Besides having Income and COGS accounts, CoreBridge also has Reconciliation accounts (also known as My CoreBridge Accounts). These accounts are used in the Lump Sync process to track additional balances such as In-Store Credit and Accounts Receivable in your accounting application. This article explains each of the accounts in detail. For information about matching accounts, please review the appropriate Lump Sync Preparation article for your accounting application.


NOTE:  If you're utilizing a Full Sync, this article will not be applicable to you.



Explanation of My CoreBridge Accounts

In-Store Credit (Expense)

  • Type: Expense
  • In-Store Credit Expense is generated when in-store credit is given to a customer using the Credit Added Balance feature in CoreBridge.

  • In-Store Credit Expense will export as a one-time expense to your accounting software.

  • The expense created in your accounting application will not be relieved by a future transaction in CoreBridge. The offset to the expense will require a manual journal entry.

  • An expense is NOT created for in-store credits resulting from a voided sale, over-payment or refund.

  • Amounts posted to In-Store Credit (Expense) are offset by a matching post to In-Store Credit (Liability).

Undeposited Funds

  • Type:  Other Current Asset
  • Undeposited Funds are generated when you enter a payment in CoreBridge.
  • Undeposited Funds will export as Payments by Type to your accounting software.
  • Undeposited Funds are payments, NOT deposits.
  • CoreBridge cannot track or match your deposits.

Accounts Receivable

  • Type:  Accounts Receivable

  • Sales are generated when an order reaches a Completed status in CoreBridge.

  • Adjustments to Accounts Receivable will export to your accounting software.

  • CoreBridge follows an accrual based accounting method.

In-Store Credit (Liability)

  • Type:  Other Current Liability

  • In-Store Credit (Liability) is generated when a customer receives in-store credit in CoreBridge.

  • Adjustments to In-Store Credit Liability will export to your accounting software.

Deposits Liability

  • Type:  Other Current Liability

  • A Deposit Liability is generated when a payment is received against a non-completed order in CoreBridge.

  • Adjustments to Deposit Liability will export to your accounting software.
  • Amounts posted to Deposits Liability are offset by a matching post to Undeposited Funds.

Bad Debt

  • Type:  Expense
  • A Bad Debt Expense is generated when the Bad Debt payment type is used to write-off a completed order in CoreBridge.

  • Bad Debt Expense will export as a one-time expense to your accounting software.

  • Amounts posted to Bad Debt are offset by a matching post to Accounts Receivable.
  • Bad Debt write-offs will not reduce Income or Sales Tax amounts.
  • Only System Administrators have access to the Bad Debt payment type in CoreBridge.

Tax Liability

  • Type:  Other Current Liability
  • Tax Liability is generated when completing a taxable sale in CoreBridge.
  • Tax Liability by Tax Agency will export to your accounting software unless you choose the Lump Tax Agencies option.

  • Tax Liability can be lumped together or a specific account can be entered for each agency.

  • CoreBridge follows an accrual based accounting method, including tax liabilities.