Setup – Part 1 of 2
Note: This is only known to work with Sage version: Business works 2015
This article will guide you through the accounting setup for a Sage export.
In order to export data from CoreBridge to your accounting application there are setup steps that must be completed. This article is part one of two. It guides you through the initial steps and directs you to part two.
If you haven't already, be sure to review the following articles.
- Sage accounting software. LINK: Accounting Export Options
- Your system must be live.
- One or more Completed orders.
- One or more payments.
- One or more Reconciliations that contain both payments and income.
STEP 1 – Select an Accounting Export Option in CoreBridge
This setting needs to match to your accounting software and desired export type.
It's possible that this has been set for you already. If the correct options are set you can move on to Step 2. If not, follow these instructions prior to moving on to Step 2.
- In CoreBridge, navigate to Accounting Module > Accounting Export.
- Select your desired Accounting Export Option using the radio buttons and drop-downs.
- Click the Save button. A warning dialogue may appear. If you've never exported financial data from CoreBridge to your accounting application before, you can safely click OK.
STEP 2 – Match Income Accounts
In order for CoreBridge to correctly export data to your accounting application, you must match accounts between CoreBridge and your accounting application.
Do I add all of the accounts from my Chart of Accounts into CoreBridge?
- No. Income and COGS accounts in CoreBridge are linked to Parts and Modifiers. If you add an account from your Chart of Accounts to CoreBridge, and the account is not associated to a Part or Modifier, no data will post to the account.
NOTE: If accounts are not correctly matched, the import may fail or data may export to an undesired account.
FRANCHISEES: If you're a franchisee, your franchisor may have locked your accounts. Support agents cannot unlock accounts. We recommend matching your accounting software to the account structure in CoreBridge. The account structure in CoreBridge has been created by your corporate office from the franchise master chart of accounts.
- Each account must have a unique name and number. Duplicate account names and numbers must be changed in your accounting application so they can be unique in CoreBridge.
- Accounts MUST MATCH EXACTLY including Name, G/L Code, Type, and Hierarchy (parent/child).
- If you use account numbers in your accounting application, matching accounts is easier when you sort by G/L Code in CoreBridge.
- If you do NOT use account numbers, matching is easier when you sort by Account Name in CoreBridge.
- In CoreBridge, navigate to Accounting Module > Manage Accounts > Income Accounts tab.
- For each account, click edit, enter the corresponding G/L Code (Account Number) (if applicable) and Account Name to match to your accounting application. Click save when finished with an account before moving on to the next one.
- Be sure that the account type in your accounting application is the same as the account being matched.
COGS accounts are not captured on the Reconciliation so they will not export.
STEP 3 – Perform a CoreBridge Reconciliation
Each Reconciliation contains the data that will be used to create the export file. Without Reconciliations there will be no data to export. The data will import as a journal entry and will contain income, payments, and other financial data needed to manage your books.
A Reconciliation should be performed at the end of each business day to capture that day's data and to catch any payment entry errors. If wrong payment amounts are captured on the Reconciliation the wrong amounts will import.
Performing Reconciliations daily produces the following results:
- Payment entry errors are caught the same day they happen so that they can be corrected in a timely manner, especially errors that are in the customer's favor.
- Credit card payments are captured for the day which is how your merchant likely batches them for a deposit. When you deposit the day's credit card payments in Sage they will match the merchant deposit on your bank statement. The only difference will be any merchant fees. You want as many matches as you can get to your bank statement so that a monthly bank reconciliation is easier to perform.
- You get a clean break between months in Sage when you compare income between QuickBooks and Sage.
This article will guide you through performing a Reconciliation: