Accounting Basis Reconciliation Report

This report is designed for the legacy Accounting Link integration (and not for cloud-based Xero and MYOB Integrations). Please refer to the Accounting Integration Overview article for details on supported integrations.

The Accounting Basis Reconciliation report is used to reconcile the following transactions according to the Import method chosen in the Accounting Import Solution:

• Sales
• Freight Income
• Voucher Sales
• Tax
• Buy Ex
• Direct Costs

Tip: Review your selected Import Method in the Account Import Solution via Preferences > Accounting Method

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Before you begin

The Filters you will need to use will be dependent upon the settings in your Accounting Link. 

1. Open Accounting Link
2. Click the Preferences tab
3. Click the Accounting Basis tab
4. Check with method has been selected for Sales e.g. Standard Accrual Basis

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Use the Accounting Basis Reconciliation Report

To use the Accounting Basis Reconciliation Report:

1. Navigate to Reports > Accounting Reports > Accounting Basis Reconciliation Report
   
2. Update the Filters as required (see below)
3. Click Search
4. The Results will be displayed

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Filters

Fulfilled Cash Basis	The date range filter will apply results of transactions whereby the following criteria has been met: The sale was both paid in full and fulfiled during the chosen date range The sale was fulfilled during the date range and had been previously paid in full in a period prior to the chosen date range The sale was paid in full during the date range and had previously been fulfiled in a period prior to the chosen date range (this would only apply where the sales order was for an account customer)
Fulfilled Accrual Basis	The date range filter will apply results of transactions whereby the sale was fulfilled during the date range (irrespective of payment) excluding laybys. Laybys are not recognised in the accounting package until the layby has been paid in full, regardless of fulfilment
Standard Cash Basis	The date range filter will apply results of transactions whereby the following criteria has been met: The sale was paid in Full during the date range, irrespective of fulfilment. Cash Sales are recorded on the date of payment, laybys are recorded as a sale on the date the final payment is made. Account customer sales are recorded as per invoice date once final payment has been received The sale was an account customer sale and had a payment during the date range regardless of paid in full or fulfilled dates. These payments remain in the deposits held liability in the balance sheet until such time as the sale is paid in full. At this time the sale will be recorded as per the date the final payment was received.
Standard Accrual Basis	The date range filter will apply results of transactions where all sales (including account customer sales) were created, excluding unpaid Laybys created, or laybys paid in full within the date range

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Reconciling the Report

The results from this Report can be reconciled in the accounting packages using the Profit and Loss Report for the same date range chosen on the Retail Express report.

The P&L totals for Sales, COGS and freight should balance as long as those General Ledger accounts have not been used for anything other than imported transactions. If the accounts contain other transactions, you can export the below reports from Xero/MYOB into Excel and reconcile the report by deleting the transactions not created by Accounting Link.

For information on how to reconcile the GST, select your Accounting Package below:

• MYOB
• Xero

MYOB

1. Navigate to Reports>All Reports>Accounts>General Ledger (Detail)
2. Choose GST Collected General ledger code

Xero

1. Navigate to Reports>All Reports>Account Transactions
2. Choose GST

Note: It may be necessary to export these reports to excel in order to exclude any transactions that have not been created by the Accounting Link. Alternatively, a new set of GST codes can be created in the accounting package that is solely used for imported transactions.

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