Creating and assigning General Ledger accounts

Cloud Retailer comes with a set of default GL accounts. This is how you can create/edit them.

Creating General Ledger Accounts

The Create GL Accounts tool will automatically create the following accounts for each store location:
  • Cost
  • Deposits Received
  • Deposits Tendered
  • Return Totals
  • Sales By Department
  • Sales By No Department
  • Tender Closing Totals (by tender type)
  • Tender Opening Totals (by tender type)
  • Tender Over Totals (by tender type)
  • Tender Short Totals (by tender type)
  • Tax Totals
  • COGS
  • Not Contributing To Sales
  • Sales Rounding Error
If you create a new department or tender type, you can run this tool again to create the GL accounts.
To use this tool, navigate to Reports > Create GL Accounts and click [Create GL Accounts] button.

Assigning General Ledger Accounts

Navigate to Reports > General Ledger Assignments, here you can assign the GL description and Code.

Example:

  • Location
    Displays the location for the GL account sets.

  • Name
    This identifies the Cloud Retailer account.
    Clicking the Name link offers additional filtering options. See Advanced Filtering Options below.

  • Description
    This identifies that account type and suggests a GL type.

  • GL description
    This is what you will see in your accounting software description or note field.
    Click the field and start typing. It is imported to press the ENTER key on your keyboard to save the changes. 

  • GL code
    Click the field and start typing. It is imported to press the ENTER key on your keyboard to save the changes. 

  • GL Type
    Clicking this field will show a drop-down list Debit/Credit. Click the OK button to save changes.

  • QuickBooks Online Account Name
    This must match the Name of the GL Account under Chart of Accounts in QuickBooks Online.

  • QuickBooks Online Account Description
    This is the line item description you will see in QuickBooks Online. Typically this will be the same as the GL Description column.

Advanced Filtering Options

There may be occasions that your GL accounts do not balance. One example may be because an account is including products that do not belong.
We can exclude these products from the account by using the advanced filter.

Let's say, the Returns GL account is not balancing and we know it is because of a "not contributing to sales" product.
Since it's a "not contributing to sales" product, it does not need to be counted as a Return.

First, we will navigate to Reports > General Ledger Assignments.
  1. Locate the Tailspin Toys Returns account. (Replace Tailspin Toys with your company name).
  2. Click on the Tailspin Toys Returns link under the Name column. A new tab or window will open.
  3. Locate the "Advanced filtering" section.
  4. Add another field by clicking the [AND] button.
  5. Specify the filter type, in this example, we are using Product Description  > not equals > Not Contributing to Sales.
    Be sure to leave any previous filters intact.
  6. Click [Save] when finished.
    You may close the tab.
Changes to filters may take up to five minutes to apply.
You can preview your changes by navigating to Reports > GL Report For [Insert your accounting software name].


Keywords: GL, General Ledger, Accounting Integration, Quickbooks, Quick Books
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