BoosterHub Academy: 3.63 Accounting—Reconcile Reports

Reporting is one of the most important features of the BoosterHub accounting system. Accounting > Reports defaults to the Current Budget vs Actual report, and you can choose to look at the budget for any of the Programs in the dropdown list.  In the main report list, you can see the wide variety of reports that can be viewed, starting with Accounting Reports.

  • The Balance Sheet will show assets, liabilities, and net balances for the year.  All bank accounts and cash balances will be included on the balance sheet.  If you have BoosterHub Pro, you can also choose the Detailed View to see assets and liabilities by program.
  • The Income Statement shows all income and expenses over a period of time, and net income or revenue for the year.  It looks very similar to the budget report, and similarly it can be viewed in Detailed View if you have BoosterHub Pro, and that will show detail across different programs.
  • The Treasurer's Report shows starting cash balance, the various revenues and expenses, and the ending cash balance.  It is essentially a cross between the Balance Sheet and Income Statement.
  • The General Ledger will record the details for each transaction for each of your accounts with BoosterHub.  So if there are any questions with respect to specific income or expenses, this is a good place to look.
  • The General Journal is similar to the ledger, but transactions are organized by Transaction Type rather than account.  The General Journal is also a good place to see every transaction in case there are any questions about particular transactions.
  • The Accounts Receivable Report tracks anything on a payment plan. Items on installment are autobilled and will only need your attention if their payment method fails.  For items in Pay Later, you are waiting for people to initiate payments. Each of the reports is clickable, so you can see the details of the transaction. The Accounts Receivable Report can be sorted by date, by person, or other attributes.
  • Journal Entries will show all the journal entries that have happened in the system in case you can't find them in any other place in the ledger.

Next are Operational Reports, which are less accounting in nature and more related to the Store and other features of BoosterHub.

  • Booster Credits gives you a list of all Members and any credits they have on file.
  • BoosterBucks Donation Report records all of the donations that came in through any of your fundraisers.
  • Inventory Report is a Store report tracking sales by item. Click on the specific Product to show transaction details and information on the purchasers, where applicable.
  • Paid/Unpaid Orders Report allows you to see who has paid for an item and who has not. This is helpful for items like band fees to see who still needs to make payments.  Groups who have or have not made payment can also be selected for emails with reminders or information about the item.  
  • Store Transactions provides all transactions occurring in your Store, and there is considerable filtering capability to allow you to narrow down on the particular transactions of interest to you.  
  • Submitted Check Request shows all check requests submitted and their status.  
  • Submitted Cash Tally Sheets shows all cash tally sheets submitted and their status.  

Next are Reconcile Reports.

  • Probably the most important and most often used report in BoosterHub is the Credit Card/ACH Batch Report. This report allows you to see all the transactions that have come in through your Store or Fundraising and what was deposited in your bank. If you click on an item, it will show which transactions were batched, and the Amount and Net Amount, which will be the same in the regular Store. For transactions in Fundraising, it will take out the platform fees. If any of the transactions don't batch as normal, the system will send an automated notification after 3 business days.
  • Cash Tally Over/Under Report records any amounts over or under after you have submitted the Cash Tally Sheet.

Next, the Tax Reports summarize the data in BoosterHub and tell you the information you need for tax reporting. The data should be double-checked by an accountant, and you will need to file all of the forms.  

  • Sales Tax Report shows sales taxes collected and taxes that may have been paid.
  • 990 Report pulls the data from BoosterHub that will help you complete the 990 report, but you should submit it to an accountant to make sure it is accurate.
  • 1099 Report pulls the data from BoosterHub for anyone paid more than $600 in the last fiscal year. You will still determine if that individual or organization needs a 1099, but you can see them here on the 1099 Report.

Finally, under Miscellaneous we have the Non-Cash Assets report. The Balance Sheet does not track anything that may have depreciation, such as a trailer, for example. The Non-Cash Assets report gives you an opportunity to track the original price and current market value.