Accounting Export
Overview
The Accounting Export turns your Profit figures into a journal entry file for QuickBooks Online or Xero. Each month becomes one balanced entry, built from the same numbers the P&L shows.
Requires Pro or Max
The Accounting Export is on Pro and Max, with the P&L. Your 14-day trial includes it.
Download a file
- Go to Profit > P&L.
- Select Accounting Export.
- Choose a Format: QuickBooks Online or Xero.
- Choose the months in From and To.
- If you have more than one shop, choose a Shop or All Shops.
- Select Download.
You can choose any ended month from the last two years, up to 24 months in one file. The current month is not offered until it ends. A month with no sales is left out of the file.
What each entry holds
Every entry is dated the last day of its month and balances against a Reverb Clearing account, because each line is money that moves through your Reverb payout.
| Line | Debit or credit | Recommended account | Xero code |
|---|---|---|---|
| Item Sales | Credit | Sales | 200 |
| Shipping Revenue | Credit | Shipping Income | 210 |
| Taxes Collected | Credit | Sales Tax Payable | 820 |
| Taxes Remitted by Reverb | Debit | Sales Tax Payable | 820 |
| Refunds | Debit | Sales Returns | 220 |
| Marketplace Fees | Debit | Marketplace Fees | 405 |
| Shipping Label Fee | Debit | Shipping & Supplies | 425 |
| Cost of Goods | Debit | Cost of Goods Sold | 310 |
| Cost of Goods | Credit | Inventory Asset | 630 |
| Due from Reverb, or Due to Reverb | Balancing line | Reverb Clearing | 615 |
A few things to know:
- Taxes Collected is a liability, never income. Reverb pays the tax to the state, so the two tax lines cancel out and the record stays in your books.
- Shipping posts only the labels you bought on Reverb, because Reverb takes them from your payout. Labels, supplies and expenses you paid yourself already reach your books through your bank feed.
- A line with no amount is left out.
Map accounts to your chart of accounts
QuickBooks Online and Xero only accept an account that exists in your chart of accounts. If your accounts have different names or codes, map them once and every file uses them.
- In the Accounting Export dialog, select Map Accounts.
- Enter your own Account Name (QuickBooks Online) or Account Code (Xero) for each line. A line you leave as it is shows Recommended.
- Select Save.
The mapping is saved for your whole account and reused for every shop and every export. Reset to Recommended puts every line back to the defaults.
Who can change the mapping
Only an admin can change account names and codes. Editors and viewers select View Accounts to see them, and anyone who can open the P&L can download the file.
Import each month once
Import each month once, after its refunds settle. A refund books to the month of its order, so a month can still change after it ends.
If you have more than one shop, export either each shop or All Shops, never both. Both together book the same sales twice.