In this article we introduce you to the Chart of Accounts and how you can create your own accounts to fine tune your sales reporting.
Configuration
Creating revenue streams is imperative to streamlining accounting. Revenue accounts are the various sources from which you generate revenue from. Rather than a blanket set of "Sales", sales can be broken down into food, beverage, liquor and so on. Properly setting up your chart of accounts can help you get a more granular view into sales. For example, by breaking out liquor products from beer products, maybe we find that we're selling 2.5x more liquor than beer and that was hard to determine when those products were all lumped into one basic "Beverage" net sales account.
Create a Revenue Account
In GoTab, there are default revenue streams. You can keep the default groups, as well as and creating your own new ones. Each revenue stream must have an assigned reporting group of Net Sales--Autograt--Tax--Deferred Revenue--Receivables--Tips--Fees--Chargebacks--Processors--Other--Paid In/Out
Add New Accounts
Navigate to the gear icon by the Payouts Page to access the Chart of Accounts.
The Chart of Accounts is organized by first Net Sales. Everything in this section will be applied to Net Sales. Anything routed to Net Sales will also show in your PMIX. If it's not routed to Net Sales, it will not populate in your PMIX.
To add an account, scroll to the bottom of Net Sales (and at the bottom of each accounting group--net sales--tax--tip etc.) to add a new account to the accounting group you're currently in.
The above example shows at the bottom of the Net Sales accounting group where you can add a new net sales account.
For a different example, below we show Deferred Revenue.
Accounts on Accounting Dashboard
Below we show how our food, beer, sales, wine, tips etc. accounts show on our accrual accounting page.
Revenue Accounts on the Sales Dashboard
Here, we only clicked into Total Net Sales and it reveals the card on the right with a breakdown of net sales by account, zone etc. We can do the same for gross sales, fees, discounts etc. and we offer CSV downloads that often offer additional information, such as direct tabs link when applicable. One example may be if you have an unpaid sale for a day. You may want to download that CSV so you can easily click and be taken right to the tab that is unpaid.