Journal Entry Export Process
The Journal Entry Export process is used to communicate the transactions (invoices, payments, receipts & refunds) to your Accounting System. Below are three different sections on how this process is done using each of the different Processes
Exporting to Quickbooks Desktop
ChamberMaster/MemberZone will be the place for viewing and reprinting member transactions. QuickBooks is just recording a journal entry and doesn’t actually contain the invoice or payment.
Getting Started/Required Setup
Check Chart of Accounts
Before performing any exports, you will want to double-check your Chart of Accounts.
- In ChamberMaster/MemberZone, click Setup in the left-hand menu
- Under Billing click on Chart of Accounts.
- Compare this list with your Chart of Accounts in your Accounting Program
- Make sure your Chart of Accounts in CM/MZ matches either the exact names or numbers given to your Chart of Accounts in Quickbooks. These need to be exactly the same. *NOTE – if using name, sub accounts may be identified by placing a colon after the main category name and before the subcategory name. Example - Events:Luncheon
Check Transaction Classes (If applicable)
If using classes in Quickbooks, make sure CM/MZ has matching Transaction Classes Created. The Class name should match exactly the Class Name in Quickbooks.
See Create Transaction Classes for more information.
Check Fee Items
Make sure your Fee Items setup in CM/MZ are assigned to the correct Account
- Click Setup in the left-hand menu
- Under Billing click Fee Items List
- Click on each Fee Item Name and verify that the Income Account listed is correct (it should match the name of an account in Quickbooks)
*NOTE – never assign a Fee Item to Accounts Receivable. It must be assigned to an Income Account. If you are unsure of which income account to use check with an accountant.
Check Sales Tax Items
If charging Sales Tax, make sure that each tax item is also assigned to a matching account.
- Click Setup in the left-hand menu
- Under Billing click on Sales Tax
- Click Manage Tax Items at the bottom of the window
- Click on each Sales Tax Item and verify that the Tax Account listed is correct.
Check Customer Names
Check your Quickbooks customer names. Customers who exist in your CM/MZ database (under Company Name), but not in your Quickbooks company file must be added to Quickbooks exactly as they appear in your database.
For customer names you already have in QuickBooks, you will want to ensure that the QuickBooks Customer Name matches the Company Name in ChamberMaster. These two fields are the comparison fields used for making sure the transaction goes on the correct customer record. If there are any differences in spelling or punctuation, the import will fail.
Compare these two lists by viewing the QuickBooks Customer Contact List under Reports with a Custom Report in ChamberMaster where you might only need to select the Company Name. Fix any discrepancies between the two customer lists
Testing It Out
It’s always a good idea to test out sample transactions before importing a large number of entries. So before any other transactions are created for the day*, go into the Billing module and create a couple of sample entries.
Exporting Sample Entries
- Create an individual invoice, a payment for that invoice, and a sales receipt in the Billing Module
- Make sure to choose a member that exists in your Member database and also as a Quickbooks Customer. The Quickbooks Customer name needs to match the Member database name exactly – letter by letter.
- Remember the transactions you create, because you will delete them when you are done testing.
- In Billing go to the Reports Tab. Under Executive click on either Journal Entry Export – Accrual Basis or Journal Entry Export – Cash Basis
- Accrual Basis – will display ALL possible transactions that match the selected filter options.
- Cash Basis – will display ONLY Payments and Receipts that match the selected filter options.
- You should see your transactions. If not, click the Refresh Button.
- Note the Account Names that are being referenced. These are the general journal entries that will be made in your accounting software.
- For the Format Option select Quickbooks IFF
- If needed, deselect any transactions that are not part of your sample entries.
- Click Export
- If prompted, save the file to a location you will remember.
Importing Sample Entries
You must be logged into Quickbooks as an Admin and using single-user mode
- Open Quickbooks
- Select File, Utilities, Import, IIF Files
- Locate the saved export and select.
- Your import will take place
Viewing Sample Entries
- Look at the general journal entries that were created in Quickbooks by clicking Company, Make General Journal Entries.
- Click Previous to view the imported entries
- View the customer that were affected by going to the Customer Center. You can see the entry by the associated invoice #, sales receipt #, or payment reference #
- The payments will display in the Quickbooks Deposits (unless you created a deposit in CM/MZ and included that in the export)
- If viewing an Open Invoices report in Quickbooks, the general journal payments will not directly be applied to the open invoice amount. If you will be relying on the Quickbooks open invoice report in addition to the CM/MZ Open Invoices report, make sure to apply the general journal entry payments to the appropriate customer open balance amount (invoice or general journal entry amount)
Removing Sample Entries
If desired, double check any reports and accounts to see how they are affected by these journal entries. Now that you’ve seen how it works, go ahead and delete each of the 3 general journal entries.
- In Quickbooks, select Company, Make General Journal Entries.
- Click Previous to return to your sample entry.
- Select Delete General Journal Entry from the Edit menu.
- Do this for each of your sample entries.
- The transactions are now cleared from your journal, the customer account, and your deposits screen.
- Log into CM/MZ and delete the sample payment, invoice, and sales receipt.
- You should be ready to export now on a regular basis
Exporting
Exporting should typically be done for the previous day(s) – not the current day. This will ensure that all transactions are included for the date or date range specified.
- Run a Member Update Activity report to reconcile any name changes (compare this report to your Quickbooks to make sure company names have not been changed and they match customer names)
- Go to Reports on the left hand side.
- In the Report Finder type in the search box “Update”.
- Click on the Member Record Updates Report on the right.
- Click Billing in the left hand menu.
- Click on the Reports Tab.
- Under Executive click on either Journal Entry Export – Accrual Basis or Journal Entry Export Cash Basis
- Accrual Basis – will display ALL possible transactions that match the selected filter options.
- Cash Basis – will display ONLY Payments and Receipts that match the selected filter options.
- Specify the proper date (or date range) and click Refresh Report
- Make any desired filter option selections.
- Deposit Options:
- Exclude Deposit Transactions: If you received funds into Undeposited Funds, and then made a deposit in CM/MZ, select Exclude Deposit Transactions if you want to perform the deposit in QuickBooks. Your payments and receipts will then display in the QuickBooks Banking, Make Deposits menu so you can create a lump sum deposit in QuickBooks and include other monies as well, if desired.
- Show Deposit Transactions Individually: If you received funds into Undeposited Funds, and then made a deposit in CM/MZ, select Show Deposit Transactions Individually if you want this deposit brought through to QuickBooks. Your total deposit amount will be posted as a journal entry on your bank account in QuickBooks. *note - Follow-up in QuickBooks by clearing out the “in and out” transactions in the deposits screen. Select Banking, Make Deposits and create a $0.00 deposit that includes both the positive payment amount and the negative deposit amount displayed.
- Route Directly to Deposit Accounts: If you received funds into Undeposited Funds, and then made a deposit in CM/MZ, select Route Directly to Deposit Accounts if you’d like to bypass the Undeposited Funds account and deposit directly in your bank account in QuickBooks. You will not be able to perform a deposit in QuickBooks, instead the individual payment amounts will be posted as a journal entry on your bank account in QuickBooks and on the appropriate customer account in Accounts Receivable.
- Deposit Options:
- To ensure you don’t export a transaction multiple times, make sure the check box “Save Export Batch” is selected.
- Browse the transactions for any missing account assignments or anything unusual. If any transaction does not look right do not import until the transactions has been corrected in the billing module.
- For the Format Option select Quickbooks IFF
- Click Export
- Save the file to a location you will remember.
Importing
- Login in to Quickbooks as an Administrator and make sure you are in Single-User Mode.
- Quickbooks Administrator – person who sets up the company file and assigns passwords/access privileges to other users. If there is an Administrator setup, it appears in the User List as either Admin or User Name (admin). To view your user list go to Company Menu, click Set Up Users and Passwords, then click Set Up Users.
- Single-User Mode – Quickbooks must be in single-user mode in order to import. To place Quickbooks in single-user mode, if others are working with the company file, as them to either close the file or exit Quickbooks. Then go to File and click Switch to Single-User Mode.
- Select File, Utilities, Import, IIF Files
- Locate the saved export and select.
- Your Import will take place
- View Imported Journal Entries by selecting Company, Make General Journal Entries.
Open invoices still showing? Apply Payments in Open Amounts in Quickbooks
When you first run your Journal Entry Exports for the first few months you will need to apply the payments to the correct invoices in Quickbooks in order for the invoices to not show as open anymore. Customer and Receivable reports would typically be viewed in ChamberMaster/MemberZone. However, if you desire to also view these reports using QuickBooks, you may want to apply payments to the open amounts in QuickBooks.
General journal payments posted on the customer account will properly decrease the customer balance. However, the payment is not applied against any particular invoice (open amount) since it is general journal entry; it will still show an open amount in QuickBooks.
Here is one example of how to apply the payment against an open amount:
- In Quickbooks, select Customer, Receive Payments
- Select the desired customer in the Received From drop down list
- A list of “outstanding” invoices will display. Click the invoice that should have the payment applied.
- Click Discount & Credits button.
- Click the Credits tab (If applicable)
- Make sure the desired “credit” (your payment from the import) is selected.
- Click Done.
- Click Save & Close.
Quickbooks Online
ChamberMaster/MemberZone will be the place for viewing and reprinting member transactions. QuickBooks is just recording a journal entry and doesn’t actually contain the invoice or payment.
For details on Quickbooks online see QuickBooks Online Import
Peachtree
Getting Started
Check Chart of Accounts
Before performing any exports, you will want to double-check your Chart of Accounts.
- In ChamberMaster/MemberZone, click Setup in the left-hand menu
- Under Billing click on Chart of Accounts.
- Compare this list with your Chart of Accounts in your Accounting Program
- Make sure your Chart of Accounts in CM/MZ matches the exact Account ID given to your Chart of Accounts in Peachtree.
Check Fee Items
Make sure your Fee Items setup in CM/MZ are assigned to the correct Account
- Click Setup in the left-hand menu
- Click Fee Items List
- Click on each Fee Item Name and verify that the Income Account listed is correct (it should match the name of an account in Peachtree)
- NOTE – never assign a Fee Item to Accounts Receivable. It must be assigned to an Income Account. If you are unsure of which income account to use check with an accountant.
Check Sales Tax Items
If charging Sales Tax, make sure that each tax item is also assigned to a matching account.
- Click Setup in the left-hand menu
- Under Billing click on Sales Tax
- Click Manage Tax Items at the bottom of the window
- Click on each Sales Tax Item and verify that the Tax Account listed is correct.
Testing It Out
It’s always a good idea to test out sample transactions before importing a large number of entries. So before any other transactions are created for the day*, go into the Billing module and create a couple of sample entries.
Exporting Sample Entries
- Create an individual invoice, a payment for that invoice, and a sales receipt in the Billing Module
- Remember the transactions you create, because you will delete them when you are done testing.
- In Billing go to the Reports Tab. Under Executive click on either Journal Entry Export – Accrual Basis or Journal Entry Export – Cash Basis
- Accrual Basis – will display ALL possible transactions that match the selected filter options.
- Cash Basis – will display ONLY Payments and Receipts that match the selected filter options.
- You should see your transactions. If not, click the Refresh Button.
- Note the Account IDs that are being referenced. These are the general journal entries that will be made in your accounting software.
- Select Peachtree CSV
- If needed, deselect any transactions that are not part of your sample entries.
- Click Export
- If prompted, save the file to a location you will remember.
Importing Sample Entries
- Open Peachtree
- Select File, Import/Export
- Click General Ledger, General Journal
- Click Import.
- Choose the following fields: Date, Reference, Number of Distributions, G/L Account, Description, Amount.
- From the Options tab Browse to find the file that needs to be imported and place a check by First Row Contains Headings.
- View the imported Journal Entries by going to Reports & Forms, General Ledger, General Journal.
- Delete these sample entries on the report Opened in #3 above
- You should be ready to export now on a regular basis.
Exporting
Exporting should typically be done for the previous day(s) – not the current day. This will ensure that all transactions are included for the date or date range specified.
- Click Billing in the left hand menu.
- Click on the Reports Tab.
- Under Executive click on either Journal Entry Export – Accrual Basis or Journal Entry Export Cash Basis
- Accrual Basis – will display ALL possible transactions that match the selected filter options.
- Cash Basis – will display ONLY Payments and Receipts that match the selected filter options.
- Specify the proper date (or date range) and click Refresh Report
- Make any desired filter option selections.
- To ensure you don’t export a transaction multiple times, make sure the check box “Save Export Batch” is selected.
- Browse the transactions for any missing account assignments or anything unusual. If any transaction does not look right do not import until the transactions has been corrected in the billing module.
- From the Format dropdown select Peachtree (CSV)
- Click Export
- Save the file to a location you will remember.
Importing
- Open Peachtree
- Select File, Import/Export
- Click General Ledger, General Journal
- Click Import
- Choose the following fields: Date, Reference, Number of Distributions, G/L Account, Description, Amount.
- From the Options tab Browse to find the file that needs to be imported and place a check by First Row Contains Headings.
- View the imported journal entries by going to Reports & Forms, General Ledger, General Journal.