Idealpos can interface to MYOB Accounting Software providing a direct transfer of reconciled sales, payments and supplier invoices to MYOB. General Ledger accounts in MYOB are linked to Sale & Purchase Categories in Idealpos, along with other POS Functions.
Sales and banking figures from each POS terminal are consolidated in the ‘End Sale Period’ function by performing an ‘End of Shift’ at each POS terminal. Once the banking figures are reconciled, the consolidated sales and banking totals are then sent directly to MYOB. Supplier Invoices are also sent to MYOB.
Idealpos has two methods of sending Customer Account Sales (Debtors) to MYOB.
Accrual Method – All Debtor and non-debtor sales are sent together to MYOB in a General Journal Entry transaction.
Cash Method – All Debtor sales are sent separately to MYOB to a single Debtor Account.
If your business accounts for GST using the Cash Based Method, and you perform sales to Debtors, then it is recommended that you send Debtors sales to MYOB using a Global Debtor Account.
The advantage of sending Debtor sales to a MYOB Debtor Account is so MYOB will correctly report Sales and GST for Cash Based Accounting.