Summary: ServiceBox has unveiled an exciting new feature that empowers its customers with greater control over their accounting processes. Users can now set specific deposit accounts for payments received on invoices within ServiceBox, and have them seamlessly reflected in QuickBooks Desktop. In this article, we'll explore how this feature works and the benefits it brings to users.
ServiceBox's latest enhancement comes as a response to customer feedback and the growing need for greater customization in accounting procedures. Previously, the platform automatically used a default deposit account in QuickBooks Desktop to reflect payments received. However businesses often have varied preferences for how different payment methods should be accounted for.
How Does It Work?
With the new feature in place, customers can now open their Connector program – the ServiceBox accounting program that sits on their desktop – and click the 'Setup' button. Within the Settings menu, they'll find the 'Deposit Accounts' tab, which allows them to set specific deposit accounts for each payment method.
1. Navigate to the Deposits Accounts Tab: To set up the custom deposit accounts, users need to click on the 'Set' button located in the top right corner of the Connector program. Once the 'Settings' open up, they can go to the 'Define Account' tab.
2. Defining Deposit Accounts: In the 'Deposit Account' tab, users will see two boxes. On the left is the list of payment methods they have defined or set up in ServiceBox. This list typically includes cash, check, credit card, e-transfer, and more. On the right side, they will find the list of deposit accounts they have in QuickBooks Desktop.
3.Linking Accounts: To customize the accounting process for each payment method, users simply need to click on a payment method on the left and then link it to the desired account on the right. This association ensures that when an invoice syncs over to QuickBooks Desktop, the payment method, as well as the designated deposit account, will be accurately reflected.
4. Final Steps: Once all the settings are in place, users can save their changes and proceed with the sync. The invoice, along with the designated payment method and deposit account, will be accurately recorded in QuickBooks Desktop.
Benefits of the New Feature:
This new feature offers several advantages to ServiceBox users:
1. Flexibility: Businesses can now tailor their accounting processes to suit their specific needs. Different payment methods can be associated with appropriate accounts, ensuring accurate financial tracking.
2. Streamlined Syncing: The seamless integration between ServiceBox and QuickBooks Desktop means that users no longer need to manually update deposit accounts for different payment methods. This automation saves time and reduces the risk of errors.
3. Enhanced Accuracy: By eliminating the reliance on default deposit accounts, the risk of misallocating funds is significantly reduced, leading to more accurate financial reporting.
4. Better Financial Insights: With transactions accurately allocated to their respective accounts, businesses gain deeper insights into their financial health, enabling informed decision-making.
Conclusion:
ServiceBox's introduction of the new feature for setting specific deposit accounts in QuickBooks Desktop marks a significant step forward for businesses seeking greater control and customization in their accounting processes. As ServiceBox continues to evolve with customer feedback and innovative additions, businesses can look forward to even more powerful tools to enhance their operations and drive success.
*If you have any further questions or need assistance, feel free to reach out to our dedicated support team at support@jobboxsoft.com. Thank you for choosing ServiceBox!*