Financial GL Account Mapping

Overview:

The Financial GL Account Mapping feature allows you to create General Ledger Posting reports (Sales Journals) that align with how you track, report, balance, and post  POS financial totals to your General Ledger.

The reports will show credit and debit amounts to determine if they are in balance. The reports can be used as a guide for making GL entries manually or to audit information before exporting it directly to your General Ledger. 

Things to Know:

  • Financial features will only show up on your menu if you have subscribed to the POS+ product.  
  • Only users who have been set up with access to financial GL Account Mapping will see this feature. 
  • COGS-Well support typically does the initial import of your POS totals.  This import will set up the Financial Categories, Revenue Centers, and POS Totals automatically in COGS-Well and they will be presented according to how they have been set up in your POS system. 
  • If you need to add or change a POS Financial total, then this needs to be done in your POS system.  
  • If you add or change a POS Financial Total in your POS system, then you may need to update the mapping in the Financial GL Account Mapping.
  • If you want to post (export) POS Financial total values to your GL (General Ledger), then COGS-Well support will need to set up an interface with your accounting system. 
  • To configure a GL Account Map, a knowledge of how you report POS totals prior to posting them to your general ledger (often called a Sales Journal) and what general ledger accounts you want the POS totals to post to is required. 

Financial GL Account Mapping:

If we navigate from the Financial Setup Menu to the Financial GL Account Mapping feature, we will see a display like the below listing your GL Account Maps:  

Typically, you will only have one GL account map set up.  You can select to edit or delete a map or add a new map by using the "+" key. We will select to edit an existing map. 

General Tab: 

If we select to edit an existing Financial GL Account Map,  we will see a display similar to the one below:  

GL Map Name: You can use or modify any name you prefer for a GL map.  

Balancing GL Account: The balancing GL account is utilized to capture and report any difference between the total credit and debit amounts and the GL posting reports. The drop-down will search your chart of accounts if you need to select a different balancing account.

GL Accounts Maps Tab:

The GL Accounts Map is utilized to configure the reporting and posting of financial information that is collected from your POS system, to align with your accounting system (how you track, report, and post POS financial totals to your General Ledger). If we select the GL Accounts Maps tab, we will see a display similar to the one below :

Financial Category: This column displays the predefined Financial Categories in COGS-Well. Categories exist for payments, sales, taxes, discounts, and statistical totals. The Financial Category will display for each POS Total that is assigned to that Category. 

POS Total: POS Totals are imported from your POS system. When you use the plus button (upper right of the display) to add a new row, you will see a list of POS Totals to select from. 

Revenue Center: Revenue Centers are imported from your POS.  The POS Totals for each Financial Category have been assigned a Revenue Center by your POS system. This column is used to display or select a specific revenue center or centers that apply to the Financial Category and POS total that is going to be associated with a GL Account. An example is selecting "All Revenue Centers" for posting M/C (Mastercard) payments to a checking account.

The default for a Revenue Center will be "All Revenue Centers", but you can use the drop-down to select a specific Revenue Center from a list of all that is possible. 

Begin Time and End Time: These columns make it possible to report or post a value for a specific daypart to a General Ledger Account.

Using the above example, if you wanted to post the Sales Category for the Food POS Total, to a GL Account for "Breakfast Food Sales", and if the breakfast daypart is from 6:00 a.m. until 10:00 a.m., then you can enter the begin and end times in this row so that COGS-Well will calculate the value for Breakfast Food Sales only. Use the drop-down in each column to select your desired times. Below is an example display:

Type: This column is where you define whether you are reporting or posting a dollar amount or a statistical value (a quantity). An example of a quantity is the number of checks or transactions. Sales, Payments, Taxes, Tips, or Discounts Financial Categories will always have values in dollar amounts. Use the drop-down in the column and row to select quantity or amount. 

GL Account: This is the GL account that you want the POS Total, with the Revenue Center designation, and the time range designation, to post to. Use the drop-down in the column and row to select a GL Account (account names and numbers are displayed). 

Entry: Entry defines whether the value for a POS Total will report or post to the GL Account as a credit or a debit entry.  You can select credit or debit by using the drop-down in the appropriate row and column. 

Post in Detail: General Ledger reporting and posting in COGS-Well will normally consolidate all the POS totals that are assigned to the same GL Account.  Using the below example, all credit card payments will normally be consolidated under the "Checking - Partners in Food" GL Account. 

If you want to see a separate line item for each credit card type (Amex, Visa, Mastercard, etc.) on the POS Financial reporting and/or to post the values for each credit card to your General Ledger, then you should check the box for detail for each row. Please see below:   

Special Function Buttons:

Plus Button: Use this button to add a row for a new POS Total.  Clicking the button will invoke a search feature that will list every POS Total and its associated Financial Category. 

Choose a different POS Total Button: Use this button to change the Financial Category and POS Total assigned to a GL Account.

Copy the selected row Button: Use this button to copy the POS total that is the row highlighted to a new row. 

X Button: Use this button to delete the POS total which is the row that is highlighted when you click the button. 

Up and Down Arrows: Use these arrows to move the highlighted row either up or down in the display order. 

Use the drag and drop button to drag a row either up or down in the display order. 


Save, Save & Exit, and Exit:

Save - Saves the Financial GL Account Map without exiting.

Save & Exit - Saves and exits the Financial GL Account Map

Exit -  Exit without saving.

Did this answer your question? Thanks for the feedback There was a problem submitting your feedback. Please try again later.

Still need help? How can we help? How can we help?