Does iPoint have the ability to track a Warranty Fund?

Some companies utilize a Warranty Fund to deposit funds (from overages or actual charges to customers). Then, as warranty work is completed, they draw on that fund to help pay for warranty work. Here is how you would track those transactions in iPoint.
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Setup

1. Start with QuickBooks and make sure you have a Warranty Fund in your General Ledger. This is typically a Current Liability account
2. Make sure that account has been pulled into iPoint (Settings > QuickBooks)
3. Now go into the Items module and create a Warranty Fund item (You can call it whatever you want)
   1. Choose an inventory type of Other Charge
   2. Make sure the item is marked Non-Taxable
   3. Set the Income Account to Other… and then enter the exact name of the warranty fund account you set up in QuickBooks
4. Sync the item to QuickBooks
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Fund the Fund
Many companies dump cash into their Warranty Fund by doing journal entries in QuickBooks. But if you want to charge customers to fund the Warranty Fund, follow this process in iPoint.

1. On any invoice, add a line item with the Warranty Fund item you created in step 3 above
2. Enter a quantity of 1
3. Enter the price of the warranty deposit
4. Sync the invoice to QuickBooks
   1. Any payment information will push to QB, with the payment deposited into your Deposit Account
   2. The Warranty Fund GL will increase with the amount of the warranty deposit defined in step 3
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Use the Fund
When you conduct warranty work for a customer and want to use the Warranty Fund money to pay the bill, do the following:

1. Create the invoice in iPoint. It doesn’t really matter where the invoice is created.
2. Add a line on the invoice using the Warranty Fund item
3. Enter a quantity of -1
4. Enter the price of the warranty being used. This could match the invoice 100%, or it might just cover a few lines of items and labor.
5. Sync the invoice to QuickBooks
   1. The amount of the warranty used will be reduced from the Warranty Fund GL account
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Note: iPoint does not track the amount of cash an individual custom has deposited or used from the Warranty Fund. You will need to run a report in QuickBooks on the Warranty Fund to see all the transactions by customer name.

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