Accounting Software Integration

Owned by Daryl Saunders (Unlicensed)
Last updated: Oct 30, 2018 by Allison Derome (Unlicensed)
2 min read

Overview

BUZ has:

  • Full Customer/ Accounts Receivable functions including statements, and bank deposit slips.
  • Inventory Management
  • Supplier Purchase Orders and Delivery Docket receiving.

Why integrate?

  • Bank Reconciliation
  • Update General Ledger for Profit and Loss, Balance Sheet
  • Supplier Payments

Currently BUZ has integration with:

  • Xero

On this page:

Accounting Integration and the order and payment life cycle.

BUZ and the accounting systems BUZ integrates with are all "Open Item" systems this means that receipts applied to invoices rather than the customer's balance. This means that until there is an invoice in the accounting system there is nothing to attach money to.

  • Initial deposit and any other receipts received prior to invoicing order are posted to the Deposits Held General Ledger account in the accounting system. BUZ however holds the money against customer's order.
  • The order is invoiced when the product is delivered/installed in BUZ. This is mainly because changes to the order once invoiced are complicated to process for tax and accounting period implications.
  • When the order is invoiced the first step is to see if the customer exists in the accounting system and if not add the customer.
  • Next the invoice is added to the customer's account, each line on the invoice in BUZ becomes a line on the accounting invoice and the product will be the Inventory Group and the net selling price. 
    • (Not available in Xero yet) If cost is available in BUZ then this is posted directly to the Cost of Goods Sold in the General Ledger.
  • The final customer payment is applied to the invoice in the accounting system.
  • Any payments made prior to invoicing are then transferred from the Deposits Held General Ledger account are then deducted from Deposits Held and added to the invoice.

Xero

The items that are pushed to Xero are:

  • Customer Details
  • Customer Receipts
  • Customer Invoices - One line per BUZ line.

Xero is our main focus for accounting integration. It has the advantage being a stable, cloud based system and entries are done in real time.

MYOB Premier V19 (No longer supported)

The items that go to MYOB are the

  • Customer Details
  • Payments
  • Invoices
    • Summed up at Inventory Group level - e.g. 5 lines for roller blinds becomes 1 line quantity 5 in MYOB.
    • Inventory Groups

 To get BUZ to interface with MYOB

  • You need to get MYOB ODBC to link your MYOB file to BUZ (There may be a fee for this from MYOB)
  • GL ledger in MYOB needs to be imported into BUZ
  • You need to then link up the GL codes to Inventory Groups, Customer Groups, Bank Accounts and Tax Rates in BUZ
  • You Receipt all money for invoices into BUZ (As this is a one way process)

 At the end of the day or twice a day or however many times you want to do it you need to get everyone out of MYOB, click a button and push all information into MYOB. Most choose at the end of the day, just depends on how up to date you require MYOB to be.