Posting Income for the Vendor that represents your company

If you have a vendor setup in QuickBooks that represents your company, or any entity where you will be entering the revenue/expenses for that vendor into the same QB company that SherWare is interfacing with, then you can set that vendor up to post directly to Quickbooks. This will then post the activity for that vendor in SherWare directly to an income account in QB instead of creating a check to pay the vendor. This saves you time as you will then not have to print a check to pay yourself then manually enter it in QB. The income will post when the run is posted to QuickBooks.

IMPORTANT:
Only expenses entered on the well expenses by well window and expenses processed as fixed expenses will be able to post as income for the vendor. Expenses entered on the Enter Bills window will not respect this posting setup and will still post as a bill to QuickBooks. You will then have to pay the bill in QB which will create a check.

Setup Posted Vendor:
To setup a vendor to post you will first have to create a default Terms code of "POST". This can be done in QuickBooks under the "Customer & Vendor Profile Lists". It doesn't matter what the terms actually are, it just matters that the name is "POST". Once the "POST" terms are setup you can associate them with the vendor that should be posted as the default terms. Be sure to "synchronize the list files with QuickBooks" from the utilities menu in SherWare after this is setup.

Setup Income Accounts:
Every expense code that will be charged by a posted vendor must have an income account associated with it so that SherWare will know what QB account to post the posted vendors income to. This account will be specified in SherWare on the Expense Codes window in the "Post Operator's Income As Vendor For This Expense To QB Account" field. These expenses will not post until the run is closed and posted to QuickBooks. If an account is not specified then the expense will post to the account specified as your "Catch All Account" in the SherWare Preferences under the "QuickBooks Posting" tab.

Entering expenses from a posted vendor:
Enter any expenses from a posted vendor on the Well Expenses by Well window or on the Fixed Expenses window. Any expenses entered on a window other than these two will not use this processing to post the vendor income.

Posting:
Amounts that process on a revenue run will post when the revenue run is posted. Amounts that process on a JIB run will post when the JIB run is closed.

Unspecified Accounts:
If an account is not specified then the detail will post to the account specified as your "Catch All Account" in the SherWare Preferences under the "QuickBooks Posting" tab.