NOTE: This feature is available in the Professional and Enterprise versions of both Spectra and myStratus Desktop.

Q: How can I reconcile Spectra/myStratus with QuickBooks Desktop (or other accounting software)?

A: When using an accounting integration with Quickbooks Desktop (or other accounting software), you should regularly reconcile your Spectra/myStratus records with QuickBooks Desktop to verify the information matches. Depending on whether you use the accrual accounting method or cash accounting method, the steps for reconciling will vary. If you are unsure of which method your studio uses, you can check by going to Maintenance > Preferences > Company (Studio) Preferences > Accounting tab. See also: Company (Studio) Preferences - Accounting

Instructions:

Accrual Method

1. Within Spectra/myStratus Desktop, print the "Accounts Receivable Aging Report" by going to Reports > Accounts Receivable Aging Report. See also: Accounts Receivable Aging Report  

2. You will also want to print the "Customer Deposit Reconciliation Report" under Reports > Customer Deposits Reconciliation Report.  See also: Customer Deposit Reconciliation Report

3. Subtract the total balance outstanding from your "Customer Deposit Reconciliation Report" from the total balance on your "Accounts Receivable Aging Report." 

4. This total should match your accounts receivable general ledger account within Quickbooks Desktop. (This is the account listed under Maintenance > Preferences > Company (Studio) Preferences > Accounting > Accounts Receivable.)

Cash Method

1. Within Spectra/myStratus, print the "Customer Deposit Reconciliation Report" under Reports > Customer Deposits Reconciliation Report. 

2. This total should match the customer deposits general ledger account within Quickbooks Desktop.

• Invoices or payments have not been posted - Be sure to post any payments or any invoices available to post before printing the reports.

• Adjusting posted invoices or payments - If someone unlocks a posted invoice or payment and modifies or deletes the record, they must also make the change within Quickbooks Desktop. If they do not, this will cause a difference in totals. To prevent this, we suggest using security settings within Spectra/myStratus where you limit who can unlock a posted invoice or payment. See also: Setting up Security

• Re-exporting invoices or payments - Before re-exporting a posting report, you must delete the original posting from within Quickbooks Desktop.  If this is not done, the information will now be doubled.

• Posting without having Quickbooks Desktop open (Quickbooks Desktop direct only) - When posting to Quickbooks Desktop, you must have Quickbooks Desktop open on the computer where you are completing the posting. If you do not have Quickbooks Desktop open and logged in, the posting from Spectra/Stratus will not be completed. It may appear as posted within Spectra/myStratus but does not appear within Quickbooks Desktop. To correct this, re-export by going to Tools > Accounting Link > Re-Export Posting Reports.

• "IIF" file has not been imported - For those not using the direct link with Quickbooks Desktop, an "IIF" file is created that can be imported into Quickbooks Desktop later. If this file has not been imported since the last posting within Spectra/myStratus, it will not be reflected within Quickbooks Desktop. Be sure that the "IIF" file has been imported before reconciling.

• "IIF" file posted multiple times (for Quickbooks Desktop only) - Once an "IIF" file has been imported into Quickbooks Desktop, the file should be deleted, moved, or renamed so the transactions are not imported again.

• Accounts Receivable General Ledger Account within Quickbooks Desktop - Verify that the Accounts Receivable General Ledger account within Quickbooks Desktop is only being affected by Spectra/myStratus exports. When viewing this account within Quickbooks Desktop, you should only see Spectra/myStratus Export posts increasing and decreasing this GL account.