Mapping sales from POS to Accounting System
Your POS is now connected to MarginEdge and you can see sales and set up your budgets. But wouldn’t it be great if MarginEdge could post those sales into your accounting system daily and you didn’t have to sweat it? Just follow these instructions and you will be on your way.
Sales Flow to Accounting
To post daily POS sales to your accounting system automatically, you need to go into MarginEdge and for each POS line, associate/map every line from your POS to an accounting code in your accounting system. Everyone has their accounting set up differently. If you do not know how these POS items should be coded/mapped, you may need to contact your accountant regarding the best way to record this information.
MarginEdge cannot start exporting your POS data to your accounting system until you have completed this process.
Log into MarginEdge and go to Accounting > Sales Mapping
You'll see the following:
Description is the name of the line from your POS system and will be automatically populated from your POS.
Accounting System Account will start out blank. These are the accounts from your chart of accounts. By double-clicking this field, you can select an accounting code from your chart of accounts, which sets how your sales entries will flow over to your accounting system from MarginEdge. You can have multiple rows report to the same Accounting System Account.
Type will autofill as either credit or debit.
Category Type will either be blank or “Food, Beer, Wine, Liquor, NA Bev, Retail or Other.” For the rows related to sales of one of these four types, please pull down the menu and select the relevant type. (Note: this information is not actually for the accounting export. It is used in MarginEdge for your P&L, food usage, budgets, etc. – it means items you flag as “Food” will count in the appropriate places.) If you wish your discounts to be reported in your net sales in MarginEdge, you select a Category Type. If you do not wish a discount to appear in your sales reporting in MarginEdge, do not select a Category Type.
Include in Sales Reporting: This field gives you the option to include/exclude things like discounts from your sales reports you see in MarginEdge and in your sales emails. Select include for any line you wish to include, select exclude for any line you want to exclude. Anything set to “Exclude” does not require a Category Type. For net sales, include discounts and comps, for gross sales exclude them. Excluding a line only affects how your sales appear in MarginEdge reports and does NOT prevent it from reporting to your accounting system
Memo: This line is for your notes (optional). They will appear in the memo field in your accounting system if memos are supported.
Accounting System Accruals is an optional field that allows you to accrue assets or liabilities if the line’s Accounting System Account requires a vendor or a customer. For example, if you want to accrue sales tax to a vendor (“State XYZ Treasurer”), you can choose the correct AP account in Accounting System Account and then choose the Vendor here. Or, if you want to accrue a receivable, you can choose the AR account in Accounting System Account and the customer using this field.
Class: If you are using Classes in QuickBooks you will see this column and will need to set the appropriate class for this unit. If you don't see it, no worries!
Group: Although your POS has separate rows for Visa, Mastercard, Discover, and American Express, they all come into accounting as one deposit. If you put the same Group number on multiple rows, we will combine them and send them across as a single amount. You can have an unlimited number of groups (or none) - just start with a "1" for the first group, use a "2" if you have another group, and so on.
Congrats, that's it! DON’T FORGET TO SAVE.
Sending sales entries from ME to your accounting system
You can now go to Accounting > Sales Entries, where you will see daily entries. You can select any daily entry row, and go to the Edit Sales Record page to see your setup/mapping.
You can also test the entry by clicking the Print Journal Entry button on the bottom right of the page. This will show you the format of the entry when exported.
When you’re ready to send an entry to your accounting system, click on Accounting > Export. Click the checkmark on the left side of the row for any Daily Sales Entry you want to send, and then hit the green Send button on the top right. This will send it to your accounting system.
Take a look at your system, and if all is right with the world, let us know and we can set your sales to auto-send every night.
Changes to the POS
Quick note: if you make changes to your POS that don’t affect the journal entry – like adding a new beer to an existing category - you don’t need to do anything. But if you add something like a new payment account, we will not send the entry to your accounting for that day and will notify you that it needs to be set up/mapped. Once you make this tweak, the sales flow restarts.
Feel free to let us know if you would like help with this process!