Connex Online: Summary Transaction

Summary Transaction

If you have several orders a day, Connex can summarize the last 24-hours of sales and aggregate them into a single sales receipt or invoice as well as create summaries for each store.

Required

Summary Transaction feature requires the Pro subscription plan or higher.

What are the benefits of creating a summary?

There are many benefits:

  1. Save space: Instead of several hundred, you have a handful of orders.
  2. Track inventory: Inventory will decrease. The COGS account for each item is debited and the inventory asset account is debited.
  3. Track Income: The sales account is credited and the undeposited funds are debited.
  4. Easier reconciliation: You will get one invoice per day per sales channel. If you use ShipStation and you have three channels, then you would sync three invoices. Cloud Cart Connector will group invoices by the deposit account, so you can track sales by payment method.
  5. Automatic: Our software creates this invoice automatically for you, once a day, every day.  

How do I download a day to summarize?

Here are the steps:

  1. On the Connex Dashboard , Choose the connection and click Manage.
  2.  Next, expand the Orders Tab, then click Orders > Sync Orders to QuickBooks >Transaction Tab
  3. At the Transaction Type Drop Down, Select Summary Transaction from the list.
  4. Next, expand the Sync Manually to QuickBooks tab.
  5. Choose a date range to summarize. We recommend a twenty-four hour period like 6/11/2020 12:00 AM to 6/11/2020 11:59 PM.
  6. By default, Connex syncs orders by their creation date. You can sync orders with a certain status, though you might have issues reconciling.  In the Order Statuses to Export field, enter some statuses.  Otherwise, leave the field blank to sync all statuses. 
  7. Click Save Settings.

How do I set-up the sync to run daily?

Here are the steps:

  1. Open the Sync Manually to QuickBooks tab.
  2. Adjust the Export Orders After to 12:00 AM yesterday.

 

4. Adjust the Export Orders Before to 11:59 PM yesterday.

5.

5. Click Save Settings.

6. If you are a Connex for QuickBooks Desktop User, run your Web Connector.  If you are a Connex for QuickBooks Online user, Connex will sync automatically.

7. Connex will automatically reset the timers to tomorrow at the same time.

Do you support multiple currencies in the same selling channel?

Connex can group orders by their currency code and deposit account. Each currency needs its own deposit account. In this example, we will summarize four orders. Two of them belong to Amazon FBA, but they use Euros instead of Canadian Dollars. Here is the set-up:

QuickBooks

You must create deposit account:

  1. In QuickBooks, go to the gear box and click chart of accounts.
  2. Click new.
  3. Select other current asset for the type and subtype. Add the currency: 

Connex 

Step 1: Create a rule to map the deposit account based on currency: 

  1. From the Connex Dashboard, on the left,  click Rules Engine.
  2. Add a rule to map deposit accounts for each currency by following the sample below:
  3. Map_Deposit_Account.jpgName_Rule_Deposit_Account.JPGOrder_Deposit_Account_Action.JPG
  4.  
  5. Map_deposit_accoun_conditions.jpgOrder_deposit_comparison.JPGMap_TO.JPG
     

Step 2:  Choose the Customer Type on the Customer Tab in Connex:

On the Connex Dashboard, choose the connection and click Manage.

Next expand the Customers Tab > Matching.  From the drop down, choose Store Name and Currency as the customer mode. Connex will append the currency code to the selling channel name in QuickBooks:

  1. Expand the Orders > Sync Manually to QuickBooks tab to change the sync dates under export settings to a one-day range, such as August 13th 12:00 AM to August 13th 11:59 PM.
  2. Open the Orders>New Order and Product Accounts tab and choose a default deposit account for your home currency. In this case, we will use undeposited funds.
  3. Click Sync Now.

How does Connex calculate sales tax?

Connex adds a line item called Sales Tax that credits sales tax payable. Connex adds tax as a line item for several reasons:

  • A summary order can contain orders with different tax rates from different states. A QuickBooks tax code only applies a single tax rate.
  • When Connex adds a QuickBooks tax code, Connex must remove tax and recalculate it. Since you want the total tax from for the day, you want a line item.

Here is the sales tax item that Connex creates.

What if I only charge tax in one state?

Connex can add a default sales tax code if the order contains tax and the shipping address state matches no existing mapping. Here are the steps:

  1. From the Connex Dashboard, click Manage at your connection
  2. Expand the Tax>Sales Tax Mapping Tab.
  3. Click Add New Tax Code
  4. Choose  a Tax Code from the Drop Down in the Tax Code Column
  5. Enter US in the Country column. Leave the state field blank.

Here is an example transaction with Massachusetts sales tax that ships to New York.

Example Summary Transaction

Here is an example transaction.

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