CoreBridge is not a replacement for your accounting software - it’s an extension that focuses on managing the Accounts Receivable (A/R) side of your financial processes. By handling Order Management and A/R activities within CoreBridge, you can ensure your customer balances, payments, and invoices stay organized and in sync with your main accounting system.
Question: How does my financial activity get to my accounting software?
Answer: After your system is live, a support agent will help you export your CoreBridge financial activity to supported accounting software.
Question: Is CoreBridge Accrual or Cash basis?
Answer: CoreBridge is Accrual Basis only. If your accounting software is set to Cash Basis, we recommend reaching out to your accountant for help on how to convert from Cash Basis to Accrual Basis.
Question: Does CoreBridge support backdating?
Answer: No. Accounting can only move forward in CoreBridge so backdating isn't available. For revenue recognition purposes, the Completed Date in CoreBridge is considered the Invoice Date. That date is set when an order is moved to Completed Status. The date cannot be set manually or changed.
Question: What’s the difference between CoreBridge roles and accounting software roles?
Answer: Your CoreBridge system is designed to handle many aspects of your business. To better understand the roles of your CoreBridge system and your accounting software, we've broken down what CoreBridge does and does not handle from an accounting perspective.
Your CoreBridge system supports:
- Accounts Receivable
- Customers & Contacts
- Invoices, Statements & Payments
- Customer-related Income, Expense, Liability and Asset Accounts
- Customer Communications & Workflow
- Reporting
- Daily Closeouts – Please review the following support article: Reconciliations - Completing, Viewing, Reporting
- Exporting data to your accounting software
Your CoreBridge system does not support:
- Accounts Payable
- Bills, Overhead, and Other Expenses
- Payroll
- Bank Deposits
- Costs of Goods Sold
Question: What are the staff responsibilities?
Answer: Since CoreBridge is a cloud-based application, you can take advantage of this flexibility by having some of your staff handle roles that may previously have been handled by your bookkeeper or accountant such as:
- Entering payments
- Posting refunds