We know that managing your Accounts Payable is one of the most tedious tasks you have on your plate. You have a lot of transactions taking place at once and you can not make a mistake with any of your accounts that end up in a bounced check. If you do, then you end up being listed as a delinquent and then it becomes ten times more of a hassle to get anything done when it comes to making your orders. Cobalt Connect is all about making your life easier so we recently had some updates so the system is catering even more to your needs as a liquor store owner.
First, you will need to connect your Quickbooks to the Cobalt Connect System, you can do that in the Profile Module of your navigation bar. Make sure you have the latest version of Quickbooks Web Connector. There will be step by step instructions on this page and if you need a more throughout explanation you can use the copy of the Cobalt Connect Users Manual you should have received. You should always have the QuickBooks and QuickBooks Web Connector open so you can have a real-time update while you are working on your accounts in CobaltConnect.
Once your Quickbooks account is set up with Cobalt Connect your setup instructions will disappear and you will now see the button Map Chart of Accounts. Go ahead and click into it. This will bring you into the Map Chart of Accounts to Distributors page.
Now all you have to do it play a little matching game. In the QB Distributor’s column select the correct Distributor name to the one listed to the left. If you are not currently using that distributor leave the dropdown on Select Vendor. In the right column, you will need to select the banking account you want to be used when paying for balances on that account. Once you are finished, select Submit. The page will let you know when the mapping saved correctly and you will be given the option to go to the Accounts Payable section by clicking Let’s Go. You can also enter the Accounts Payable Module by selecting the calculator icon in your Navigation Dashboard. All the information for the Mapping can be changed at any time so if you’d like to change the bank account information for a distributor you have that option.
Once in the Accounts Payable page, you will see a breakdown of all your distributor accounts. Manage the account by clicking into it. The Cobalt Connects payment section is as simple as it could be for your convenience.
The set up for the payment page was inspired by Quickbooks set up to help the business run smoothly when you are using the Cobalt Connect System. You will need to enter the Check No. and make sure it is an exact match to your physical check. Select the boxes next to the amounts you would like to pay off in the Payments Due section, it will fill into the check automatically. If you have any credits you would like to use for the payment, check any of the boxes in the Credits section and it will remove the amount to the total. The Vendor PO Numbers for the credit and the purchase order will be listed in the Memo section of the check so your distributor is aware of which orders you are paying off and which credits are being used.
When you are satisfied with your check click Send To Quickbooks, or if you need to continue at a later time you can select Save Draft & Close. Once you send it to Quickbooks you will see a notification in the right-hand corner that will notify you that your check has been properly sent out and saved. The system will then bring you back to the main Accounts Payable page. If you click back into the distributors account you will see the paid sum in the General Ledger section at the bottom of the page. Cobalt Connect sends daily sales totals from the pos system to Quickbooks automatically so it will always be up to date.