Accounting with MerchantOS
From MerchantOS Manual
This primer explains how you can use Quickbooks or manually balance your books in any other system using MerchantOS.
Contents |
[edit] Accounts And Getting The Numbers
You are going to need the accounts listed below (Or some equivalent) to balance your books with MerchantOS.
| What Are we Entering? | Account | Balance With | Where do I get the numbers? |
|---|---|---|---|
| A normal sale | Sales (+) & Sales Discounts (-) & Local Sales Tax (+) | Undeposited Funds (+) | Sales and payments balance report |
| Inventory entries for a sale | Cost of Goods Sold (+) | Inventory (-) | Sales and payments balance report |
| Credit account deposit | Accounts Receivable (+) | Undeposited Funds (+) | Deposits Report |
| Payment for a sale with a Credit Account | Sales (+) | Accounts Receivable (-) | Sales and payments balance report |
| Adding a bill | Accounts Payable (+) | Inventory (+) | PO Report |
| Layaways and Special Orders (Not Complete) | Layaway Liability (+) | Undeposited Funds (+) | Sales and payments balance report |
| Layaways and Special Orders (Complete) | Layaway Liability (-) | Sales (+) | Sales and payments balance report |
(+) is an increase and (-) is a decrease for the account.
[edit] Recording normal sales
- Press the Reports button.
- Press the link to the Sales & Payments Balance report in the Other Reports section.
- Set the search parameters at the top of the report to the appropriate date range.
- The top listing labeled Sales has the numbers needed for your books summed up at the bottom.
- Add the subtotal to your sales account
- Add the sales tax to your sales tax account
- Remove the discounts from your discounts account
- The second listing labeled Payments will have all your payments and will balance the account adjustments above.
- The sums in the Non-Layaway summed section go to your undeposited funds account.
- If any layaways were started you will see sums in the Layaway section of the Payments listing.
- The payments go to undeposited funds and are balanced with a layaway liability account.
- If any sales were completed layaways, you will see payments in the third listing labeled Payments from Completed Layaways.
- The amount from the sums in the listing is to be transfered from Layaway liabilities to sales.
[edit] Recording Inventory and Cost of Goods Sold
- Press the Reports button.
- Press the link to the Sales & Payments Balance report in the Other Reports section.
- Set the search parameters at the top of the report to the appropriate date range.
- The top listing labeled Sales has the numbers needed for your books summed up at the bottom.
- The summed row at the bottom labeled cost is your cost of goods sold. Balance this with your inventory account.
[edit] How To Export To Quickbooks
[edit] Sales Taxes
Your sales tax ledger should keep a running tally of your sales tax liability. If you are not keeping books you can get your sales tax due for any date range. This number should match your books exactly if you are correctly entering your transactions or if you are using MerchantOS Quickbooks exports.
- Press the Reports button.
- Press the Sales Lines link to access the sales lines report.
- At the top of the report, enter the date range for which you would like to report sales tax then press Search.
- Towards the bottom of the report is a summed section with a row labeled tax. This is the amount of tax you have collected for the period.
- The subtotal row in the summed section is what you should report as total sales.
- The Discounts row will be a deduction on your tax form.
- To get a list of all taxable items sold out of state (Taxable but no tax collected), in the more options search section at the top of the listing select Non-Taxed in the drop down select list labeled Tax.
