Auditing QuickBooks Against MindBody Reporting

Why won't my QBO Profit and Loss match my MBO Sales by Category Report?

Mindbody reporting shows data differently from standard accounting rules. MBO reporting shows revenue with "net discounts" on a single line, while QBO shows total revenue and discounts as a contra-income account on separate lines.

For example, if you sell $100 of Yoga Revenue, but discounted $25 of that revenue:

• MindBody will simply show $75 of Yoga Revenue
• QuickBooks will properly show $100 of Yoga Revenue on one line and $-25 of Discount Revenue on another line

How to audit the QBO Profit and Loss Report vs. the MBO Sales by Category Report (Recommended)

To get MindBody sales reports to match with QuickBooks – you'll just need to separate your discounts from your income.  All MindBody Sales reports "net" discounts by default, while standard accounting practices include discounts in revenue and then remove them separately as a negative "contra-income" account.  Here's how to get them to match perfectly.

A. Create a Sales by Category Report (with discounting detail) in MBO

1. In MindBody, run a Sales By Category Report (Reports > Sales > Sales by Category)
2. Configure it for a set of dates (for example, 10/01/2020 - 10/31/2020)
3. Choose: Accounting Basis: Accrual or Cash (but please double check that it matches how you report your QBO P&Ls)
4. Check the "Discounting detail" box
5. Click Go and Export to Excel

B. Add up your Discounts

1. Open your exported Sales by Category report in Excel
2. Add up all the Discounts in the Discount Column (Column C) and
3. Paste the total Discounts into the Subtotal Column (Column B)
4. In the Category Column (Column A), name this total "Discounts"
5. Delete Columns C through J – all we need is Category and Subtotal

C. Create a Profit and Loss Report in QBO

1. In QuickBooks, Click Reports on the left-hand side of the webpage
2. Click Run underneath Profit and Loss
3. Under Report Period, configure it for the same dates as above (10/01/2020 - 10/31/2020)
4. Double check that Accounting Method is set to the same Accounting Basis as above (Accrual or Cash)
5. Click Run Report

QBO Transaction List by Date Report vs. MBO Sales Report

If you want a list of every transaction entered in MindBody for a period of time, you need to run a Sales Report with  "Accrual & cash combined" because this report excludes "On Account" purchases by default.

A. Create a Sales > Sales Report in MBO

1. In MindBody, click on the Reports Tab in the upper part of the webpage
2. Click on Sales Tab in the left part of the webpage
3. Click on "Sales" under the Sales Reports part of the webpage
4. Under Dates, select a range of dates (for example, 10/01/2020 - 10/31/2020)
5. Under Options, select "Detail" for the View
6. Under Options, click on "More" and then select "Accrual & cash combined"
7. Click Go 

B. Create a Transaction List by Date Report in QBO 

1. In QuickBooks, Click Reports on the left-hand side of the webpage
2. Underneath the "For my accountant" section, click on "Transaction List by Date"
3. Under Report Period, configure it for the same dates as above (10/01/2020 - 10/31/2020)
4. Click Run Report