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TMPTWE2
May 8, 2024
Question

Product Cost & Sales Price Opencart

  • May 8, 2024
  • 1 reply
  • 0 views

Hi,

 

Currently all my products are automatically synced from Opencart to Quickbooks via the integration provided by Quickbooks.

 

I have 2 questions:

 

1) Do i have to edit each products cost manually so that the profit reports will be accurate?

2) The product sale price that's currently being imported is wrong as its taking the price from our "Discount" tab instead of Price from "Data" tab. Is this an issue i need to address or i can ignore? Will the final profit still be calculated from how much the products was sold from the sale receipt (which is also auto created on Quickbooks when a order is placed on my website).

1 reply

G
GlinetteC
May 8, 2024

I can discuss with you how integration works with QuickBooks Online and offer assistance to address the issue, TMPTWE2.

 

QuickBooks relies on the data transmitted from OpenCart for accurate integration and reporting. Since the product sales price being imported from your third-party provider to QuickBooks is incorrect and should be imported from the "Data" tab rather than the "Discount" tab, It'd best to contact OpenCart support to review and modify the integration settings or mappings.

 

For more accurate profit calculations, you can manually update the cost of each product in QuickBooks Online. Also, ensure the inventory has the correct sales prices for each product, as the system relies on the recorded price to generate reports.

 

In addition, you can check these resources to learn more about how sales price and cost work in QuickBooks Online:

 

 

Further, check this article that provides information on running basic reports: Run reports in QuickBooks Online.  These reports give you a comprehensive view of your financial data, allowing you to analyze your business's performance over time.

 

If you require further assistance managing integration or related matters, don't hesitate to reply to this thread. I am here to support you at any time.

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