Does Retail Express Integrate with MYOB?
Yes. Retail Express is a cloud-based Retail Operating System providing seamless integration with MYOB accounting software. Retail Express streamlines your entire operations and together with MYOB give you control & visibility to make better business decisions.
Using the Accounting Import Solution Tool, you or your bookkeeper can quickly & easily import relevant retail transactions to your general ledger in MYOB.
What Information is Imported?
Data in Retail Express can transfer over to MYOB using two different methods.
Summary transactional data such as sales, laybys, purchase orders and stock adjustments can transfer to MYOB into the relevant journals. In this method, MYOB captures ‘processed’ sales from Retail Express into the cash account, and layby sales go into a layby (suspense) account. For each product group in Retail Express you can nominate the relevant asset account code, sales account code and cost of sales journal within MYOB. This summary method is ideal for most retailers that don’t run accounts with their customers. That is, they don’t allow their retail customers to leave with the merchandise until fully paid for, and therefore do not need to use statements within MYOB.
The detailed transfer method will transfer individual sales transactions and card files from Retail Express POS software directly into MYOB accounting software. MYOB will show each individual sales transaction, customer details and invoice details exactly as they were entered into Retail Express.
In both methods, the purchase orders from Retail Express stock control software import into MYOB as an Open Bill – ready for payment within MYOB ‘pay creditors’. All other functions such as bank reconciliations and general ledger accounting occur inside MYOB software as normal.
What About Partially Paid Transactions?
A partially paid transaction in Retail Express POS software converts to an Open Invoice within MYOB. A fully paid transaction in Retail Express point of sale system becomes a Closed Invoice in MYOB accounting. You can therefore use the MYOB accounting statements to send out to debtor customers.
What About Xero?
Yes, we also integrate with Xero – please see here for more information.