Lightspeed POS Cloud journal entry templates

This article will detail the templates available for Lightspeed.

Lightspeed POS is a one-stop retail POS platform enabling merchants to sell everywhere.  Our (Beta) Lightspeed integration will allow business owners to organize revenue data feeding in from their cloud-based point of sale system.  This particular 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 - This Credit is all sales tax collected on all transactions.
  • Gift Cards Issued - This Credit is the value of gift cards sold and should map to a Liability account.
  • Tips Collected - This Credit represents all tips collected and should map to a liability account or you have the option to map to the same account where your payroll provider pays tips out of.
  • Lightspeed Balance - This Debit is the clearing account for the total collected from credit cards before fees.
  • Lightspeed Cash Balance - This Debit is a tender account and is the value of the total collected from cash. You can map this to the standard Undeposited Funds account to use the Bank Deposits window in QuickBooks.
  • Lightspeed Other Tender Balance - This Debit is a tender account is the value of the total collected from other tender types. It should map to an other current asset account.
  • Gift Tender Total - This Debit This line is the total gift cards used as a tender. Use the same account as above for Gift Card Issued.
  • Lightspeed Customer Credit Balance (issued) - This Credit represents the value of Customer Credit Account issued and should map to a Liability account.
  • Lightspeed Customer Credit Balance (redeemed) - This Debit represents the value of Customer Credit Account redeemed and should map to the same Liability account as the issued Credit Balance (above).

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