Setting up a new co. file. Have 1 years worth of daily sales totals set up in Excel. Date in the left column, a column for each sub-category of sales, tax, total, and tender breakdown. Can I import this TX detail into quickbooks?
I would set up an entry (deposit or sales receipt form) and enter one entry/month into QuickBooks.
I would post the income totals, by category if desired, sales tax collected, gift certificates in/out and, then throw it all into a Sales Clearing Account (bank type account).
Then, from the bank statement, make one deposit for the total deposited (making sure to not include any loans, owner deposits, or vendor refunds/rebates in that total), pulling from the Sales Clearing Account.
Post any paid out expenses (from the drawer/safe) via Write Check from the Sales Clearing Account.
At the end of the year, whatever is left in the Sales Clearing Account should represent sales in December which have not yet cleared the bank.
Since you are in CAN, please confirm with your accountant that you are in compliance with the GST reporting.
I hope this helps,
Laura D
