This article will help you understand how the Undeposited Funds General Ledger / BP Payments awaiting Deposit General Ledger works with your Blackpurl and Accounting Package


In Blackpurl


  • Payment Methods are setup through System Settings > Settings and Controls - Payment Methods


The Dealership can make the Payment Methods they don't use to be inactive by moving the toggle




  • Each Payment Method has a specific Undeposited Funds General Ledger attached to it in System Settings > Accounting Integration - Undeposited Funds

    



  • When receive a payment from a Customer in a Customer Order (either in the deposit or checkout sections), it will cause a transaction to go across to your accounting package and it will depend on what Payment Method  is used as to what Undeposited funds General Ledger the funds will sits in your accounting package


For example using the Undeposited Payment Method for Cash - it will integrate to the General Ledger -  Undeposited Funds 




If you take a deposit on a Customer Order for Cash, this is the transaction that will go across to your Accounting Package


Debit -  Undeposited Funds GL - $amount of payment

Credit - Customer Deposits GL - $amount of the payment (you are holding the funds as deposits in Customer Deposit GL)


Keep in the mind that the funds will never go straight to your Bank Account as QuickBooks Online / Xero will not allow Blackpurl to post directly to a Bank Account 



In your Accounting Package - Xero or QuickBooks Online


Now it is up to the Dealership to confirm that these funds have been received and show up in your Bank Account


If you have an automatic Bank Feed setup in your Accounting Package (all transactions through your Bank Account are automatically downloaded from your bank), once you can see the funds received into the Bank Account, you can just allocate them to the Undeposited Funds General Ledger that you are using


If you don't have a Bank Feed but you use your bank statements, once you see the funds on the bank statement as being received into the Bank Account, you would journal the funds between your Undeposited Funds General Ledger and your Bank Account General Ledger


Basically the Undeposited Funds General Ledger is a clearing account as funds from Blackpurl will never go directly to your Bank Account


It is up to you to confirm that you have received these funds into your Bank Account and then account for them through your Undeposited Funds General Ledger


This is why it is important to process your Cash Reconciliation in Blackpurl on a regular basis so you know how much total you are looking for in your Bank Account


This is the link to the relevant article - What is a Cash Reconciliation / How to process a Cash Reconciliation