Accounting checklist

Use this checklist to ensure you are ready for Clubspot to move transactions to your QuickBooks account.

Once your chart of accounts is synced or imported into Clubspot, you can determine which items should go to each account.

• Set your default income accounts in the Accounting Defaults section under Reporting. (don’t worry, you can get more granular from there!) If using subtypes, click into each subtype to set the default income account to apply to those subtypes.

• Map all individual products / events in the Account Mapping section under Products.

• Make sure that no products are set to 4000 Sales, which is the Clubspot Default income account.

See Account Mapping for detailed instructions for mapping accounts.

Clubspot populates your dashboard with the basic accounts required for any transaction type that could take place. If you do not want these accounts being created in Quickbooks you can replace them with your own accounts.

• 1000 Cash

• 1200 Accounts Receivable

• 1201 Unbilled Accounts Receivable - Any transaction that has been added to a house account but has yet to be invoiced for.

• 1202 Asset Clearing - Any admin balance adjustments for memberships will impact this account, along with AR.

• 22XX Sales Tax - These accounts are created for any tax rates you have in the system. If you have multiple tax rates and would like them consolidated, just let our team know.

• 3200 Processing Fees - All payment fees deducted by the payment processor.

• 4000 Sales - Clubspot’s default income account if no other is mapped.

• 7100 Cash in Transit - This is your Stripe balance at any given moment. Online payments are paid out at a slight delay by Stripe. As a result, it it common to have a Stripe balance made up of online payments in transit to your bank.

Though less commonly used, you may also want to replace 1400 Inventory Asset, 2000 Accounts Payable, 5000 Cost Of Goods Sold, and 6900 Bad Debt.

To replace an account, click into it and select “Replace”. See more detailed instructions here.

Once your accounts are mapped and our defaults are replaced, you will almost be ready to populate Quickbooks with accounting data. That said, there are a few last items to check.

• Let our team know if you would like offline payments like checks and cash to go to a different Cash account. As an example, some clubs prefer debits from checks recorded in Clubspot to go to an undeposited funds account.

• Please tell us what account you would like any tips or gratuity to be mapped to.

• Let our team know if you would like us to recalculate/reprocess your previous transactions. Prior to your first sync, and if your account mapping took place after any substantial amount of transactions took place were processed, we can back-date your mapping.

• Tell us your preference for whether you would prefer summary journals. Clubspot can produce journal entries that are rollup debits and credits for each account used in a period, or we can provide the individual credits and debits for every single transaction.

• QUICKBOOKS DESKTOP ONLY - Export a CSV from the Chart of Accounts section to visually inspect the subsequent IIF file import. If all looks good, download the IIF fie from the Chart of Accounts section in Clubspot, make a backup of your quickbooks account and import the IIF file!

• QUICKBOOKS ONLINE ONLY - Let our team know what starting date you would like us to sync transactions from. Clubspot will run this sync and will enable a daily, auto-sync going forward.