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General Ledger

ProfitSystem® allows for its Revenue Report data to be exported to a General Ledger. Each time a new Revenue Report is printed, a transaction set is created for exporting. You can re-run the Revenue Report as many times as you like, and ProfitSystem® will replace the transactions IF they have not yet been exported. Also, ProfitSystem® will only create export transactions if you run the Revenue Report for one day, NOT if you run it for multiple days. The transactions are placed in an ASCII export file. For Peachtree Accounting the file name will be GENERAL.CSV and will be created in the directory specified in your Accounting Setup. The export file accumulates all of the daily transactions until the user PURGEs (deletes) them.

Purging can be done as often as a user wishes, but at least once a year. To purge, use the Purge Menu from within System Maintenance.

The Revenue Report in ProfitSystem® has been designed to balance, like a GL debit/credit entry would have to. In some circumstances the report may not balance. To handle these situations ProfitSystem® will force the GL Export to balance by calculating the amount to make it balance and placing it in with the day's transactions with the Over/Under GL account number specified in the GL Account Setup. The user will have to manually reconcile the discrepancy and place it into the correct GL distribution.

General Ledger Exporting Procedures

Before exporting the day's GL information, you must first run a Revenue Report for the day (you would normally be doing this at the end of every business day anyway).

To export the GL data, go to Export Accounting Transactions form, located at Main->Housekeeping->Accounting Integration->Export AP/GL. This form will first display the total number of general ledger transactions it will be exporting. If satisfied check the checkbox next to the GL transactions total to proceed.

Quickbooks 2005 and later

The general ledger data is exported directly into Quickbooks.

Peachtree

The GENERAL.CSV file (for Peachtree) that is created when the GL entries are exported will have the following information from left to right: * Transaction date * Reference description * Number of Distributions for the day * GL Account number * Transaction description * Amount * Transaction Period (defaults to 20) * Transaction Number (defaults to 20)

NOTE:

This GENERAL.CSV file may be viewed or edited with any standard text editing program, such as the MS-DOS / Windows program “EDIT”.

Below is a short example of what a GENERAL.CSV file could look like:

06/13/2008,Trans from BPS,9,1500,Ttl Cost of Sales,44.16,20,20
06/13/2008,Trans from BPS,9,1400,Inventory,-44.16,20,20
06/13/2008,Trans. from BPS,9,1200,Cash deposit,101.76,20,20
06/13/2008,Trans. from BPS,9,1600,Visa/MC deposit,100.00,20,20
06/13/2008,Trans. from BPS,9,2400,New Sale Deposit,130.40,20,20
06/13/2008,Trans. from BPS,9,2400,Sales Deposit Rel.,395.00,20,20
06/13/2008,Trans. from BPS,9,2600,Sales Tax 1,-51.96,20,20
06/13/2008,Trans. from BPS,9,2500,Force Balance,-579.20,20,20
06/13/20087,Trans. from BPS,9,2000,STREET LENGTH <=$200 -Tax,-96.00,20,20

Once the transactions for day have been exported, enter your accounting program and IMPORT them. For Peachtree a GL import template should be created with the following fields checked IN THIS ORDER:

  • Date
  • Reference
  • No. of Distributions
  • G/L Account
  • Description
  • Amount
  • Transaction Period
  • Transaction number