In order to ensure a smooth import process into your accounting system, we must first undertake a once-off mapping exercise between Meetiing Hub and your accounting system. This involves the following activities:
- Mapping Accounts/General Ledger Codes
- Mapping Billing File Column Headings
- Configure Monthly Billing (if applicable)
Watch the YouTube Video Tutorial on how to configure account (general ledger) codes, map billing file headers and finally export the billing file ready for import in to your accounting software.
Step 1: General Ledger Codes
Most businesses want to track revenue associated with bookings, this is typically done through the use of General Ledger or Account Codes which match to different service items, E.g. venue, room or space hire. Your organisation may also have different codes for different Space Types E.g. Meeting Room, Training Room or Consultation Room, or different codes for additional services, such as catering or audiovisual hire. In this step, we will map the account codes to the corresponding Meeting Hub field to ensure when the billing file is exported, each line that corresponds to a charge has the correct Accounts Code associated with it. In doing so, this will ensure that when transactions are exported from Meeting Hub into your Accounting Software, the charges are posted to the correct revenue line item in your P & L.
These can then be mapped under My Organization Settings in the Accounts/Finance section.
Step 2: Mapping Excel Column Headings
In order to allow the smooth import of billing transactions, it’s normally necessary to map the fields from Meeting Hub to your Accounting System for the relevant information required to successfully create a Sales Invoice in your accounting system. Please consult your software vendors’ documentation to determine which fields are mandatory (or necessary) to successfully create a Sales invoice from an import file. Typically, these are fields such as Invoice Number, Invoice Date, Description, and financial amounts.
The column names under “MH Columns” are the default Meeting Hub field names within the Meeting Hub Excel output file. If you wish to replace these column headings based on your own accounting system add the correct field name within the corresponding “Organization Columns” fields provided. It is best to copy and paste the field names into the Organization Column fields to avoid mistakes that could lead to failure to upload. Once these columns have been mapped and you generate your billing file, you should now have all Meeting Hub transactions correctly coded to their General Ledger Account Codes with the correct column headings ready to import to your Accounting software.
TIP: For additional information relating to the Column Headings please look at My Organization Settings
Step 3: Configure Monthly Billing
If your organization intends to run billing daily, weekly or in an ad-hoc manner, there is no need to configure monthly billing. If however, your organization intends to bill strictly at the end of each month you need to ensure that you have ticked the Monthly Billing Box under Organization Settings and provided an Invoice Numbering sequence. When set, this will allow Meeting Hub to group all bookings associated with each client to be grouped together under a single invoice. Each booking or transaction will appear as an individual line item on the invoice. Once imported into your Accounting system, you may then choose to merge these charges along with any other regular scheduled charges you bill your clients for E.g. office rental.