Lightspeed POS Cloud Journal Entries

Lightspeed POS is a one-stop retail POS platform enabling merchants to sell everywhere. Our Lightspeed integration allows business owners to organize revenue data feeding in from their cloud-based point of sale system. This revenue data is available on our Lightspeed Summary template and includes the following fields:

Gross Sales

Credit that represents gross revenue before discounts and maps to an income account.

Discounts

Debit that represents any discounts on the orders which should also map to an income account.

Sales Tax Collected

Credit for all sales tax collected on all transactions.

Gift Cards Issued

Credit for the value of gift cards sold, mapping to a Liability account.

Tips Collected

Credit representing all tips collected, mapping to a liability account or optionally to the same account where your payroll provider pays tips out of.

Lightspeed Balance

Debit for the clearing account for the total collected from credit cards before fees.

Lightspeed Other Tender Balance

Debit for the value of the total collected from other tender types, mapping to an other current asset account.

Gift Tender Total

Debit for the total gift cards used as a tender, mapping to the same account as Gift Card Issued.

Lightspeed Customer Credit Balance (issued)

Credit representing the value of Customer Credit Account issued, mapping to a Liability account.

Lightspeed Customer Credit Balance (redeemed)

Debit representing the value of Customer Credit Account redeemed, mapping to the same Liability account as the issued Credit Balance.

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