Linking your VestiPOS and accountancy program is a great way to streamline your admin processes. When posting a reconciliation in VestiPOS we automatically sync all your sales and payment information. We currently support the following accountancy packages:
- QuickBooks Online (beta)
The purpose of this article is to give an explanation of how the integration works. It's important to have an understanding of exactly what's happening in the background.
End Of Day (posting a reconciliation)
When you post a reconciliation in VestiPOS the system will automatically:
- Create a single sales invoice in your accountancy software representing the combined sales in the reconciliation.
- The invoice will contain an invoice line for each item you have sold within the session which will be posted to the relevant revenue account and have the tax correctly set.
- Create the corresponding payments against the invoice.
Where relevant, the following may also be included:
Discounts - If any sales within the reconciliation have had a discount applied, one or more invoice lines will be created to represent the discount apportioned to the relevant revenue accounts. For example if you had a £10 sale made up of £5 food sales & £5 drinks sales. Applying a £2 discount would result in two additional invoice lines on the created sales invoice:
- (£1.00) against your "Food" revenue account
- (£1.00) against your "Drinks" revenue account
Service Charge (Gratuity) - Any service charge processed in the session will be represented as an additional invoice line. It will be posted against "Service Charge" account selected during configuration.
Reconciliation Variances - Any reconciliation variances in VestiPOS will result in the posted invoice having an invoice line for each variance. The variance will be posted to the account set in the "Variances" section when setting up your accountancy integration.
End Of Day Example
As an example, lets assume we have opened a session in VestiPOS:
- We have had sales of £78.00
- Of those sales £10.00 were drinks sales
- Of those sales £68.00 were food sales
- We have also recorded £8.40 of service charge through the session
At the end of the day we end the session and the reconciliation reports:
- Expected cash: £35.40
- Expected card: £51.00
Whilst reconciling we discover a -£2.60 cash variance. We record the figures and post the reconciliation within VestiPOS:
Upon posting the reconciliation, VestiPOS will automatically create the following sales invoice in our linked accountancy software:
- An invoice line for each item sold. These are correctly posted to the correct revenue account based on the item option category.
- The tax has been pulled through from VestiPOS.
- A discount within the sale has been apportioned.
- The service charge has been posted to the configured account.
- The case variance is logged as an invoice line.
- A payment has been recorded for our cash transactions.
- A payment has been recorded for our card transactions.
You will now be able to reconcile the payments against your bank feed.
Note: If you do not use the customer account functionality in VestiPOS then please disregard this section.It's also possible to link your VestiPOS Customers to a specific contact in your accountancy software. Once linked any sales recorded against a customer in VestiPOS will have their own specific invoice generated in your accountancy software against their customer account.This is an optional extension. You should only use this if you wish to see sales recorded against specific customers in your accountancy software.
Account transactions & top ups - note that account payments are not posted to your accountancy software. Any invoice which is charged to account will show as an unpaid invoice. Any top-up payments will be recorded as an unallocated payment against the customer account. You will need to manually assign the payments to the relevant invoices in your accountancy software.
When you complete an order within the order workflow in VestiPOS, the system will automatically create an unpaid purchase invoice in your accountancy software.
Note: The VestiPOS supplier name must exactly match the supplier name in your accountancy software.
Read our guides to link your accountancy software to your VestiPOS account: