Sales Receipt Report with Quickbooks Online Export

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Overview: What are we talking about?

This article will describe how to run the Sales Receipt report to see at-a-glance sales and payment information for a day or short date range. This report was built hand-in-hand with an industry accounting professional to ensure that the data is delivered in a concise, easy-to-reconcile way, as well as to deliver an accountant-friendly report to help record sales and payment data in your accounting system.

In Gingr, the Sales Receipt report is a great way to quickly see a summary of sales-related information for a given day or date range including sales, payments received, deposits collected, accounts receivable, and more.

This is a great report to provide to your accountant or to reference when entering daily, weekly, or monthly sales data into your accounting platform.

This article includes:

Helpful Hints: Before you begin.

  • This report is limited to users that belong to a user group that possesses the Can View Financial Reports permission.
  • Definitions of common accounting terms found on this report:

    • Debit: An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet.
    • Credit: An accounting entry that may either decrease assets or increase liabilities and equity on the company's balance sheet, depending on the transaction. When using the double-entry accounting method (which the Sales Receipt report uses) there will be two recorded entries for every transaction: A credit and a debit.

    • Accounts Receivable (A/R): The amount of money owed by customers or clients to a business after goods or services have been delivered and/or used.

    • Asset: An asset is anything (tangible or intangible) that can be used to produce positive economic value for a business or individual. 
    • Liability: This is a company's liability to deliver goods and/or services at a future date after being paid in advance. This amount will be reduced (debited) in the future with an offsetting entry once the product or service is delivered.

Video: A helpful tour.

 

How to: Access and run the report.

  1. Navigate to Left-hand Navigation: Reports & More » Reports » Sales Receipt.

  2. Run the report by configuring the following report parameters to your needs:

    • Location: Select the location that you want the report to pull data for.

    • From Date: Choose a start date to see sales and payment data starting on this date.

    • To Date: Choose an end date to complete the date range.
      • Note: This report may only be generated for 1 month at a time (up to 31 days).
    • View Data By: Choose whether you'd like to see the Sales Receipt for the date range day-by-day or as an aggregate of the date range.

How to: Use the Quickbooks Online Sales Receipt Export

This report also provides an export formatted for use with Quickbooks Online (QBO). The export is formatted to be imported into QBO as a Sales Receipt, which will then provide activity directly from Gingr for use in generating GAAP reporting in QBO.

If the business is starting fresh on QBO, they will need to follow the "Configuring Quickbooks Online to Import the Sales Receipt Report" Support Article here: Configuring Quickbooks Online to Import the Sales Receipt Report  to create the appropriate Accounts and Products & Services in QBO. If your business already has infrastructure built out in QBO, you will need to review the import and ensure that you either create the accounts or adjust the current infrastructure so that it matches what is shown in the import.

Sales receipts will need to be imported to quickbooks using a third party service called SaasAnt. SaasAnt will link to your QBO account, so the only action will be to upload your Gingr Daily Sales Receipts to SaasAnt in order to get them into QBO.

How is Revenue reported on the Sales Receipt Report? 

Revenue is reported as the gross amount of all invoiced sales of reservations, services, retail, and open line items, prior to any discounts (coupons, package discounts), package credits consumed, sales tax, or tips. The Revenue for a sale is recorded when the reservation/item is checked out through the shopping cart, even if the customer does not provide a payment for that transaction until a later date.

 

Revenue can be split into different categories/accounts by using Account Codes (Revenue Report Account Codes). This feature allows you to assign codes to your reservation types, services, packages, POS items, and open line items so that you can easily view a breakdown of revenue by category/code. (Note: At this time, account codes cannot be imported to Quickbooks Online through Gingr's integration).

 

Account Code totals are already included in the Gross Revenue total. 


Packages

Package Credits Purchased credits the prepaid packages liability account.

Package Credits Purchased are listed separately from Revenue and are not calculated towards the gross Revenue or Account Code totals, so as to not double count revenue amounts.

The invoice generated for the package purchase will be linked in the Revenue and Account Code Invoices Detail breakdown, however the revenue dollar amount will only be included in the Package Credits Purchased line. 

 

Package Credits Consumed are redeemed package credits. Package Credits Consumed represent a debit to the prepaid packages liability account. The pre-tax, pre-discounted price of the invoiced line item the package credit was applied to will be counted towards Revenue and the corresponding Account Code if assigned.

Why are the Package Credits Consumed different on the Sales Receipt report compared to the Package Credits Redeemed on the Revenue by Dates report?

The Revenue by Dates report calculates Package Credits Redeemed as the net total redeemed by the package credit at the time of checkout, typically equal to the reservation type base rate that was deducted by the credit. 

Package Credits Consumed are calculated in two parts on the Sales Receipt Report:

  1. Package Credits Consumed. Calculated as Sale Price / # of Credits.
  2. Package Discount. See "Discounts" below for an explanation of Package Discounts.

Add together the Package Credits Consumed + Package Discounts to get the net total for Package Credits Redeemed to get the same total shown on the Revenue by Dates Report.

To find a breakdown of the Package Discounts, use the Export to CSV option (Not QBO Export option) > Open .zip file > Open "discounts.csv" file. Package discounts will be shown in each "Package Credits" line. Sum up the dollar amounts to find total Package Discounts to add to Package Credits Consumed.

 

How will manually comped package credits be reported?

Manually comped package credits create $0 invoices that will be reported in the following sections of the Sales Receipt report (viewable by clicking on hyperlinked dollar amounts):

  • Revenue
    • No Account Code Set or applicable Account Code if assigned
  • Package Credits Purchased
  • Invoices Opened with Payment Remaining

When redeeming a manually comped package credit:

  • The gross revenue of the line item that the package credit was applied to will be recorded in the Revenue line and Account Code line, if applicable.
  • The Package Credits Consumed line will be $0 since there was no purchase price of the package.
  • The Discounts line will reflect the entire amount redeemed by the package credit.

 

How will manually deducted package credits be reported?

Manually deducted package credits will credit the No Account Code Set account code for $0 and debit the Invoices Opened with Payment Remaining line for $0.


Discounts

Discounts reflect coupons applied at checkout and package credit discounts. Coupons factor into the Discounts section of the Sales Receipt Report on the day the coupon is applied at checkout. 

Package Discounts are the difference between the Package Credits Consumed (package sale price / # of credits) and the price of the line item the package was redeemed for. For example, if a $450 package with 10 credits is sold to a customer, the value per credit is $45. If this credit is redeemed for a $50 daycare reservation, the package discount is $5.

This $5 difference is reflected in the Discounts section of the Sales Receipt Report on the day the package credit is redeemed.

To find a breakdown of the coupons and package discounts included in Discounts, use the Export to CSV option (Not QBO Export option) > Open .zip file > Open "Discounts" CSV file. Coupons are represented by the title of the coupon. Package discounts will be split out into individual "Package Credits" lines depending on how many different types of packages have been redeemed. Sum up the dollar amounts to find total Coupon discounts and Package Discounts respectively. 

Would a negative open line item used like a “coupon” be counted in Discounts?

No, negative open line items will display under the Revenue and applicable Account Code categories. Only actual coupons and package discounts will be reported under Discounts.

 

Deposits

Deposits Collected reflect a credit in the deposits liability account. The payment method used to collect the deposit will be represented with a debit in the corresponding payment received line. Deposits paid via Integrated Credit Card processing will be paid out within the regular daily batch cycle. Gingr does not withhold deposit payments until the reservation occurs.

Refunded Deposits will be represented as a debit to the deposits liability account, and will show in the "Refunded Deposits" line on the report on the day the deposit is refunded.

Forfeited Deposits will be represented as a credit to the Revenue account and the invoice will be linked to Invoices Opened with Payment Remaining as a debit to balance. 

Consumed Deposits balance with the revenue for checkouts where a deposit was applied. Debits the deposits liability account.

Store Credit:

Store Credit Purchased is added to owner profiles on the day an invoice with a Store Credit line item charge is checked out from the shopping cart and paid in full. Credits the Store Credit liability account.

Store Credit Consumed is a payment method that is applied toward invoice balances. The Store Credit Consumed line balances with revenue for checkouts where store credit was used. Debits the Store Credit liability account. 

Prepayments: 

Prepayments Collected represents a credit to the prepayment liability account on the date the prepayment was made. Prepayments are any payments applied to invoice before checkout through the shopping cart.

Prepayments Consumed balances with the revenue for checkouts where prepayments were applied. Debits the prepayment liability account. Prepayments are consumed when the invoice is checked out through the shopping cart.

Payments:

Payments are collected at the time of check-out in the shopping cart. Each payment method in your app, as set up under Left-hand Navigation: Admin » Payment Methods, has a line for the amount received in the given time period for the given payment method.

Each Payment Method Received line represents the net payments; refunds are automatically subtracted out of net payment method totals. Payment Methods cannot be removed or omitted when running the Sales Receipt report.

Payments Made to Open Invoices:

Equivalent to "Post Payments" on the Revenue by Dates report. Payments made toward invoices with an open balance after checkout from the shopping cart. Offsets the money that was received for open invoices. Credits the accounts receivable account.

The Payment Method Received line will debit the accounts receivable account and balance out the Payments Made to Open Invoices on the day the payment is received.

The revenue for the initial checkout of these invoices will credit the accounts receivable Revenue account and debit the Invoices Opened with Payment Remaining accounts receivable account on the day the invoice was initially checked out. 

Invoices Opened with Payment Remaining 

Represents checkouts where full payment was not provided at the time of checkout. Debits the accounts receivable account. 

 

Refunds:

Refunds are reported in the "Refunds" line to show the total amount of refunds issued during the date range of the report. Includes line item refunds and payment only refunds. Calculated as the gross amount, before refunded tax. Refunded tax is subtracted from the Sales Tax net total. Refunds by Account Code are also shown on the Sales Receipt report. 

Refund amounts are automatically subtracted from the respective Payment Method Received. 

Example: An invoice is checked out with $100 Credit Card payment applied. The Sales Receipt Report will show $100 in Revenue credit line and $100 in Credit Card Received debit line.

$25 is refunded back to the client. The Sales Receipt report will show $25 in Refunds debit line and $75 in Credit Card Received debit line.

 

 

FAQ: Check this out!

Q: Who can access the report?

A: The report is limited to users that belong to a user group that possesses the Can View Financial Reports permission.

 

Q: Is this report retroactive for all previous invoices or only for invoicing going forward?

A: The report will work for invoices as far back as August 1, 2019.

 

Q: Are Account Codes imported into QBO?

A: Account Codes are not exported out of Gingr via the Export for QuickBooks Online. All Revenue is combined together and totaled in the "Payment Revenue" line on the Export for QuickBooks Online CSV.

 

Q: What do I need to do if I add an additional payment method after I have already configured my QBO export?

A: You can re-use the Chart of Accounts and Products and Services CSV files, and remove all lines except for the new payment methods. Re-import these files to QuickBooks Online to add in the additional payment method to your account.

 

Q: What if I already exported to Quickbooks Online but then had invoice adjustments made in Gingr?

A: If you've already uploaded a day's sales receipt to Quickbooks Online and then made some kind of change, you can delete that day's sales receipt from QBO and then re-import it through SaasAnt.

 

Q: How do I reconcile the Sales Receipt report to match the Revenue by Date Report?

A: Because of the journaling format of the Sales Receipt report, you will have to manually add and subtract specific revenue lines in order to get a similar style of reconciliation that the Revenue by Date report provides. 

Payment Types (Payments, Pre-Payments, Post-Payments, and Deposits) and Payment Methods (Credit Card, Cash, Check, Admin Comp, Store Credit, etc) are both included on the Sales Receipt Report. The Payment Types should not be counted, only the Payment Methods should be counted when reconciling to the Revenue by Dates Report. 

Counting the Payment Types will result in double entries and cause the reconciliation to not balance. For the sake of consistency in identifying what is a "Payment" vs a "Charge" between the Sales Receipt and the RBD, all Payment Types are listed below but greyed out and should not be counted.

 

It generally follows this format:

Charges = 

Revenue 

+ Package Credits Purchased

+ Store Credit Purchased

+ Sales Tax

+ Tips Payable

- (less) Discounts (includes coupons and package discounts)

- (less) Package Credits Consumed

- (less) Refunds

+ Invoices Opened with Payment Remaining

 

Payments = 

Deposits Collected 

- (less) Deposits Consumed

+ Prepayments Collected

-(less) Prepayments Consumed (will debit the Prepayment liability account)

+ Credit Card Received

-(less) Store Credit Consumed (will debit the Store Credit Purchased liability account)

+ Cash Received

+ Check Received 

+ ADMIN - Credit Comped Received

+ (any other payment methods) Received

+ Payments Made to Open Invoices (post-payments)

 

 

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