QuickBooks offers a lot of versions for every kind of business owner, whether it’s a small or large scale business. Similarly, QuickBooks POS is used to manage activities on a regular basis for every organization. But often a user may face a problem due to some technical issue and their smooth-functioning often disrupted due to errors or issues that are appearing in QuickBooks. When they encounter the error then they often can see the error message. One such error is the financial exchange error on QuickBooks POS.
What is QuickBooks POS Financial Exchange Error?
Your QuickBooks Financial Exchange has the job of monitoring your financial details. When there is an exchange of data between two systems. This eliminates job pressure, and consumers of QuickBooks Point of Sale (POS) program can easily track sales activities. For the second time, you can move the data directly to your financial software without filling any details.
When approaching QuickBooks Financial software for running a “inventory report” the consumer can find an error. The error message displays that “No money in the inventory funds”.
Sign of QuickBooks POS Financial Exchange Error
There are various signs that help you to find the main reason behind the error. Here are some of the symptoms that indicate the error.
- The client can go through an error when using QuickBooks Financial Software to run a “Stock Report”
- A pop-up error message display as-” No money shown in the assets of the inventory
Reasons for QuickBooks Point of Sales (POS) Financial Exchange Error
This mistake occurs for a variety of reasons. One explanation in QuickBooks can be because of inappropriate or incorrect settings. Let’s take a look at the other explanations for this mistake:
- Accounts that are used are not aligned with the Tax Form. Tax agency vendors are not set at a form of the tax agency.
- Business preferences typically require the use of Sales Tax, but a specific type of tax form has been incorrectly set to use the business details.
- A physical shop sells products that don’t have a number, thus producing negative amounts.
- Using line element discounts on the sales receipts to establish decimal amounts.
Several of the more occurring explanations include:
- The activity Log error- Often, inside the system itself, the log file causes problems. If you are facing some problem, then check the financial “Action Log” and then go to the financial look if you are facing some other issue, the log will tell you what the issue is.
- The Mapping accounts- You need to see if your mapping accounts do have any problems. If this is the case, then check the “default mapping accounts set up in a tab” and go to the preferences, then pick the company and then click on the accounts.
In case, after performing the above steps, if the problem remains to appear again and again, then look for the transactions that are created by QuickBooks from the “Receiving vouchers”. If you’re wondering how to approach then let have a look at these given steps:
- First of all, click Purchasing
- Next, select the tab named “Receiving History”
- Then click on Voucher
- After that, click “I want to” button
- At last, click on the “reflect Financial Details” option.
Methods to fix QuickBooks POS Financial Exchange Error
However, there are various troubleshooting steps available for different versions of QuickBooks. Here are some of the relevant and easy methods to fix this POS Financial Exchange Error:
Method 1: Check the Activity log
- Initially, run the Activity log
- Next, choose the Financial Centre
- Now check out the error if you are not getting any error that indicates the error gets resolved.
Method 2: Issue in mapping accounts
- Initially, click on the File menu
- Next, go to Preferences
- After that, select Company
- Manage the accounts
- At last, Match the settings
Method 3: For QuickBooks Version 5
- First of all, operate the Point of Sale (POS)
- Next, choose Sales History
- Now, select the receipt that causing an error and click on it
- After that, select the Financial
- Click on the option “mark this document as successfully sent”
- At last, click the Ok button.
Method 4: For QuickBooks Version 6 as well as Version 10
- Search the receipt number that pops up in the error
- Select Point of sales (POS)
- Next scan the entire history
- Position and select the receipt that found in the error
- Click on the “I want to” option
- Select and click on View Financial History
- Select the Mark this document
- At last, hit the Ok button.
Method 5: If the error still not resolved then go with this method
- The very first, open the Purchasing option
- Select or click on the History tab
- Choose among the Vouchers
- Select the button named “I want to”
- At last, choose Financial Details.
QuickBooks Stands in the Finest Accounting Software list which can help you manage your business perfectly. The advanced QuickBooks features allow you to perfectly manage your financial records and needs. QuickBooks POS is the finest accounting program open to small and medium-sized businesses. It assures you that your business activities, such as sales and inventory management, work perfectly well. However, there are some issues or errors that users encounter sometimes and QuickBooks POS Financial Exchange Error is one of them. The below mentioned are some of the ways you can troubleshoot the Error. Even after following these methods, if it is not resolved then it is recommended you can get assistance from QuickBooks experts.