickbooks Point of Sale Financial Exchange Problem

Hello, ambitionsupplyllc. 

 

I have a couple of solutions you can do to resolve the penny differences for the sales tax. 

 

You'll want to ensure you have the latest QuickBooks Point of Sale and Pro Plus updates. Doin so helps prevent issues like sales tax calculation. You can check these articles for the steps on how to update both programs: 

 

 

The penny differences can also be caused by conflicting sales tax rates. You'll want to compare and edit the tax rates in QuickBooks Desktop and Point of Sale. Here's how:

 

In QuickBooks Desktop:

 

  1. Go to Lists, then select Item List.
  2. Find the Sales Tax Item and open it.
  3. Check and edit the rates. 
  4. Click OK

 

In Point of Sale:

 

  1. From File menu, select Setup Interview.
  2. Go to the Sales Tax tab.
  3. Edit and change the tax rate. 
  4. Click Done.

 

If you need help with the sales taxes, check these articles for a reference: 

 

 

After dealing with the sales tax penny differences, do you need help running reports for your sales? This article can help you understand how to pull up the best sales report: Understand reports.

 

I'm willing to help you with anything else in both Point of Sale and QuickBooks Desktop. Just say the word below and I'll help you out. If you need help with something else with the Financial Exchange process, I'm all ears and ready to assist. 

ambitionsupplyllc
Level 1

Quickbooks Point of Sale Financial Exchange Problem

Hello,

 

I tried both solutions and Quickbooks Desktop and POS are already running the latest version, and the sales tax rate is configured a 6% in both programs.

 

Thanks.

ambitionsupplyllc
Level 1

Quickbooks Point of Sale Financial Exchange Problem

Hi,

 

Are you able to help?  I cannot figure this issue out.

 

Thanks

Catherine_B
QuickBooks Team

Quickbooks Point of Sale Financial Exchange Problem

Hello there, ambitionsupplyllc.

 

I want to direct you to our Phone Support Team who can closely look into the sales tax setup and rate discrepancies. They have the resources that can securely check your account and do a remote session. Here's how to contact them: 

 

  1. Click Help and select QuickBooks Desktop Help.
  2. Enter a brief description of your concern and then Continue.
  3. Select the best way you'll want to reach out to us.

Alternatively, you can check out this page where you can contact us outside the system: Contact QuickBooks Desktop support.

 

I'm just here to help you. You can also post again or leave a reply if you need more help. Take care!

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