Cash Accounting: Summary Journal Entries Report

The Summary Journal Entries Report in our Cash Accounting Analytics allows you to group multiple transactions within the same bank transfer based on commonalities within one journal entry. The data is available across your entire organization, but if you only have one site in your organization, it will just display that site’s data. You can then export this report to help you create summary journal entries in your accounting software.

Each Summary Journal Entry groups transactions within a bank transfer ID by shared Income Accounts and Classes. For each Income Account/Class combination, two lines are created: one representing the total transaction fees from those transactions, which are debited to the Merchant Fees account; and one representing the total transaction amount from those transactions, which are credited to the selected Income Account. There is also a singular undeposited funds line, which represents the total net amount across all transactions in this bank transfer Id, and it is debited to the Undeposited Funds account. 

This report is meant to work in conjunction with the Bank Transfer Journal Entries report, which creates a separate journal entry for deposits.

Table of Contents

Prerequisites to use this report

  1. Use LeagueApps Gateway
  2. Set up your Site Accounting Codes
    1. Within the Management Console, navigate to Settings > Terminology
    2. Within “Terminology Settings”, set Accounting Code 1 Label = Class, and make sure it’s “Enabled”
    3. Set Accounting Code 2 Label = Income Account, and make sure it’s “Enabled”
    4. Save your preferences
    5. From the same Terminology page, at the top, go to “Terminology Options”
    6. Under Class, add all of the possible classes you’d like to tag your programs and products with (note: these should correspond with the classes you use in your accounting software; if you don’t use any classes, you can leave this blank)
    7. Under Income Account, add all of the possible income accounts you’d like to tag your programs and products with (note: these should correspond with the classes you use in your accounting software)
  3. Tag all of your programs and products with Class and Income Account
    1. For each program, navigate to the program’s page in the management console, and select “Edit details”. Select the Class and Income Account to associate with that program
    2. For each e-commerce product, navigate to the product’s page in the management console, and select “Edit”. Select the Class and Income Account to associate with that product

 

Navigation & Filtering

To view this report, navigate to the Reporting icon and select Reports option under the Analytics header. Then, navigate to the left sidebar, and select Summary Journal Entries under the Cash Accounting section. 

You can filter the data by selecting options from the filters at the top of the report. Selecting options within these filters will change the data you’re seeing for the chart in this report:

  • Site Name
  • Journal Date
  • Journal Number

Any of the columns can be sorted by selecting the arrow in the column title, and choosing which sort option you would like to use.

 

Summary Journal Entries

In the chart, you are able to view all summary journal entries based on the filters you chose at the top of the report. Below is a sample summary journal entry, as well as a definition for each field:

  • Journal Number is the Bank Transfer Date - U - Last 9 Characters of the Bank Transfer Id # (the U stands for “Undeposited”)
    • In the above example, the bank transfer date was 03/19/2023, and the last 9 characters of the bank transfer Id are “0GvDrTMiw”
    • The date is formatted MMDDYYYY
  • Journal Date is the bank transfer date
    • In the above example, the bank transfer date is 03/19/2023
    • The date is formatted MM/DD/YYYY
  • The number of lines in the journal entry depends on how many unique groupings there are of matching income accounts and classes per journal entry. Transactions are grouped by matching income account (aka Accounting Code 2) and class (aka Accounting Code 1), and two lines are created for each of those groups: one representing the merchant fees account (for transaction fees), and one representing the income account (for the total amount paid). There is also a line representing the undeposited funds amount (the net amount for all transactions in this bank transfer). 
    • In the above example, there are five lines in the journal entry: one represents  the undeposited funds account. For each combination of matching income accounts and classes (there are two combinations in this bank transfer), there is one line representing the merchant fees account, and one line representing the income account (so two lines for each, making up four lines total)
    • Undeposited Funds line: the Account is always “Undeposited Funds”. The Amount is the net amount from all of the transactions in this bank transfer, and it’s debited to the account (so it’s positive). The Class is always empty (or “null”).
      • In the above example, the amount is $243.75, debited to Undeposited Funds, and the class is null
    • The first combination of Income Accounts and Classes:
      • In the above example, one or multiple transactions has the Income Account selected for that program/product as “Registrations:Recreation Income”, and the Class as “Baseball”
      • Line 2 in the journal entry shows the relevant Merchant Fees for these transactions. The Account is “Merchant Fees”. The Amount is the sum of fees from these transactions, and it’s debited to the account (so it’s positive). The Class is the matching Class for these transactions (aka Accounting Code 1, see Prerequisites for setting this up)
      • Line 4 in the journal entry shows the relevant Income Account for these transactions. The Account is the Income Account that was selected for the programs/products that these transactions were for (aka Accounting Code 2, see Prerequisites for setting this up). The Amount is the total transaction amount, and it’s credited to the account (so it’s negative). The Class is the matching Class for these transactions (aka Accounting Code 1)
    • The second combination of Income Accounts and Classes:
      • One or multiple transactions has no Income Account selected for that program/product, and no Class selected
      • Line 3 in the journal entry shows the relevant Merchant Fees for these transactions. The Account is “Merchant Fees”. The Amount is the sum of fees from these transactions, and it’s debited to the account (so it’s positive). The Class is empty (or “null”)
      • Line 5 in the journal entry shows the relevant Income Account for these transactions. Since no Income Account was selected in the program/product settings for these transactions, the Account is “Uncategorized Income Amount”. The Amount is the total transaction amount, and it’s credited to the account (so it’s negative). The Class is empty (or “null”)
    • Note: if there are many refunds on a bank transfer, the signs on some of the lines may be flipped (i.e. if the entire bank transfer was refunds, the undeposited funds line would be negative, the merchant fees lines would be negative, and the income account lines would be positive)
  • Description is always “Summary Journal Entry”
    • In the above example, the description for all of the lines is “Summary Journal Entry”
  • Memo is the Bank Transfer Date - Bank Transfer Id 
    • In the above example, the memo for all of the lines is the bank transfer date (03-19-2023) - bank transfer Id (po_1MnX7MLQtmEY0A00GvDrTMiw)
    • The bank transfer date is formatted MM-DD-YYYY
  • Name, also considered the Customer, will always equal “LeagueApps”
    • In the above example, the name for both lines is “LeagueApps”
  • Site Id is the LeagueApps site Id where this bank transfer was created
    • In the above example, the site Id is 42061
  • Site Name is the LeagueApps site name where this bank transfer was created
    • In the above example, the site name is “Seattle Sea Lions Demo”
  • Org Account Id is the LeagueApps organization account Id where this bank transfer was created
    • In the above example, the org account Id is 17808
  • Org Account Name is the organization account name where this bank transfer was created
    • In the above example, the org account name is “LeagueApps Demo Environment”
⚠️Note: Disputes are not included in any of the Analytics reports at this time. 

 

Exporting, Sending & Scheduling

The chart can be exported or filtered by hovering over the top right corner of the chart and selecting your desired options.

Any report or dashboard from LeagueApps Analytics can be exported by selecting the three horizontal lines in the bottom left corner of the screen, and then selecting Schedule export or Send now. You can choose to schedule exports at specific days and times, and with specific conditions (e.g. only if new data has occurred),

You can then choose email addresses—whether they’re part of your organization or not—to send it to, and the cadence you would like the export to occur at. Depending on the report or dashboard, you can export the data as CSV, Excel, or PDF. 

Schedule Send File Type and Days.png

⚠️ Be sure that the Run queries as recipient checkbox is not checked when sending reports to any recipients besides yourself.

 

 

Click here to learn about the other reports available in LeagueApps Analytics.

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