Month-End Close Package
One bundled export — the monthly reports, plus a summary journal entry that balances using only report data.
What's included: the Monthly Sales Tax Report, Rewards Program Statement, Fees Statement, Tips Report, Refunds & Adjustments, and the stored-value rollforward — followed by the summary journal entry itself.
Worked example (one month):
Debits:
- Cash $58,482.64 (total deposits)
- Processing expense $2,225.96
- Platform fees $349.00
- Rewards program contributions $2,600.00
Credits:
- Revenue $57,600.00
- Sales tax payable $2,957.60
- Tips payable $3,100.00
Both sides total $63,657.60.
One thing that often surprises accountants at first: revenue is credited at the full $57,600.00, even though Patrons only paid $55,800.00 of it — the remaining $1,800.00 arrived as Joe's goods reimbursement, bundled inside the Cash debit. The same is true for tax: Patrons paid $2,867.80, Joe's reimbursement covered $89.80, and the payable reflects the full $2,957.60.
Want to show the program's net cost as a single line in your management P&L? Present contributions minus reimbursed value — $710.20 in the worked example — sourced from the Rewards Program Statement.
FAQ
The journal entry balances, but my bank shows a different cash total — where should I look?
Check the Payout / Deposit Reconciliation report — every deposit drills down to its underlying transactions. Timing is the usual culprit: a settlement started in one month can land in your bank the next.