Even if MarginEdge doesn’t integrate with your POS system, it only takes a few minutes to enter your sales and get the full value out of our software.
We will send to a form to fill out detailing the list of categories you use in your POS system. This includes credits like food and liquor, and sales and debits like tenders and discounts. We will ask you to include information that we will setup in our system.
Next, log into MarginEdge and go to Accounting > Sales Mapping. You’ll see the screen below.
General Journal Name is the name of the line from your POS system. We will fill this out based on the document you submit.
“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, and this will allow your sales entries to flow over to your accounting system because MarginEdge has instructions on where to send that data. You can have multiple rows report to the same accounting system account. 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.
“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, and budgets, etc...so the items you flag as “Food” will count in the appropriate places.). If you wish your discounts to be reported show in your net sales in MarginEdge, you will need to 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. We will fill this out based on the document you submit.
Include in Sales Reporting: This does NOT exclude this line from reporting to your accounting system! This field determines what is included/excluded in your sales calculations. How this is set in your sales mapping page will determine what you see on P&L, home screen Sales Report, sales emails, etc.... 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.
Memo: This line is for your notes (optional). They will appear in the memo field in your accounting system if memos are supported. We will fill this out based on the document you submit.
Accounting System Accruals: This optional field allows you to accrue assets or liabilities if the line’s Accounting System Account you mapped 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. This is rarely used but will need to be mapped on this screen if you would like it to use it.
Class: You will see this column if you use Classes or Locations in QuickBooks. If you don't see it, no worries! If you do, you will need to set the appropriate class for this unit. This is done in the sales mapping screen. By double-clicking this field, you can select the appropriate class or location from your QuickBooks.
Group: This allows you to report separate rows from your POS together. For example, your POS has separate rows for Visa, Mastercard, Discover, and American Express, but you likely don’t want the accounting entry to show these separately because they come in 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. We will fill this out based on the document you submit.
We will have filled out much of this information based on the document you submitted, but for each POS line, you will need to associate/map it with an Accounting in your accounting system.
To do this, double-click the accounting system account field and a drop-down menu will appear with all of the accounts from your chart of accounts. Select the corresponding account where you would like the debit/credit reported.
If you need to select class/location or accounting system accruals you can also do so from this screen. See the descriptions above for instructions.
Once you’ve entered all the categories you use in your POS, you’ll be able to enter your sales. You should not need to change this unless you add a category to your POS system, like a new discount, etc.
Once you’ve done this, you’ll be able to manually record your sales in MarginEdge.
To enter sales manually in MarginEdge go to Accounting > Sales Entries. Select “Record Sales.”
Enter the date of the sales (this date should represent the day of the sales, not the date you are entering the information). If you are entering sales on a weekly or other period, we suggest entering dates at consistent intervals, but you can only have up to one entry per day.
Enter the total amount for each category. If there are categories that have no credits or debits to report they can just be skipped.
When you have finished entering your sales, press save to record the information.
Note: Sales entries must be balanced to be saved. If your total debits do not equal your total debits you will not be able to save your sales entry.