Overview

With the Lump Sync export option, your CoreBridge financial data is exported in lump sum amounts including Sales, Payments, A/R, Taxes, Assets, Liabilities, and Sales Tax.  The amounts are exported to your accounting application as Journal Entries. Each Reconciliation in CoreBridge is used to create a Journal Entry in your accounting application. The lump sum amounts from Page 2 of each Reconciliation will be used to create individual lines on the Journal Entry.



Customer specific information is not synced. The information that syncs is purely financial in nature. Individual customers are managed in CoreBridge. Examples of records that won't exist in your accounting application:

  • Individual customers
  • Individual invoices
  • Individual payments


There are two steps to export your CoreBridge financial data to your accounting application:

  1. Perform a daily CoreBridge Reconciliation.
  2. Export the CoreBridge Reconciliation to your accounting software which will create the corresponding Journal Entry.


Example Journal Entry

When a CoreBridge Reconciliation is performed, the financial that is captured will be used to create the Journal Entry. These lump sum amounts are the numbers that get posted to individual lines on the Journal Entry. 


For this example, these transactions occurred during the CoreBridge Reconciliation Period (which should be a day)

  • Sales:  10 Completed orders from various customers totaling $5,500.00
    • Sales Tax:  Accrued $500.00 on Completed Orders
    • Check Payments:  5 checks totaling $1,075.00.
    • Deposits:  1 of the 5 checks was a $75.00 order deposit
    • Cash Payments:  2 cash payments totaling $500.00
    • A/R:  Increased by $4,000.00
    • In-Store Credit:  Gave a customer $250.00 In-Store Credit for a barter arrangement


Journal Entry:

ACCOUNT
DEBIT
CREDIT
MEMO
Acrylic Income

$2000.00

Banner Income

$500.00

Digital Signage Income

$1500.00

Vinyl Income

$1000.00

Sales Tax Payable

$500.00

Undeposited Funds
$1075.00

Checks
Undeposited Funds
$500.00

Cash
Accounts Receivable
$4000.00


In-Store Credit Expense
$250.00


In-Store Credit Liability

$250.00

Deposit Liabilities

$75.00


For additional information, review the How Lump Sync Works - QuickBooks Example article.


Supported Accounting Software

Please refer to this article: Accounting Export Options 


Reporting

  • Since the Lump Sync provides financial data, you will run financial reports in your accounting software:  Profit & Loss, Balance Sheet, etc. 
  • A/R, various sales reports, and other customer-related reports will be run in CoreBridge.