QuickBooks Point of Sale is a platform that allows users to pursue “Deals” and “Stock” in a compelling and faster way. It is an efficient QB product that is ideal for small and mid-sized businesses to help them to keep track of POS activity. Point of Sale activity includes Payroll management, Cash Flow, sales, and inventory-related tasks. Point of Sale smooth-functioning is often disrupted with multiple errors or issues that encounter in QB.
QuickBooks POS Financial Exchange error is one such issue. It is mainly found when there is a syncing problem between two programs. In this blog, let’s explore the different troubleshooting to fix this error.
What is QuickBooks POS Financial Exchange Error?
The error emerges due to a syncing issue between two applications. Whenever two programs try to exchange the data; it cuts down the work pressure automatically; without entering the information for the second time you can move your data directly to your financial software. During this process, users may find an error when approaching QuickBooks Financial software to run an “Inventory report”. It displays an error message saying “No money displayed in the inventory assets”.
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Causes for QuickBooks POS Financial Exchange Error
There are multiple reasons due to which the QuickBooks POS Financial Exchange error occurs. Here are some of the most occurring reasons are jotted down:
- It can cause because of activity log error
- Issues found in the mapping of accounts
- The tax agency is not set to a type of tax agency
- Accounts used are not set up with the tax type
- Line items discounts forms decimal quantities on the sales receipt
Quick Fixation steps:
Perform different troubleshooting steps for different QuickBooks versions. The below-discussed steps also provide the solutions for the most occurring reasons like:
- The Activity Log error: Sometimes, the log files give errors within the system. If you’re facing such an issue then go to the Financial and verify “Activity Log”. Again, go back to the Financial and check whether you find any error or the log will tell you what the issues you’re facing.
- The Mapping accounts: QuickBooks POS Financial Exchange issue also arises when there are errors in the mapping accounts. In that case, you need to verify the “default mapping accounts set up in a file” >> move to the Preferences >> company >> accounts.
If the above solutions don’t resolve and the problem still occurs then look for the transactions that have generated in QuickBooks from the “Receiving Vouchers”. Let’s see how to reach there:
- Click Purchasing
- Then select the “Receiving History” tab
- After that, select Voucher
- Hit the “I want to…..” button
- Finally, click “Reflect Financial Details”.
Solutions for QuickBooks POS Financial Exchange Error
Try the below 6 solutions for the error:
Solution #1: Verify the Activity log
- Operate the Activity log
- Next, select Financial Centre
- Now, check if you’re not getting any error indicates the error is fixed
Solution #2: Announce Mapping account
- Go to the File menu >> Preferences
- Select the company and manage your accounts
- In the end, match the settings.
Solution #3: If the error still occurs then select Preferences
- Go to the Purchasing section
- Select the History tab
- Choose an appropriate among Vouchers
- Hit the option “I want to….”
- Select “Show Financial Details”.
Solution #4: Apply steps for version 5
- Browse the “Point of Sale”
- And then move to the Sales History
- Go to the Receipt and click on the same
- Click Financial and then choose the option “mark this document”
- At last, hit Ok.
Solution #5: Apply steps for version 6 and 10
- Look for the receipt number consists of error
- Select the POS and then browse Sales History
- Find and click on the receipt having an error
- Select the option “View Financial History”
- Choose the “Mark this document” followed by Ok.
Solution #6: You have other choices if the above doesn’t resolve the error
- Initially, select Purchasing >> History tab
- Click among the Vouchers
- Choose the “I need to…” button
- And finally, select the “Show Financial Details” option.
The above write-up has elaborated all possible ways to fix QuickBooks POS Financial Exchange Error. In case you find any difficulties in performing solutions then it is advisable to speak to a QuickBooks expert to get proper remedies for the queries.
How do I identify QuickBooks POS Financial Exchange error?
Ans: There is a number of indications to identify QB POS Financial Exchange error:
1. A pop-up error message display “No money on display in the inventory assets”
2. While using QuickBooks Financial application to run a “stock report” the client may end up with an error.
3. If the error occurs while using the Financial Exchange feature then it will display a message that provides information related to that. It mostly happens when you try to send receipts using the financial program.
What and all occur when Point of Sale is unable to open QuickBooks?
Ans: There are mainly 3 errors that you can encounter when POS is not able to open QB:
1. Error code 140015: Point of Sale could not establish a connection with QuickBooks
2. Error code 140014: QB POS cannot access the QuickBooks Financial software company file
3. Error code 140025: Point of Sale was not able to open the QB Financial software company file.
What is Financial Exchange in QuickBooks Desktop Point of Sale (POS)?
Ans: It is nothing but the process of transferring details between two applications. It can be done anytime or you can do it at the end of your day procedure. In QuickBooks POS, Financial Exchange impressively decreases your workload as it keeps you from entering details twice. Overall, it is a highly recommended and useful program in QuickBooks Desktop Point of Sale.