The basic steps for exporting from LightSpeed to MYOB using the file method are outlined below.
The details of your export will be displayed in a green status box if the export was successful, or a red one if not.
To create your LightSpeed Suppliers as MYOB Suppliers, you must do a once-only export of Suppliers. Once the Suppliers are set up in MYOB as Suppliers, you do not need to re-export them. However, if you add any Suppliers to LightSpeed, you must re-export your list of Suppliers and re-import it into MYOB. IMPORTANT: If you modify the name of a Supplier in either LightSpeed or MYOB, you must manually update the same modification in the other software.
First, you must select which type of journal entry you prefer to export: Detailed Journal Entry or Summarized Journal Entry.
Detailed Journal Entry
Each Invoice is exported as a separate transaction. It is VERY IMPORTANT to understand that the Invoices are NOT imported into MYOB as Invoices but as journal entries that debit or credit the appropriate GL account in MYOB.
If you look at the export file, each entry will have a common journal entry number generated by LightSpeed, the date of the transaction, a memo containing the original Invoice ID, the GL account number, and the debit or credit amount.
Summarized Journal Entry
All Invoices are exported as a single transaction. If you look at the export file, each entry will have a journal entry number generated by LightSpeed, the date of the journal entry, the GL account number, and the debit or credit amount.
Both export files have the same structure. The first line of each transaction is the Accounts Receivable account, followed by the Income, Tax, COGS, and Inventory accounts. The number of lines for each transaction will depend on how your GL accounts are set up in LightSpeed. If all Products use the same Income account, you will only see one line for Income, etc.
When you export Invoices, you will be asked to save two files. One is Sales (To Import), which is the file you will import into MYOB. You will also export a detail file, named Sales Detail (Do Not Import), where you will find a list of all the exported invoices including the Invoice ID, Date, Customer Name, Subtotal, Taxes (Collected Tax Accounts) and Total of each Invoice. This detail file should not be imported into MYOB, and is simply for your reference.
You can modify the name of these export files if you prefer. The default file names will include the date range of the export, and an ID number you can save for your records for later referral. Exporting Invoices is how you change the value of your Income, Asset, and COGS accounts, as well as your Accounts Receivable account.
Each Payment is exported as a separate transaction (a block of two lines in the file). If you look at the export file, named Payments (To Import), the first line is for the Accounts Receivable account and the second line is for the Payment Method account. Every line will have the same journal entry number generated by LightSpeed and the same journal entry date. Each transaction will have a memo containing the Invoice ID and the date, the GL account number and the debit or credit amount. The default file names will again include the date range of the export, and an ID number you can save for your records for later referral. Exporting Payments are how you change the value of the GL accounts that have to do with Payment Methods, as well as the value of your Accounts Receivable account.
When you enable LightSpeed’s Multi-Store functionality, you can set up a GL account to account for Product that is “in transit” – that is, not in the inventory of either location. Transfers are not posted, so it is very important that you do not export the same “in transit” transfers twice. Transfers will affect this asset/inventory GL account, as well as your regular asset/inventory GL account. When your Transfer Out is in transit, the value of the inventory will be taken out of your regular asset account, and moved to your “in transit” GL account. Then, when your other location receives the transfer, the value will be moved from this “in transit” GL account to the regular asset account of the other location. The file name is Transfers (To Import).
When you export your Supplier Invoices (Purchases) from LightSpeed into MYOB, you will be asked if you want to export your Suppliers. The first time, you must do this export, saved as Vendors (To Import), and then import it into MYOB (in MYOB, go to File > Import Data > Cards > Vendor Cards). You will also be asked to save two files – one named Miscellaneous Purchases (To Import), which is the file you will import into MYOB (see “Importing to MYOB” below), and another named Supplier Invoices Detail (Do Not Import), which is simply for your records. As above, the file name can be modified if you wish. Exporting Supplier Invoices (Purchases) are how you change the value of your inventory after receiving Product on a PO, and the value of your Accounts Payable account.
LightSpeed is able to export multiple payables for the same PO. Each time you receive product on an existing PO, you create and save a new Supplier Invoice. This will allow you to import multiple Supplier Invoices into MYOB for each PO entered in LightSpeed.
Each transaction block in the export file corresponds to a Supplier Invoice. The number of lines depends on how the GL accounts for taxes (Collected and Paid) are set up in LightSpeed. The first line is for the Asset account and the others are for the Tax accounts. If you want the taxes (Paid) to be counted separate from the line items, you have to set up your GL accounts in Tax Setup accordingly. By default, the taxes are counted with the Asset account.
Example: In the US, taxes are counted in the Asset accounts while in Canada, some provinces count their Taxes separate from the line items.
If you look at the export file, you will find the Supplier, the PO ID, the PO Date, the GL account number, and the amount.
Vendors
Vendors only need to be exported the first time you export from LightSpeed to MYOB, to set up the Vendors/Suppliers in MYOB. If you modify the name of any Supplier/Vendor in either LightSpeed or MYOB, you must manually modify the name in the other application to match exactly the original modification. If you add any Suppliers to LightSpeed, you can export Vendors/Suppliers to MYOB and only the new entries will be added to MYOB.
Adjusting your Inventory negatively or positively will affect its value in your accounting software. Each adjustment you make must be exported along with your Supplier Invoices and Invoices as a credit or debit to your accounting package. The default name of this file is Inventory Adjustments (To Import), and also may be edited.
Note for Australia
Because of the method with which MYOB handles Inventory Adjustments in terms of requiring both tax-inclusive and tax-exclusive pricing, LightSpeed does not support exporting inventory adjustments to MYOB for Australia, and instead recommends doing manual journal entries in MYOB for any inventory adjustments you make in LightSpeed.
History
Clicking the History button will open the History drawer, which lists in reverse chronological order the exports to MYOB you have done. The information listed is the type of export, its ID, the date range of the export, the user who performed the export, and the date the export was performed. For each entry, there is also a checkbox you can select once the export has been performed successfully. Imports into MYOB should only be performed once.
Invoices
Payments
Transfers
Purchases
Inventory Adjustments
Clicking the History button will open the History drawer, which lists in reverse chronological order the exports to MYOB you have done. The information listed is the type of export, its ID, the date range of the export, the user who performed the export, and the date the export was performed. For each entry, there is also a checkbox you can select once the export has been performed successfully. Imports into MYOB should only be performed once.
