Lightspeed and QBO integration
I am a small and mighty retailer who switched over from Square last year to get the nitty gritty on managing my inventory through lightspeed. I have been having a hell of a time with the SHOGO integration because it's too detailed. Here is how I need help:
1) Lightspeed is where all my inventory and major inventory is handled and managed (QBO has my inventory managed but not at the item level ) it has it's own separate Assets account for all my purchases.
2) QBO is simply handling my monies - i Do ZERO inventory management out of it. 70% of my business is vintage and one of a kind and I mix new in with the old, so I handle my vintage inventory on an average cost basis which I ajdust myself manually monthly. (it's my system and it works) I will create POs for my vintage items but keep costs at zero till end of the month. I input all the New items and branded POS, items, costs of items I order directly from vendors etc...in lightspeed with a nice ability to see total COGS for every month that I manually enter into QBO at the end of every month.
3) I need to set up my accounting integration to be SUPER HIGH LEVEL. What's happening is that I can't line up my Credit Card deposited funds to undeposited funds because the deposit is done at NET which LIGHTSPEED payments takes a cut from but there is no entry including that % cut in the deposit so it's me digging around in lightspeed and then having to manually enter it. Can some one please tell me what i'm doing wrong? Is Lightspeed going to create a simple mapping to include their payment processing fees as an expense?
4) Also the journal entries are a mess. Wreaking havoc on my QBO.
5) I've totally stopped all synchronization with Shogo and Lightspeed for the month of October and we will be doing all reporting manually into QB. As I my QBO is a mess. I had duplication of sales for the months of July and August and I now can't delete them for some reason due to "deposits associated with it"
Team at Lightspeed. Please make this easier for small businesses. I invested in Lightspeed to help me save time but it has now cost me more money and headache in working with a bookeeper and accountant to get this all fixed.
What I need:
The highest level of mapping to QBO - similar to how Square or even Shopify Maps ( I need ZERO details) just the absolute necessities for the accounting needs
Lightspeed PAYMENTS need to get mapped as an expense during deposits to better help line up deposits at the NEt level.
I do not need ANY KiND of JOURNAL ENTRIES
Please super simple, super super simple. Right now it's too complex for the size of my business and creating too much work and stress.
Please advise what I need to be doing in SHOGO to ensure I can map it. OR DO I EVEN NEED TO or want to?