QB Accounts and Lists- Treez to QBO

Application Summary #

The Treez to QuickBooks (QB) Online Connector pulls data from Treez using their API and it creates a Daily Summary Invoice, Payments, Cost of Goods Sold Journal Entry and Vendor Bills in QB.

In regard to setup and configuration, the largest question we come across is how you want to track Income, COGS and Inventory Assets in QB. The Connector allows you to map each Product Type in Treez to a set of GL Accounts.

An example of a typical setup that we see is users will create an Income and COGS Account for each Product Type used in Treez but will have a Single Inventory Asset Account. The second most popular setup is to have a single Income, COGS and Asset Account.

The remainder of this document will provide lists of GL Accounts and Items that are needed in QB prior to configuring the Connector.

QuickBooks Setup Steps #

The following lists are what’s needed in QB. Items or Accounts that are Required will be flagged as such.

Customer #

A customer is needed in order to assign to the Invoice and Payments that get Created. The Name is the only field that needs filled in and it can be any name you would like, examples could be Dispensary Sales, Treez Sales, etc.

• Customer (Required)

GL Accounts #

Because we create an Invoice in QB, we need to have Items created but we need Accounts to assign to those items. Below is a list of the various Accounts, by Account Type, we need for the Connector. If we show a ‘sub list’ these are not the exact accounts you need, but rather examples, you’ll need to create accounts that match your data.

Bank Accounts #

The Connector will create a separate Payment transaction in QB for each Payment Method used in Treez. We need a Deposit Account for each Payment Method. You may want to put Cash into Cash on Hand and payments into Undeposited Funds, a Clearing Account, or directly into your Checking Account. The list below is not all inclusive. Create accounts for the payment methods you use in Treez.

• Deposit Account (Required)
  • Cash
  • ACH
  • Cashless ATM

Income Accounts #

Treez has features that not all users use. If the Account is not flagged as Required, you don’t need to create one. The Names of the Accounts do not have to match the exact name below. For any account not created, we will use the Sales Offset account in its place.

• Discounts Given (Required)
• Product Returns
• Sales Offset (Required) Used for variances, typically a sales tax rounding difference
• Merchant Card Fees Collected (Required) if you charge Customers a fee for paying with cards
• Rewards Redeemed (Used for Loyalty Programs run via Treez)
• Product Sales (Required) You can use a single account or you may want sub accounts per Product Category used in Blaze.
  • Beverage
  • Flower
  • Merch
  • Edible

Cost of Goods Sold Account #

You can have a single COGS Account or one Account per Product Category. We’ve also seen one account for Cannabis products and one for Non-Cannabis products.

• Cost of Goods Sold (Required) You can use a single account or you may want sub accounts per Product Category used in Treez.
  • Beverage
  • Flower
  • Merch
  • Edible
• Non-Product Offset Used if you ever have a Vendor Credit that does not include a Product. This will be used as an Offset to A/P.

Asset Accounts #

You can have a single Inventory Asset Account or you can create one per Product Category.

• Inventory Assets (Required) You can use a single account or you may want sub accounts per Product Category used in Treez.
  • Beverage
  • Flower
  • Merch
  • Edible

Liability Accounts #

When it comes to Sales Tax collected, you can create a single GL Account for all taxes or any other combination you need. For example, you might create an Account for Excise Tax and a single account for all other taxes.

• Tips Collected (Used if you allow customers to tip on electronic payments, not cash tips.)
• Sales Tax Payable (Required) You can use a single account or you may want sub accounts per Tax Type used in Blaze.
  • Excise Tax
  • City Tax
  • County Tax
  • State Tax
  • Federal Tax

Accounts Payable #

When using the Connector to create Vendor Bills in QB from completed POs in Treez we need an AP Account.

• Accounts Payable (Required)

Items #

Because we create Invoices in QB, the GL Accounts must be assigned to an item. Below is a list of needed items separated by item type. Note that some of the items are Non-Inventory and others are Service Items.

Just like the Accounts, the names of the items do not have to match the below lists. The only fields that must be populated are the Name and the Income Account.

Non-Inventory Items #

The Non-Inventory Items are only used for the Income of the Products. This means if you have a single Income Account for your Product Sales then we only need a single item. Create an item for each Product Sales account you created above.

• Product Sales (Required)
  • Beverage Sales
  • Flower Sales
  • Merch Sales
  • Edible Sales

Service Items #

Sales Tax (Required) Be sure to create one item per Account you setup above.