We're converting to Sonar and I'm having a bit of a struggle to pulling a meaningful end of day data to enter into QuickBooks. In QuickBooks, We HAVE to track the Revenue AS IT HITS our Bank Account. We do this by entering 3 separate day end transactions into QuickBooks. 1) Invoice for Credit Card Batch, 2) Invoice for ACH/E-Check Batch and 3) a Sales Receipt (since the funds hit our account immediately) for the Sum of Cash & Check Payments received that day. We have to do separate invoices for Credit Cards and ACH/E-Check because we get funded on different time tables and different batches. We Apply Payments (in QB) to the Credit Card and ACH/E-Check Invoices as we receive the funds from IPPay which is 2 - 5 days later. This allows us to make sure we actually get paid for the transactions we ran and most importantly makes it straight forward to reconcile our Bank Account. Since we track our expenses in QB, We ABSOLUTELY NEED to break down the Invoices by GL Code as we enter them in order to track profitability of our different service offerings i.e. Wireless Broadband, Hosting Fees, VoIP etc. . For Instance, an invoice for the daily credit card batch would be x amount for Wireless Broadband, Y amount for Hosting and Z amount for VoIP for a Grand Total of the Sum of all the line items. Currently in Sonar, I find the Transactions by GL Code and Payments reports only containing partial data which is insufficient. PLEASE, PLEASE, PLEASE modify the Payments report to include sub break downs by GL Code or make a customized report that would allow us to pull this data together.
If anyone else has an easier way to track your income by GL Code and track payments hitting your bank account for easy reconciliation, I'd be most interested in learning about it.