How to enable and configure Consolidations

This article originates from the following larger help article: How to configure the QuickBooks Online integration  Please visit this link if you have other QuickBooks Online integration questions.

To enable the Consolidation feature go to Application settings, Accounting tab, to the Consolidations section.

Notice that all existing sales sources for your Finale Inventory account will be listed with a default setting of “Do not consolidate sales.”  These sales sources come from default sources created for all Finale Inventory accounts and any Sales/Marketplace integrations you have added to your Integrations page.

Online, Phone, Email, Retailer, Other, and No sales source are default sales sources created for all Finale Inventory accounts. If you do not see the sales source for your selling channel/marketplace it is most likely due to the sales integration not being added to Finale Inventory.  When you add selling or marketplace integration to Finale Inventory’s Integration page, the sales source will automatically be created.  If you wish to create your own sales source fields, go to application settings, selling tab, and see the source section on the left. Do not add sales sources manually for any integration-based sales sources like Shopify, Amazon, Etsy, eBay, Shipstation, etc. These will be automatically added to the list when you have the integration added and connected on the Integration page.

Choose the Sales source you want to enable consolidations for and change the setting from “Do not consolidate sales” to one of the other two options:

• Consolidate sales
• Consolidate and post sales
• Do not consolidate sales

Choosing “Consolidate sales” or “Consolidate and post sales” will enable the feature for all sales for the given sales source you selected.  You will then see two more options be enabled for the frequency of the consolidations and the date on which they will begin.

The difference between Consolidate sales and Consolidate and post sales is how and when the consolidated transactions will be posted to Finale Inventory’s General Ledger and thus when they will show up in your QuickBooks Online account.  Choose Consolidate sales if you want to control when the consolidation transaction is POSTED. Finale will create the consolidation transaction in DRAFT status. It will stay in DRAFT status until you change it to POSTED. If you do not change it to posted it will never be recorded in the general ledger and it will never be synced to QuickBooks Online.

Choose Consolidate and post sales if you want Finale Inventory to automatically update the consolidation transactions from DRAFT to POSTED for you. It will do so 24 hours after the selected frequency.  This option gives you 24 hours after the previous day’s sales to review the DRAFT consolidation if you have chosen Daily for the frequency.  If you have chosen Weekly(Monday to Sunday) or Monthly as your frequency,  it will automatically post the consolidations 1 day after the consolidation period.

Once you have made all three selections, it will take 5 to 10 minutes before you will see the first Consolidation transactions show up on the Consolidation list screen.

Notice that this view can be searched, Filtered by status, Date, sales source, and other information.  There will be two transactions per frequency per sales source. One for COGS and one for Income.  If you click on the Consolidation ID it will take you to the journal entry details.

From this detail page, click on the Transaction list tab to see all the sales transactions make up this consolidation.

Click on the sale link and you will be taken to the shipment details page.

Note that can see that the sale shipment has been added to a consolidation transaction. You can click the link to go back to the consolidated transaction details. The first one is the COGS entry and the second one is the Income entry.