Accounting Guide

Welcome to the Accounting Guide.   There are a number of accounting tasks that must be performed to successfully run your store. This article will take you through some of these features in Bravo.

The User Guide, like the Bravo system, may be updated at any time to provide updated information and functionality so it is recommended that you review this information periodically to ensure that you have the most up-to-date and complete information about using Bravo that is available. If you have any feedback on how we can improve the Accounting module, or any of the modules in the User Guide, please do not hesitate to email us using the ticket system.

This guide will give an overview of Bravo's accounting features.  Links to more in depth articles may be provided. There are also notes throughout that spotlight a particular point of importance or highlight a useful concept pertaining to the usage of a particular feature.  These notes are highlighted for easy identification. 

Table of Contents
(Click on the Links to jump ahead to each section)

• Post to Accounting
• Chart of Accounts
• Item Write Off and Accounting Flow
• Layaway Accounting Flow
• End of Day Reporting
• End of Month Reporting
• End of Year Reporting

 

 

 

Post to Accounting

The Post to Accounting feature in Bravo is your daily ledger accounts.  In addition to tracking your daily cash flow, the Detail by Transaction and Consolidated General Ledger features are powerful troubleshooting tools.

In order to better manage the Post to Accounting task, Bravo provides a task bar on the main screen. This task bar lists the tasks to be performed. For each tasks there is a red circle in the upper right corner of the task button.  This circle contains the number of items that need to be processed for that task (for Post to Accounting, this count is the number of days that still need to be posted).  The following screen shows the tasks on the Bravo Dashboard.

The following figure shows the tasks on the main screen in more detail:

Selecting the Post to Accounting button will display the following screen:

As seen in the figure above, Bravo provides auxiliary information called Bravo Bits.  These are tips to the user that define additional Bravo features to assist the user.

If there are more accounting records than can be viewed on a single screen, select the More Records button to display the next set of records.

Selecting the Details by Store button displays store debit and credit store totals, as shown in the following figure. Select Ok to close the Details By Store window.

Selecting the Details by Transaction button provides additional information about individual transactions, as shown in the figure below. 

Bravo uses a dual entry accounting system.  Each transaction in the Detail by Transactions will consist of multiple lines, which when totaled, should equal $0.00.

Select the Print List  button to generate a printable version of the information on the Details by Transactions screen, or save it as a specific file type.

Use the information on these screens to perform normal store accounting procedures. 

To read the complete How to: Post to Accounting guide, click here .

 

 

Chart of Accounts

In order to successfully use the Post to Accounting function, you will need Bravo's chart of accounts (found here ).

The Chart of Accounts is set up so that when you are setting up your General Ledger accounts in Bravo, you know how the accounts are structured, so that when you are importing your Quickbooks (or other accounting Software) account numbers, you have an accurate match.

The Chart of accounts shows the following columns:

• Account Category - Tells you what category the account belongs in.
• Account Name - This is Bravo's account name.
• Editable Account Name (Y/N) - Whether or not you can change Bravo's default account name. (This does not affect entering your own account designations)
• Natural Sign for Acct - Cr (Credit) or Dr (Debit)
• Type (BS=Balance Sheet, PL=Profit/Loss) - Income or asset accounts also noted
• Notes - Additional notes to help you understand the accounts.

The chart of accounts will help you set up your General Ledger accounts.  To learn how to do this, reference the How To: Post to Accounting Guide here .

 

 

Item Write Off and Accounting Flow

When Items are written off in Bravo, what General Ledger accounts are affected, depends on the reason the items were written off.  To help you understand this flow, Bravo has produced this chart.

 

 

Layaway Accounting Flow

To understand how Layaways work with the Post to Accounting function, Bravo has outlined the different types of Layaway scenarios here .

This article will help you understand which General Ledger accounts are affected by different layaway transactions.

For example, a new layaway for $100 with a cost of $20 and a deposit of $10 will show up on the daily ledger against the following accounts.

Account	Dr/Cr	Amount	Debit	Credit
Layaway Holding	Cr	Deposit Amount		10
Inventory †	Cr	Item Cost		20
Layaway Inventory †	Dr	Item Cost	20
any other ††	Dr	Deposit Amount	10

 

You can also pull a Detail by Transaction report to see exactly how each transaction affects the various accounts in Bravo.

 

 

End of Day Reporting

Aside from the Post to Accounting process, Bravo provides several other reports that are useful for Daily bookkeeping.

The End of Day Consolidated report can be run for any given business date.

Start by selecting Reports from the Bravo Dashboard:

From the Reports screen, select End of Day Consolidated, then click Preview.

Enter the date that you want to view and click ok.

You will see the Report Preview window

From this window you can

1. Print the report to the Reports printer as set up in Bravo
2. Flip from page to page in the report.
3. Zoom in to the report.
4. Save the report as one of the formats listed under the drop down menu (**the email icon also saves a file)
5. Display the report in a new window.

The report will show you several sections useful for your daily accounting.  The following sections are provided as a general overview of the End of Day Consolidated report.  For more detailed information, see the article here .

Pawn Activity

This section details the number of Loans taken, renewed, redeemed, expired etc, as well as the dollar amount totals for those transactions.  There is also a section for payments taken at other stores (Inter-Store Txns).

Sales Activity

This section will show taxable and non-taxable sales numbers, including Layaway redemptions, consignment sales, and COGs.  You can also see any Firearm Hold Payments, and the Sales tax collected.

Open Store

This section will show the expected and actual opening totals by till.  It will also detail any variance (Over/Short).

Close Store

This amount shows the closing by till.  The Amount Remaining in Store is going to be equal to the next day's opening amount.

Total Net Revenue

The Total Net Revenue shows the sum total of:

• Total Interest
• Total Fees
• Misc Charges
• Sales Revenue (Profit)

 If the store was not opened the prior day, "Yesterday" will show $0.00

Layaway Detail

This section shows the net change to the store's Layaway Balance and Layaway Deposits based on all layaway transactions for the day.

Repairs

If your store uses the Bravo Repair module, you can track Repair Deposits and final payments here.

Cash Flow

This details the store's cash flow by transaction type.  The Column labeled "In" represents funds taken into the store.  "Out" indicates money that was processed out. (ie - Refunds, or Loans given)

Closing Tender Count

This section shows the expected and actual counts by tender type.

Paid Out

If any cash disbursements were made during the day, they will show on this section of the report.

For more detailed information on the End of Day Consolidated report, please see the article here.

 

 

 

End of Month Reporting

The End of Month report in Bravo is a useful tool when reviewing the books at the end of a given period.  Though it is called End of Month, the report can be run for any range of dates from a week through an entire year.

The following information provides an overview of the End of Month Report.  For a more detailed analysis, see the End of Month article located here .

To access this report, click on Reports from the Bravo Dashboard:

From the Reports screen, select End of Month from the list under Closing Reports and click Preview.

On the End of Month Report Configuration pop-up, enter the range of dates that you need to view and click OK.

You will see a report preview window. 

From this window, you can:

1. Print the report to the Reports printer as set up in Bravo
2. Flip from page to page in the report.
3. Zoom in to the report.
4. Save the report as one of the formats listed under the drop down menu (**the email icon also saves a file)
5. Display the report in a new window.

The report is broken down into several sections. 

Daily Cash Flow Journal

The first section is a daily cash flow journal.

This section will show totals for different transaction types for each date of the reporting range.

Section 2

The second section is comprised of several tables, many of which are pulled from other reports within Bravo.  Each table will be given an overview below, with links to any available reports when possible.

Each table will have two columns:

• The first one is labeled with a date.  This column represents data from the last business date of the report only along with the corresponding quantity column to the left.  
• The second column is labeled month.  This column will represent the report range as a whole, along with the corresponding quantity column to the left.

Inventory Base

This table is pulled from the Inventory Base report in Bravo.  For more information on this report, click here .

The Inventory Base table shows the overall change to the store's inventory base.  You can see totals for inventory in as well as inventory out.

Loan Base

The Loan Base table is pulled from data on the Loan Base report.  To read more about the loan base report, click here .

The Loan Base table shows the overall change to the store's loan base.  It will show starting base, new loans, and any loans that are no longer active, such as loans redeemed and loans expired.

Layaways

The Layaways table shows the overall changes to Layaway Deposits and Layaway Balance during the reporting range.

You can learn more about these numbers by referencing the Layaway Deposits report here , or the Layaway Balance report, here .

Layaway Credits

This table will show you all outstanding layaway credits in your store.  As they are paid out, you can track them via this table.

Repairs

If your store uses the repairs module, you can track your layaway deposits and payments on this table.

Sales

The sales table will break down the taxable and non-taxable sales for the month.  You can also track fees separately and gift card sales.  

This table is pulled from the Sales Accounting report.  You can learn more about this report here .

Consignments Payable

If your store uses the consignments module in Bravo, you will be able to track your sales and payments for the month on this table.

Firearms

Because firearms are often times held before being released to the customer after the store has taken in the money, Bravo splits firearm hold payments to a separate section of the End of Month report so that they can be better tracked.

The left side of this report represents sales.  The right side represents pawns.

Section 3

Pawn and Sales Activity

Identical to the Pawn and Sales Activity sections of the End of Day Consolidated report, these pages provide details on Loan payments in, number of transactions, dollars paid out, taxable and non-taxable sales, cost of goods, etc.

For a more detailed analysis of the End of Month report, please see the article here .

 

 

 

End of Year Reporting

When it comes time to gather your financials for the entire year, it can seem like a daunting task.  Bravo has compiled an article of useful reports that can help you sum up your end of year numbers.

You can read the article here .

This article will go through reports that are useful for end of year numbers, including:

• End of Month Report
• Deposits and Paid Outs Spreadsheet
• Loan Base Report
• Pawn Activity Summary
• Loan Disposition Report
• Supplemental Loan Disposition Report
• Sales Accounting Report
• Sold Inventory Report

You can access the sections for each report from the End of Year Reporting article by clicking on the links above.  

To access the entire article, click here .