If you keep financial statements by location, you will use Heartland Retail Reporting to book journal entries by location.
If you are not using Heartland Retail's Quickbooks Online (QBO) integration, when you build the reports in Heartland Retail to book your journal entries (as per this article Using Heartland Retail Reporting to Create Accounting Reports and Journal Entries For Your Accounting Software), make sure you include 'By Location' under the Groups Tab so that your numbers are reported by location, not in total. You can then use those 'by location' amounts to book your journal entries using the appropriate locations.
If you are using Heartland Retail's QBO integration, you will need to create reclassification journal entries in QBO to move amounts from the 'unspecified' location (or class) to the appropriate location (or class) in QBO. The current Heartland Retail to QBO integration does not bring over journal entries at the location (or class) level. Instead all journal entries are brought from Heartland Retail to QBO with an 'unspecified' location (or class). You can easily run a 'by location' report in Heartland Retail (monthly, or however often that you choose) so that you can reclass the amount from unspecified to the proper location (or class).
To add the by locations in the reclassification journal entry in QBO, you will need to run reports in Heartland Retail, by location. For example, here is how to create a report for Sales and Cost of Goods Sold by Location, for last month (assuming you are going to do a reclass journal entry once a month):
- > Filter the date to view last month
- > Location >> Name
- Source Sales >> Gross Sales
- Source Sales >> Net Markdowns
- Source Sales >> Gross Returns
- Source Sales >> Net Sales
- Location Sales >> Net Item Sold Cost
If you are using the QBO, we recommend:
(1) That you create a monthly 'Recurring Transaction' (in your QBO account, under the 'wheel' icon, under 'lists'). Then each month (or week or however often you want to move unspecified location amounts to a location(s)), you use that Recurring Transaction template to create a journal entry to move the amounts to the appropriate locations as reported in your Heartland Retail By Location Reporting. For example, for the total Gross Sales amount you will debit the total with no location (or class) to move the Gross Sales out of Unspecified. Then you will credit Gross Sales for each Location or Class using the by location Heartland Retail reports.
(2) That you build a Custom Report of P&L by Location (or Class) so that you can easily reconcile amounts to Heartland Retail and also so that you can see the amount in 'unspecified' that needs to be reclassified to each location.
If you have additional questions about this, please email us at HRetailsupport@heartland.us.