Managing the Ledger

Checkout Bookkeeping Work

Each purchase order, invoice, payment and stock correction made in a store creates a journal entry in Checkout that can later be exported to AccountEdge or another accounting application. Checkout uses an accrual-based, double entry accounting model internally. When you create your store database you can select whether Checkout should use an Average Cost or a FIFO cost matching system to track your stock related transactions. You cannot change the cost matching system after you have created your store database.

Transactions made in Checkout are final the moment they are recorded. To make it easy to correct mistakes, various options are provided throughout the interface to make a correction. Whenever you make such a correction, a corresponding transaction will be created–your bookkeeping records will always be accurate.

Ledger Options

In the Checkout Ledger, you have several display options including the ability to filter by date range, filter by keywords and ledger view:

• Simplified View
  A simple breakdown of entries. This view shows the basics of each entry including the date and time of the entry, what the entry was, what customer or supplier the entry was made for, the profit amount (if any) on the entry and the total amount involved with the entry. You have the options to filter the list for specific customers or suppliers, using the filter bar, and specifying a date range.
• Journal View
  The journal view shows a detailed double-entry breakdown of each transaction in the system. This view will show the date of the entry, what the entry was for, each debit for the entry, and each offsetting credit for the entry. You can print the ledger or create a PDF file by choosing Print from the File menu. As above, you have the options to filter the list for specific customers or suppliers, using the filter bar, and specifying a date range.

Integration

Checkout allows you to export your ledger to AccountEdge (2009 and later US Mac versions, and 2009 and later Canadian version), Mamut AccountEdge and AccountEdge Plus, and QuickBooks Pro for Mac software (2007, 2009 and 2010 US versions).

Integration with AccountEdge

Check the Integration Notes for Checkout to AccountEdge and QuickBooks account mappings.

To configure Checkout for AccountEdge, follow the Configure Checkout for AccountEdge procedure.

When you export the journal entries, you have the following options:

• All Transactions
  Export all transaction from the first entry through the last entry.
• Selection Only
  Export entries based on both the date range and entered search terms.
• Since Last Export
  Export all entries since the last export of the currently selected file format. At the bottom of the window you’ll see a short description of the last transaction included in an export.

The Since Last Export option is recommended when you export journal entries on a regular basis. Neither Checkout nor AccountEdge checks whether exported transactions are duplicates; there is no check to determine whether or not the transactions have already been exported and imported into AccountEdge.

The last step is to choose what will occur when the export is complete. The options are:

• Reveal File
  This option will open a Finder window in the folder where the file was saved.
• Launch AccountEdge
  This option will launch AccountEdge so you can import the general journal entries.
• Nothing
  If this option is selected, the file will be exported with the indicated name to the indicated location.

To complete the export process, enter a file name at the top of the export window, and choose a location to save the file. Click Save. The results will be a text file of journal entries that you can import into AccountEdge.

Import Journal Entries into AccountEdge

To import the journal entries into AccountEdge, launch AccountEdge and open your company file, and create a backup of your company file. Then,

• Select Import Date from the File menu
• Select General Journal Entries (if you are using the International version of AccountEdge, select Transaction Journals)
• Select Tab-delimited as the import file format
• Select first record is a Header Record
• Click Continue
• Navigate to the folder where the file containing the exported journal entries exists, and select the file
• Click Open
• Select Match All
• Click Import

Integration with QuickBooks Pro for Mac

To configure Checkout with QuickBooks follow the Configure Checkout for QuickBooks procedure.

If the account mappings need to change, you can click the Configure button, to change the configuration.

When you export the journal entries to QuickBooks, you have the following options:

• All Transactions
  Export all transaction from the first entry through the last entry.
• Selection Only
  Export entries based on both the date range and entered search terms.
• Since Last Export
  Export all entries since the last export of the currently selected file format. At the bottom of the window you'll see a short description of the last transaction included in an export.

The Since Last Export option is recommended when you export journal entries on a regular basis. Neither Checkout nor QuickBooks checks whether exported transactions are duplicates; there is no check to determine whether or not the transactions have already been exported and imported into QuickBooks.

Next, choose what will occur when the export is complete. The options are:

• Reveal File
  This option will open a Finder window in the folder where the file was saved.
• Launch QuickBooks
  This option will launch QuickBooks so you can import the general journal entries.
• Nothing
  If this option is selected, the file will be exported with the indicated name to the indicated location.

To complete the export process, enter a file name at the top of the export window, and choose a location to save the file. Click Save. The result will be a newly created .IFF file that you can import into QuickBooks.

Import Journal Entries into QuickBooks

• Launch QuickBooks; open your QuickBooks company file
• Select Import from the File menu
• Choose From IIF File...
• Choose the .IIF file that you exported from Checkout
• The status of the import will be displayed

Other Export Format Options

You have the option to export the ledger into a format that can be used to import into other packages. There are 4 other format options available:

• Excel
• Numbers
• Comma-separated text (CSV) format
• Tab-delimited (TSV) text format

Additionally, you can select the layout format of the exported ledger data:

• Journal
  The journal layout exports a detailed version of transactions in a double entry accounting layout
• Simplified
  The simplified layout exports transactions the same way they are presented in the simplified view in the ledger window.