Within Ricochet, there are 3 ways to post payouts, depending on your preferred process. All three give you the option to connect the payout with QuickBooks. This can be done with individual payouts, or bulk payouts.
- Print Checks - If you prefer to print checks directly from Ricochet as usual, you still can. There is now just one additional dialog box that appears before finalizing the payout. If you print your checks this way, you can choose to also post this payout with QuickBooks. We suggest this option because it is the most organized way to make sure that your accounting and inventory systems stay on the same page.
- Print list - If you print checks separately from Ricochet, or would just like to have a printed list of your pending payouts, this option is still available. You will not be prompted with the option to also post the payout to QuickBooks upon printing the list. If you are just printing this list for your reference, but not officially posting the payout, you can click 'cancel' and the payouts will still appear in Ricochet, ready for posting.
- QuickBooks - This option will only post the payouts directly with QuickBooks. This will remove the pending payouts from Ricochet, assuming that you will print checks through QuickBooks, or pay your vendors some other way. This is a great option if you pay your vendors with cash.
Regardless of how you pay your consignors, the key is to make sure that your payouts are getting properly posted on QuickBooks to maintain accurate accounting. Whenever you print a check, transfer cash, or some other method of payout, post that payout within Ricochet and QuickBooks.
If you make a mistake and need to reverse a payout, there is a way to recover that information in QuickBooks too.