Summary Posting vs Transactional Posting in Webgility Online

Summary Posting vs Transactional Posting in Webgility Online

Understand the difference between transactional versus journal entry posting.

Webgility lets you choose how you would like to post your transactions to QuickBooks. You can post every order individually as a sales receipt, or post a summary as a journal entry.

When managing financial transactions in an accounting System, choosing between Transactional Posting and Summary Posting is a critical decision. Each method offers distinct advantages based on your business's unique needs, customer segment, and order volume. In this article, we'll explore the benefits of both approaches to help you make an informed choice.

Summary Posting:

Discover features tailored for customer segments with similar and consistent needs:

1. Streamlined Approach:

   • Offers a streamlined approach suitable for routine transactions with similar attributes.

2. Simplicity for Low-Value Transactions:

   • Works well for low-value transactions where a detailed breakdown may not be necessary.

3. Quick Reporting and Processing:

   • May expedite reporting and processing for businesses with a high volume of similar transactions.

4. Basic Financial Overview:

   • Provides a general overview of financial activities, suitable for businesses with straightforward transaction types.

5. Less Detailed for Individual Customer Interactions:

   • May not capture the nuances of individual customer interactions as comprehensively as transactional posting.

6. Limited Analytical Insights:

   • Offers less granular data for analysis, potentially providing less detailed insights into customer behavior and preferences.

7. Simplified Record Keeping:

   • Streamlines record-keeping by consolidating multiple transactions into summaries, beneficial for routine operations.

Transactional Posting:

Discover features for diverse customer segments with different needs:

1. Detailed Record Keeping:

   • Essential for customers who require meticulous records for each sale and refund transaction in the Accounting system.

   • Provides a comprehensive and itemized view of financial activities.

2. Inventory Management:

   • Beneficial for managing inventory and maintaining precise records of sales information within the Accounting system.

   • Crucial for businesses with complex inventory management needs.

3. Customer Management:

   • Allows businesses to track customers and interactions, generating comprehensive sales reports.

4. Comprehensive Financial Insights:

   • Offers a more granular approach for businesses seeking comprehensive financial insights.

   • Enables specific, detailed reports tailored to individual needs.

5. Effective Budgeting:

   • Facilitates efficient tracking of revenue, expenses, and cash flow, critical for financial management and planning.

6. Better Payment Terms Negotiation:

   • Detailed records help in negotiating favorable payment terms with vendors based on historical payment patterns.

7. Enhanced Profitability Analysis:

   • Facilitates a more precise analysis of profitability by product, service, or division.

8. Easier Identification of Trends:

   • Assists in identifying financial trends and patterns for planning and forecasting.

9. Comprehensive Customer Relationship Management:

   • Aids in understanding customer purchasing behaviors and preferences.

Learn more about transactional settings here.

Where to Find Posting Method Settings

To choose your posting method, navigate to Settings> Accounting.

Note:

if you change your posting method at a later date, you will need to review your settings for the new sync method as accounts and mappings may need to be reconfigured based on the new data type being synced.