Summary

ServiceBox is introducing an exciting new feature – the Account Reconciliation Report. This feature aims to empower customers to validate and reconcile their accounting and ServiceBox invoices effectively. The Account Reconciliation Report promises to be a valuable tool for users seeking a comprehensive understanding of their financial data across Service Box and accounting platforms. 


Understanding the Account Reconciliation Report:

The Accounting Invoice Reconciliation Report is designed to provide clarity on discrepancies between invoices in accounting (QuickBooks Online, Desktop or Sage50) and ServiceBox. Whether it's due to deletions, non-payment, or other reasons.


Accessing the Report:

You can access this report across three accounting software platforms: QuickBooks Online, Sage 50 Canada, and QuickBooks Desktop. You will notice that the process may slightly vary, but the underlying logic remains consistent for all three.


QuickBooks Online: To access the report

  • Login to your ServiceBox account.
  • From the dropdown menu, select "QuickBooks Online".




  • On the QuickBooks online Sync page, click "Reconciliation".
  • Select the Start and End date. 
  • Click on "Invoice Reconciliation".
  • The system will generate an excel reconciliation report called "Accounting Reconciliation".





QuickBooks Desktop and Sage:

  • Click the "Reconciliation" button on the ServiceBox Accounting Connector.
  • Select the Start and End date. 
  • Click on "Run Report".
  • The system will generate an excel reconciliation report called "Accounting Reconciliation".




Key Elements of the Report:

On the top right hand corner you will see 

  • The start and end date of the report.
  • The software you are using.
  • The Reconciliation ID (number of records in the report).



Basic invoice information: Information in these fields are generated from ServiceBox:

  • Invoice date
  • Customer 
  • Jobsite



  • You will see the highlighted basic invoice information in ServiceBox as shown below.




ServiceBox Columns: Information in these columns are coming from ServiceBox 

  • Invoice Number: invoice number from ServiceBox.
  • Status: Status of the invoice. 
  • Invoice total: Total Invoice amount. 
  • Owing: Total Owing of the invoice.





You will see the highlighted invoice detail in ServiceBox





Accounting Columns: Information in these columns are coming from your Accounting software. These columns are interlinked with the Sync Status column

  • Invoice Number: The Accounting Invoice Number may or may not coincide with the ServiceBox Invoice Number, depending on the chosen settings. In this instance, the ServiceBox Invoice Number is 220399-1, while the Accounting Invoice Number is 220370-5. This discrepancy arises because the customer has decided not to use the ServiceBox Invoice Number in their Accounting software.
  • Invoice total: Total amount of Invoice. 
  • Owing: Total owing of the invoice.


In this example below, the Sync Status is "Not in Accounting" which means that this particular ServiceBox invoice is not synced to accounting. This is the reason the Invoice Total column is blank and Owing is $0.00




Let's look at few more examples...

 

Example - 2


For ServiceBox invoice 220477-4, The sync status is "Matched" indicating that the sync was completed. The Total Invoice and Owing amounts in both ServiceBox and Accounting stand at $7,030.80, suggesting that the invoice remains unpaid in both ServiceBox and Accounting.




Example - 3


For ServiceBox invoice 220499-1, The sync status is "Matched" indicating that the sync was completed. The Invoice Total and Owing in ServiceBox amount to $3,717.00, while the Owing under Accounting is $0.00. In this case, the invoice was listed as paid in Accounting but not in ServiceBox.



Difference Accounting - ServiceBox:


This column shows the difference of Invoice amount and total Owing between two systems -  ServiceBox and Accounting.


It takes the total invoice amount from Accounting and deducts the invoice amount from ServiceBox to get the difference shown in the Invoice column. The same process is applied to calculate the difference in the Owing amount.


For example, in Accounting Invoice 220370 - 19 the Invoice amount in both ServiceBox and Accounting is $3,717.00, the Invoice column in the difference shows $0 ($3,717.00 - $3,717.00 = 0).


The Owing amount in ServiceBox is $3,717.00 and in Accounting it's $0, so the Owing column in the difference shows -$3,717.00 ($0 - $3,717.00 = -$3,717.00).





Sync Status:

  • Not in Accounting - This means you have an invoice in ServiceBox, but it hasn't been synchronized with the accounting system yet.
  • Not in ServiceBox - This indicates that you have an invoice in Accounting, but it is not present in ServiceBox. There could be several reasons for this, including the deletion of an invoice from ServiceBox or the creation of an invoice directly within the accounting platform. The status of an invoice in ServiceBox at the time of synchronization (which determines whether an invoice should be exported to accounting or not) also plays a role.
  • Matched - This status signifies that the invoice is present in both ServiceBox and accounting, and the synchronization process was successful.
  • Accounting Invoice Expected but not Found - This indicates that there is an invoice in ServiceBox, but there is no corresponding record of this invoice in Accounting. This situation may occur if you linked the invoice and then unlinked it.


Total Calculations at the bottom of the report


Total Invoices in ServiceBox: The total for this category is calculated by summing up all invoices within ServiceBox.




Total Invoices in Accounting: The total for this category is calculated by summing up all invoices within the accounting system.





Invoices Not Downloaded To Accounting: The total for this category is calculated by adding up the Invoice amount in the Difference column with a status of "Not In Accounting".






Invoices Not in ServiceBox: The total for this category is calculated by summing up the Invoice amount in the Difference column with a status of "Not In ServiceBox".




Total Expected In Accounting: The Total Expected In Accounting is determined by subtracting the total of Invoices not Downloaded to Accounting from the Total Invoice in ServiceBox.





Total Expected in ServiceBox: The Total Expected in ServiceBox is computed by subtracting the sum of Invoices Not in ServiceBox from the Total Invoice in Accounting.




Invoice Difference: The Invoice Difference is ascertained by deducting the Total Expected in Accounting from the Total Expected in ServiceBox. The value for this category must consistently be $0.00, as confirmation that our report is precisely calculated and reconciled.






If you have any questions about this functionality please contact the our dedicated Customer Service Desk support@jobboxsoft.com.