Accounting End of Day Procedure

Post your payment and revenue numbers into the linked financial accounts, get journal entry based reports, and create a transfer file to easily import your data into QuickBooks!

Running the End of Day

The End of Day procedure will batch out depending on the settings selected during the Accounting Setup. The setup must be completed first before you are able to use the end of day features.

Simple 1-Step Method:

The 1-Step Method posts both your payment and transaction journal entries in one go. No reconciliation process is necessary. First, go to Accounting > End of Day. Enter you cut off date, and click Generate.

Note: The cutoff date will create entries for all dates between the last posting and the date entered. 


Upon clicking generate, you will see a list of entries for all general ledger codes affected. Use the tabs to view more information, and check that everything balances on the Summary tab. When you're ready to finalize, click Post Batch.


Advanced 2-Step Method: 

The first part of the 2-Step End of Day method is to reconcile your payments. To begin, go to Accounting > End of Day. The payments tab will automatically be selected. Enter your cut off date, and click Generate.

Note: The cutoff date will create entries for all dates between the last posting and the date entered. 


When you click Generate, you will get a list of all payments entered since the last update date. 

On the Payments tab, you will find a list of all payments collected organized by payment method. For Cash, the actual amount collected (the cash counted from the drawer) will need to be entered. If there is a difference between the Expected amount and Actual amount, it can be written off to the write off account at the bottom.


By clicking on the Summary tab, you are able to review the Journal Entries that will be affected upon posting. As this is the Payment reconciliation, only payment and deposit accounts should have entries created.

To post your batch, click "Post Batch" at the top. This will create the journal entries.


When prompted if you want to post the batch, click "Yes, Submit Batch."

Now that your Payment Journal Entries have been created, it's time to create your Transaction entries. 

Click on the Transactions tab, and enter your cut off date. Next, click "Generate".


After clicking generate, you will see a list of all the transactional data including the journal entries for each financial account affected during that time frame. You can navigate through the tabs across the top to access the detailed information for your reservation and POS revenue, as well as your inventory assets, cost of goods sold, and reservation credits.

Summary will show you the debit, credit, and post amounts for each GL code broken down by day. To finalize your batch, click "Post Batch" at the top.

When prompted, click "Yes, Submit Batch."


Creating Transfer Files for QuickBooks

When you're End of Day posting has been done, go to Accounting > Transfer Batches to create your export file for QuickBooks. The transfer file can contain multiple days, so this does not need to be done on a day by day basis.

Checkmark the batches you wish to transfer, select your format (currently only .iif for QuickBooks is available) and click "Generate". This will automatically download an .iif file to your computer which can be imported into QuickBooks.


Note: Once a transfer has been done, you can regenerate the file by clicking the Options menu to the right, and selecting "Regenerate Transfer File".

The .iif file can be opened in Notepad if you wish to view or make edits. 


Posting Batches

To see a history of postings that have been done, or to undo a posting that was done in error, go to Accounting > Posting Batches.


From the column on the left, you can highlight the batch in question, and see a summary on the right. Highlighting an account on the right, will show the details of each transaction that affect the account to the bottom.

To reverse a batch, highlight the batch you wish to reverse, and click "Reverse Batch" on the top right. This will undo the posting.


Journal Entry Report

To access your journal entry report, go to Reports > Journal Entries. Choose the parameters you wish to run the report for, and click Run. This report can be printed, saved as a .PDF or exported as an Excel or .CSV file.


Frequently Asked End of Day Questions

When should I do my close out?

We recommend doing your End of Day the following morning. Even though your office is closed, guests can still book and pay online. To ensure everything is within the correct calendar date, backdate your End of Day for a midnight cutoff from the day prior.

Do I have to do the End of Day everyday?

Not at all! Firefly will automatically separate the entries out day by day in the journal postings. However, it may make it harder to reconcile your till if many days are grouped together.

You can also choose to do the End of Day close out daily, but the Transfer Batches on a weekly or monthly basis.

Can I do more than one close out a day?

Definitely! You can do multiple close outs a day if desired. Once a batch is posted, Firefly starts a new batch. Therefore, entries that have already been posted will not be affected.

Am I able to make manual adjustments to the posted entries?

While you can always edit the .iif file once its been created, you are also able to make a manual adjustment on the Posting Batches page. Go to Accounting > Posting Batches. Near the bottom, you will be able to select a financial account and enter the credit/debit adjustment amount. Click save. 

AdjustmentThe adjustment will be recorded on the day it is done in the system, and have its own entry on the Posting Batches list.