Clover POS Revenue Accounting Sync

Here we discuss the accounting automation available for Clover

Clover POS is a cloud-based point-of-sale (POS) system and Bookkeep enables you to integrate your Clover POS to automate journal entry postings.

For Clover, we offer daily sales summary and cost of goods sold journal entries. For this sales summary, we enable a gross sales rollup by either item name or by product category. This is able to be controlled from the Clover Settings as shown below with Rollup Method at the bottom. The default rollup method is by Product Category:

The sales summary journal entry posts to your accounting platform on a daily basis the sales from the prior day. This aims to capture the gross sales down to the net sales including discounts, refunds, etc. as well as the breakdown of payments by tender type. 

The cost of goods sold summary journal entry as shown below posts to your accounting platform on a daily basis the costs from the prior day. This captures any items with a cost that were sold or returned for a particular day. If a particular item does not have a cost stored in Clover, it will appear as $0.00 for that item. This cost of goods sold entry covers the increase to cost of goods sold as items are sold as well as decrease to cost of goods sold for items that were returned.

 

Bookkeep captures the orders on the day that they were created regardless of whether they are fully paid. Additionally, Bookkeep monitors for any new successful payments each day and captures these payments for new and older orders. This ensures that all orders and payments are correctly captured.

Bookkeep has observed 3 key components regarding the Clover reporting:

1. The order export for a specific time period shows all orders created for that time period irrespective of whether the order was fully paid. This does not capture any payments in the time period for orders created outside of the time period.

2. The Sales Overview Report is a cash based accounting overview for a specific time period. This will only consider orders fully paid in a respective time period as gross sales. This can be a little misleading as older orders which were fully paid in the time period will show up as gross sales in the Sales Overview Report. When you do not have any pending payments or accounts receivable, the Bookkeep entry will match the Sales Overview Report. If you do have accounts receivable, the total collected in the Bookkeep entry (e.g. cash payments, credit card payments, etc.) will still match the Sales Overview Report total collected amounts. To determine the gross sales when you have pending payments, you can leverage the order export to determine the gross sales. 

3. The order export from Clover can sometimes have incorrect discount amounts when, in fact, discounts are present. We recommend looking at the gross sales minus the discounts which will align when discounts are present.

 

Below, we review an example of what Bookkeep recorded versus Clover. 

1. Bookkeep aligns with the Sales Overview CSV that can be retrieved from Clover for a specific day.

2. One thing to note is the CSV mentioned in step 1 does not include gift cards issued that were fully discounted. We do capture these to ensure you understand the impact of any gift cards that were issued.

3.  In this example, we are reviewing 3/30/23 and below shows what Bookkeep posted:

4. When viewing the Sales Overview CSV for this date, below you can see the gross sales and other relevant net sales items to tie out the Bookkeep entry:

5. Further down in the Sales Overview CSV, you will see a section indicating the Tender Types. This helps tie out the payments captured in the Bookkeep entry. In this case, there were payments by credit card, debit card, and cash:

If you have any questions regarding our Clover journal entry, feel free to reach out to support@bookkeep.com.