Accounting and Ledger Entries
Sumac and QuickBooks: Setting Up Your Integration
Setting Things Up Sumac can integrate directly with Quickbooks to send General Ledger Entries from Sumac to Quickbooks for financially significant types of data. Before data can be transferred directly from the Sumac database to your accounting ...
Sumac and QuickBooks: an Introduction
Sumac can integrate directly with QuickBooks to send General Ledger Entries from Sumac to QuickBooks for financially significant types of data. What versions of QuickBooks can Sumac integrate with? Sumac can export to QuickBooks Online or QuickBooks ...
How-to Video: Ledger Entries 6 – Preferences (2:58)
Script: https://sumac.com/assetswp/training-docs/Ledger%20Entries%206%20-%20Preferences.pdf
How-to Video: Ledger Entries 5 – How to Assign Credit Accounts (2:32)
Script: https://sumac.com/assetswp/training-docs/Ledger%20Entries%205%20-%20How%20to%20Assign%20Credit%20Accounts.pdf
How-to Video: Ledger Entries 4 – How to Define Credit Accounts (2:45)
This video shows you how to define Credit Accounts to facilitate using Ledger Entries in Sumac. Script: https://sumac.com/assetswp/training-docs/Ledger%20Entries%204%20-%20How%20to%20Define%20Credit%20Accounts.pdf
How-to Video: Ledger Entries 3 – How to Assign Debit Accounts (2:32)How-to Video:
This video shows you how to assign the Debit Accounts you have set up in your Sumac database. Script: https://sumac.com/assetswp/training-docs/Ledger%20Entries%203%20-%20How%20to%20Assign%20Debit%20Accounts.pdf
How-to Video: Ledger Entries 2 – How to Define Debit Accounts (2:56)
This video shows you how to define Debit Accounts to facilitate using Ledger Entries in Sumac. Script: https://sumac.com/assetswp/training-docs/Ledger%20Entries%202%20-%20How%20to%20Define%20Debit%20Accounts.pdf
How-to Video: Ledger Entries 1 – Overview (2:26)
This video gives an overview of using Ledger Entries in Sumac. Script: https://sumac.com/assetswp/training-docs/Ledger%20Entries%201%20-%20Overview.pdf
How does Sumac integrate with accounting software? (QuickBooks, Simply Accounting, etc)
There are several ways that Sumac can integrate with accounting software: a. You can instantly get a total of donations in any time period, so if you just need to put a "total donations" figure into the accounting software, you can do this as often ...
What happens if there are errors in the data Sumac exports to QuickBooks?
Before it sends any records to QuickBooks, Sumac needs to get QuickBooks account IDs. It does this by sending the codes of the accounts in Sumac, and getting the account IDs back from QuickBooks. If any of these fail, the whole export operation is ...
When importing donations, does Sumac add them to my Ledger Entries?
Yes, if you already have Ledger Entries set up, records being imported are added to the ledger in accordance with the Ledger Entry preferences you have set up in your database.
Can Sumac ledgerize old donations that already exist in Sumac, or does it only add new donations to the Ledger?
No, Sumac only creates Ledger Entries for new and updated records.
Can a user select a bunch of donation records and ledgerize them in bulk?
No, ledgerizing happens one record at a time as the records are entered into the database.
How does Sumac handle Penny Rounding Accounts?
Some countries have eliminated very small denominations coins. For example, Canada used to have one-cent coins (pennies), but now its smallest denomination coin is five cents. As a result, cash transactions are rounded up or down to the nearest five ...
Importing Sumac Ledger Entries into Simply/Sage
To import into Simply accounting, do the following In Sumac, go to the Ledger Entries list. Search for the date range of entries you're interested in to find the list of entries to export. Under "Analyze & Report," click "Simply (Sage 50) Accounting" ...