This article explains the basics on how to define what set of general ledger accounts will be used for exporting transactions into MYOB. This refers to income accounts for sales (4 series), cost of sales for purchases (5 series) and inventory accounts for both sales and purchases (1 series) if you will be willing to track inventory in MYOB.
A few considerations on the available GL account mappings:
- You will be defining all these GL account mappings in a special module within Connectwise designed for this purpose.
- These settings will be applied to invoices at the time the invoice is being closed in Connectwise, i.e. when you change the billing status to Closed (or any of the custom statuses defined as Closed).
- In the case of expenses, they will be applied when the expense is approved.
- In the case of purchase orders, individual items within a purchase will have these GL accounts applied when they are received and closed.
- Any of these will also make the transaction ready for export and will make it visible in Innovent's integration application.
- The computation of these GL accounts is done entirely in Connectwise, not by Innovent's integration application, and uses options available in Connectwise. Innovent's integration application is not in control of these computations and just exports transactions into MYOB with the GL accounts already set in Connectwise. In the following sections below we will explain the most common scenarios on how you can map these GL accounts, however you should refer to your updated documentation on Connectwise on how to create other types of mapping not covered here.
- Mapping GL Accounts for Inventory Products
This article explains how to configure the General Ledger accounts for inventory product exported in sales and purchases.
- Mapping GL Accounts for Timesheets
This article explains how to configure the General Ledger income accounts for employee times when exported as sales
- Mapping GL Accounts for Expenses
This article explains how to configure the General Ledger accounts for expenses.
- Mapping GL Accounts for other scenarios
This article explores a few of the other options to configure General Ledger accounts that are not covered in the previous articles.