How do Canadian customers consolidate monthly with Yapla?

Reconciling your Yapla payments and invoices with your accounting system is an important process for maintaining accurate and up-to-date accounting records and ensuring efficient association cash management.

To successfully consolidate a period with Yapla, Canadian customers must ensure accurate entry of their revenue and expense accounting items, including transaction fees, as well as their bank account details. For those using accrual accounting, proper management of accounts receivable and deferred revenue is crucial. By diligently following these guidelines and utilizing the reports provided by Yapla, customers can streamline the consolidation of their income and bank account entries.

Remember to configure account 1200 in your accounting system, as it will serve as the repository for receivables from your Yapla credit card transactions. Should you wish, the number of this account can be adjusted to suit your needs.

This is the quickest technique I like to teach my clients, and is suitable for all package accounts. The last step is specific to Galaxy customers who have accrual accounting enabled.

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Ensure that your accounting items are accurately set up as per Yapla's Accounting functionality, and that they are applied to your event fees, memberships, etc. It is also recommended to maintain a separate bank account for each payment method.

Determine the period you want to consolidate. I generally recommend monthly consolidation, but many people do it every two weeks.

Go to Accounting/Consolidation and consolidate a period. Export to Excel. If this is your first time consolidating, start with a first consolidation from the beginning of your usage to the day before the selected period.

Edit the consolidation report. I suggest that you add 2 columns, one called Credit and one called Debit. You will enter the amount in the appropriate column.

Revenues and Taxes payable go in the Credit column. 

Bank accounts, transaction fees, and accounts receivable go in the Debit column.

If you want to check the sales and tax totals, export the sales by accounting items reports for the same period.

If you want to check bank account entries, export the ledger report for the same period.

If necessary, export the accounts receivable in case of accrual accounting.

You can now begin entering data into your accounting system using your edited consolidation report. Remember to create an accounting item, account 1200, to track funds in your Yapla Account from credit card transactions that have not yet been transferred to your bank account

If you need more in-depth training on how to manage your accounting, please contact us.

And if you need clarification on the article, I also look forward to your questions below.