Accounting
SKU.io keeps a full double-entry ledger that builds itself from what you already do — fulfilling orders, receiving stock, recording bills, adjusting inventory. You don't post journal entries by hand; you read the books SKU.io keeps for you, and hand a clean set of numbers to your accountant or your accounting software.
Chapters
- Set up — how the ledger is built, and the accounts, tax treatment and invoice numbers it uses.
- Ledger & Statements — read your entries and run your financial statements.
- Month-end close — check and sign off each accounting month, and set the hard close date that freezes your books.
Concepts
- How automatic accounting works — double-entry, automatic generation, and the chart of accounts.
- How entries are grouped by sales channel — one summary entry per channel, and what the SKU.io channel means.
How-to guides
- Review the ledger — browse entries and read the debits and credits behind each one.
- Read your financial statements — the Income Statement and Balance Sheet.
- Map your accounts to QuickBooks Online — control which QuickBooks account each entry posts to.
- Use different accounts for each sales channel — channel-specific Sales and COGS accounts.
- Fix entries posting to the wrong account — trace and correct a mis-mapped posting.
- Set your invoice numbering — the number formats on your documents.
- Choose who calculates tax — post tax as a ledger line, or let your accounting system calculate it.
Month-end close
Closing a month checks your books, signs the month off and saves its report pack. A closed month can still change: a late entry dated in it lands there, the month shows as Closed – restated, and it asks you to re-sign it off. Only your hard close date freezes the books, so nothing dated on or before it changes.
| To… | Go to… |
|---|---|
| See the whole workspace: the Year board, what each check measures, and what stops a close | Month-end close |
| Find your way around the Close tab: the Year board, its month tiles and the month drawer | Close tab anatomy |
| Close a month, from Start close to a signed-off month | Close a month |
| Clear a check that stops the close | Fix a failing check |
| Understand why a closed month changed, and what Balance moved means | When a closed month changes |
| Sign off a Closed – restated month again | Re-sign-off a restated month |
| Freeze your books at a quarter or year end | Move the hard close date |
| Learn what the hard close date freezes, and how it relates to the lock in Xero or QuickBooks | Lock the books |
| Check what the close compares against QuickBooks or Xero | Reconciling with your accounting provider |
The close runs in stages: Before you close, Close the month, After the close, Lock the books and the Month-end close reference.
Reference
- Chart of accounts reference — every account and what posts to it.
- Close checks reference — every automated check, what it measures, and whether it stops a close.
Connect and reconcile
- Connect Xero — authorize Xero and walk the setup wizard.
- What syncs to your accounting provider — every document type, and which way it moves.
- Match bank statement lines — match a bank statement to the payments and settlements behind it.
- Read the accounting dashboard — balances, sync state, and what needs attention.