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.
If you haven't already, be sure to review the following articles.
- Sage accounting software.
- Your Corebridge 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).
- 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:
STEP 4 – Sync Tax Agencies
In CoreBridge, navigate to Accounting Module > Accounting Export > Account Setup tab.
- Click the Sync Tax Agenciesbutton.
- This pulls in all tax agencies with non-zero rates from the Management Module so that they can be matched.
STEP 5 – Match Reconciliation Accounts
In CoreBridge, navigate to Accounting Module > Accounting Export > Account Setup tab.
- Carefully read the instructions on the page before continuing.
- OPTIONAL – Lump Tax Agencies
- If you have or expect to have more than one Tax Agency, selecting this option will generate a single line for Sales Tax on the journal entry. This option is typically selected when you remit a single payment to a tax entity.
- If you have or expect to have more than one Tax Agency, not selecting this option will allow you to match each Tax Agency in CoreBridge to a unique account in Sage. The journal entry will contain a line for each Tax Agency that had activity on the Reconciliation.
- If you only have one Tax Agency, selecting this option will provide the same result as not selecting it. The single Tax Agency will be matched to a single account in Sage.
- OPTIONAL – Ignore non-completed orders
- Selecting this option will suppress the following 3 accounts from posting to the journal entry in Sage. The accounts are still calculated on each Reconciliation but they won't appear on the journal entry.
- If you select this option to keep the journal entry cleaner, you can run reports to calculate WIP and BUILT numbers and you can also view each Reconciliation to see what the current value was at that point in time.
- WIP (Asset)
- Built (Asset)
- Orders Not Complete (Liability)
- Under My Accounting Software Accounts, for each account, click edit, enter the corresponding G/L Code (Account Number) (if applicable) and Account Name to match to Sage. Click save when finished with an account before moving on to the next one.
NOTE: Accounts MUST MATCH EXACTLY including Name, G/L Code, Type, and Hierarchy (parent/child).
- TAX accounts
- Be sure to match any tax account to a specific account in Sage.
- If you selected the Lump Tax Agencies option, the name "Lump Tax Agencies" will appear as an account name. If you don't edit that account to match to a tax account in Sage, you will need to create an account in Sage named "Lump Tax Agencies".
- If you did not select the Lump Tax Agencies option, the name of each Tax Agency will appear as an account name. If you don't edit each account to match to a tax account in Sage, you will need to create an account in Sage for each Tax Agency name displayed.
- OPTIONAL – If you want to keep your CoreBridge accounts separate from existing accounts that have data from a different system, you can create new accounts in Sage and map them to CoreBridge. This can be helpful if you are in the process of closing out a previous POS system and don't want to commingle funds in a single account.
- CB A/R (instead of Accounts Receivable)
- CB Deposits (instead of Deposits)
- CB Bad Debt (instead of Bad Debt)
For a detailed explanation of these CoreBridge Reconciliation accounts, please review the following support article: Reconciliation Account Details
STEP 6 – Downloading the CSV file from the Reconciliation in CoreBridge
To download your CSV file from CoreBridge navigate to the Accounting module and select the Reconciliation tab. Choose the reconciliation you would like to download the file for and click on it to open it. On the bottom of the reconciliation page, click the button, Download Sage File.
STEP 7 – Formatting the Import/Export template in Sage and Importing the CSV file
This must be completed for your file to import successfully into your Sage software.
In Sage navigate to File> Select Import/Export
A secondary window will appear. Select General Ledger and Import. This will give you a choice of saved templates to choose from. When creating your template for CoreBridge imports we recommend naming it CoreBridge or CoreBridge CSV. After the template is created this is the one you will choose when importing your data.
When you select import it will open another window showing fields that can be used to create new templates. For the CoreBridge template be sure to include the 6 boxes checked below in the Show column. When you select save it will allow you to name and save the template.
The Options tab is where you will choose the file to import.
Note: The box for Import Options that says First row Contains Headings must be unchecked.
Click OK to import the selected file.
The journal entries imported can be found under Lists>General Journal Entries.