Understanding the Standard Accounting Integration

Modified on Fri, 08 Oct 2021 at 12:50 PM

Overview

With the Standard Accounting Integration, we've aimed to deliver an out-of-the-box set of account mappings that should meet the most common needs for retail accounting. This article will help you better understand the command GL Mappings and their usage.


NOTE: This article assumes you are already familar with: Accounting Integration Overview



Procedure

  1. An overview of the data we gather
  2. Standard GL Mapping Query Filters


An overview of the data we gather

The Standard Account Integration focus on gathering financial data from three main areas of Cloud Retailer:

  1. Reconciled payment data, broken down by Payment Type and Location, grouped on a per-Register Shift basis
  2. Transaction sales data (revenue), broken down by Retail Category (department) and Location, grouped on a per-Register Shift basis
  3. Inventory data, including COGS, broken down by Retail Category (department) and Location


NOTE: All data gathered in the Standard Accounting Integration will always be aggregated to the Location and/or Register Shift level, helping to obfuscate any personally identifiable information.


Standard GL Mapping Query Filters

Query Filters take a Standard GL Mapping Query (defined below), refine the query with a set of filters for a specific set of needs, and allow a GL Description and GL Code to be mapped to it.   The Standard Accounting Integration provides a basic set of these filters that common most common business needs.  Each of these templates is provided per Location.  This process is explored further in Generate Standard GL Mapping Query Filters and Assign Account Details to GL Mapping Query Filters

  • Opening - PaymentMethod¹ - The amount of a Payment Method used to start the Register Shift.
  • Deposits - PaymentMethod¹ - The final, reconciled, amount of a Payment Method used during a Register Shift.  This is typically what you'd reconcile against your bank statements*.
  • Over / Short - PaymentMethod¹ - The difference between the final, reconciled, amount of each Payment Method and what mathematically should have been at the end of a Register Shift.
  • Gift Cards: Redeemed - The total value of gift cards redeemed for goods or services during the given time period.
  • Gift Cards: Purchased - The total money taken for gift cards purchased for future use during the given time period.
  • Orders: Deposit Redeemed - The total value of deposits redeemed on Orders during the given time period.
  • Orders: Deposit Collected - The total money collected in payment as a deposit on an Order during the given time period.
  • Sales: Returns - DepartmentName²- The total money returned by customers for Standard Products³ during the given time period.
  • Sales: Discounts - DepartmentName²- The total difference between the Regular Price⁴ of a Product and the price it was actually sold during the given time period.
  • Sales: Revenue - DepartmentName² - The total money generated for Standard Products³ during the given time period.
  • Sales Tax - The total money collected in Sales Tax on sales during the given time period. 
  • COGS - DepartmentName² - The total cost of the Products and services sold during the given time period.
  • Inventory: Purchase Orders - DepartmentName² - The value of Products received via a Supplier during the given time period.
  • Inventory: Transfer In - DepartmentName² - The value of Products transferred from another Location during the given time period.
  • Inventory: Transfer Out - DepartmentName² - The value of Products transferred to another Location during the given time period.
  • Inventory: Sales - DepartmentName² - The cost of the Products and services that have been sold due to sales. 
  • Inventory: Adjustments - DepartmentName² - The value of Products that where the quantity was either manually adjusted or adjusted via Inventory Count.
  • Rounding - Sales - Any value that would be rounded off while calculating sales that could potentially be material in balancing, during the given time period.
  • Rounding - Tax - Any value that would be rounded off while calculating the tax that could potentially be material in balancing, during the given time period. 
  • Rounding - COGS - Any value that would be rounded off while calculating COGS that could potentially be material in balancing, during the given time period. 


Definitions

  1. Query Filter will be duplicated for each Payment Method
  2. Query Filter will be duplicated for each Product Category
  3. Standard Products implies all Products that are not specifically configured as Not Contributing to Sales or Voucher/Gift card 
  4. Regular Price implies whatever the price of the Product would have been on the given date and transaction provided no special discount was applied.


References


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