What is kgOPTIMIZER?
In response to some problems with the data that LightSpeed exports to QuickBooks, I’ve developed a program that modifies the data files before they get imported into QuickBooks. I’ve called the program, ‘kgOPTIMIZER’ because it ‘optimizes’ the data within the files so that it will be better received by QuickBooks.
What problems are there with LightSpeed’s export files?
Currently, there are a couple of problems with LightSpeed’s export to QuickBooks. The transactions are inefficient… customer data is missing… and PO numbers get cut off.
What does it do?
The kgOPTIMIZER solves these by ‘optimizing’ the export files before they are imported into QuickBooks. Specifically, it deals with the following three issues:
1) It Consolidates Journal Entries
LightSpeed creates multiple journal entries for every transaction: one for the sales revenue, one for each tax that you collect, one for every GL Account that is affected. The result is a big mess in QuickBooks that is hard to reconcile and search through. kgOPTIMIZER consolidates the multiple journal entries associated with an Invoice and feeds them to QuickBooks as a single journal entry. That makes QuickBooks cleaner and your bookkeeper happy.
2) It Saves Customer Data (optional)
Normally, while the customer’s name is included in the transaction, it is not used to create an A/R sub-ledger in QuickBooks. Instead, it is stuck in the memo field, customer names are ignored and everything goes into QB as ‘LightSpeed Export Customer’. kgOPTIMIZER moves the customer’s name into the proper column and QuickBooks recognizes this as a ‘Customer’ and either adds a new customer or enters the transaction into an existing account. This feature can be turned off if you don’t require it.
3) It Saves the PO Number
The PO number on every purchase gets cut off because it has been put into a field that is too short. The data is there in the export but QuickBooks can’t accept that much data in the field so it just cuts it off. kgOPTIMIZER moves it into the memo field so you can reference it if needed.
How does it help me with Multi Store?
Exporting data from LightSpeed to QuickBooks is easy! Unless you’re trying to keep a single QuickBooks file for a company that has multiple locations.
Combining data files from multiple locations in a single QuickBooks company file gives no way to separate the information when reviewing the financial reports. Sales, Inventory, Cost of Goods, etc… all pool together. Your first thought was probably to create multiple GL accounts and assign them to each store, but then you watched in horror as your account names were over-written the first time you did a product replication.
kgOPTIMIZER allows you to assign a ‘Class’ to each import so that QuickBooks recognizes the location from which the data originated. This allows you to break out location data when running your financial reports.
How does it work?
In LightSpeed, simply choose to export the QuickBooks files instead of having them go into QuickBooks automatically. Once they have been saved to your hard drive, open them up with kgOPTIMIZER and click the ‘Clean Up’ button. Instantly, you’ll see the transactions cleaned up and then you can ‘Export’ them back out to the hard drive for importing into QuickBooks. On the Mac, simply drag and drop them into QuickBooks. On the PC, Choose File -> Utilities -> Import -> IIF Files…
Step 1: Open kgOPTIMIZER – You’ll notice that the interface mimics that of a traditional ledger so the information will be easy to read.
Step 2: Import – Click the ‘Import…’ button and choose the a file that was exported from LightSpeed. Repeat this step for all the exported files. When the data is first imported, you’ll notice that invoices are often chopped up in to multiple transactions by LightSpeed.
Step 3: Clean Up – Click on the ‘Clean Up’ button and you’ll see your data transform instantly. Transactions are merged and customer data is extracted and placed in the correct spot.
Step 4: Export – Click the ‘Export’ button and save a single file with all the transactions contained within.
Step 5: Import Into QuickBooks – Finally, import the new, optimized file into QuickBooks just as you normally would. The data will be cleaner and your Customer Center will now have proper customer names instead of just ‘LightSpeed Export Customer’ if you turned on that feature.
OK, what’s the catch?
If you use the Customer Name feature, there is something you should know. Because QuickBooks relies upon the customer’s name to file the transactions into a specific Accounts Receivable Sub-Ledger, you can not change a customer’s name in LightSpeed without also changing it in QuickBooks or the link will break and the two names will appear as different Customers in QuickBooks. It also doesn’t work well with ‘walk-in’ customers, for obvious reasons. (Luckily, the customer name feature is an option in kgOPTIMIZER so you can turn it off if it doesn’t suit your needs.)
Also, you should be aware that the ‘LightSpeed Export Customer’ that currently exists in your QuickBooks file, is the combination of all open balances and credits as of the date you wish to start using the optimizer. It is recommended that you create journal entries to disperse this amount to their respective sub-ledgers so that this balance is not orphaned.
Using kgOPTIMIZER also injects an extra step in your workflow as you must export the files from LightSpeed and then push them through the optimizer before manually importing them into QuickBooks.
This program has only been tested with QuickBooks for Mac and we don’t warranty its use with other versions but as long as you can import files from LightSpeed, it should work just fine.
The software package sells for $299, please call us at 905 337-5923 to purchase, contact us by email, or ask your local LightSpeed Reseller for assistance!