Using Quickbooks or other horizontal Accounting Software.
If there is a desire to use accounting software with WhirlWind Software this
software needs to be able to create your Balance Sheet and Profit and Loss with
help from WhirlWind Software system.
WhirlWind Software will track for you on your Balance Sheet the value of
Inventory, Accounts Receivables. WhirlWind Software will track for you on your
Profit and Loss your Revenue and Cost of Goods Sold.
To track your Cash Accounts you will take Customer Payments, Verify, and Create
Bank Deposits in the WhirlWind Software system. You will need to daily enter
your Bank Deposits in your other software program. We will create a report for
your sales tax liability.
To track your Account Payables you will enter Purchase Orders and create
Invoices in the WhirlWind Software. When you receive your product, this will
create a Purchase Invoice in the WhirlWind Software system. When you get a copy
of the Official Invoice from your vendor you will finalize the Purchase Invoice
in the WhirlWind Software. At this you will need to enter the value of the
Purchase Invoice on your other software.
In your other software you will enter your Expense
Invoices, Balance your Cash Accounts (Checking, Savings, etc), track Assets
(other than Inventory, Account Receivables), track Liabilities, and track
Equity.
Monthly you will need to create a General Ledger Entry to
balance your Inventory, Account Receivables, Sales Tax liability.
Daily you will need to create a General Ledger Entry to for
Bank Deposits, and Vendor Invoices.