CustomBooks™ Release Notes | Labrador 2025.02.13

CustomBooks™ Release Notes | Labrador 2025.02.13

New Sales Report! 

We’re excited to introduce our new Sales Report, which calculates Days Sales Outstanding — a key metric that measures the average time it takes for customers to pay their invoices. This report provides both invoice-level details and customer-level averages for the selected period.

The Days to Pay is determined by calculating the difference between the invoice date and the cash receipt date, offering valuable insights into payment trends and customer payment behavior.


Miscellaneous

  1. Data Import Wizard: Users can now update existing Mapping Rules in Staging.

  2. Cloud Banking: Cash inflows can now be matched to both Cash Sales and Cash Receipts for a single transaction.


  3. Cloud Banking: General Ledger Account Groups are no longer available for selection when connecting a new bank account, as Group accounts are non-posting accounts and cannot store transactions.

  4. Price Matrix: Items and item categories can now be adjusted by percentage in addition to amount.


  5. Bank Reconciliations: For credit card reconciliations, we’ve made a slight adjustment to the ending balance formula to better account for liabilities. On the "Begin Reconciliation" screen, when statement credits and statement debits are entered, the ending balance is now calculated as:
    Beginning Balance + Statement Debits - Statement Credits 

  6. General Ledger Report: When running a General Ledger report or drilling down to a General Ledger report from a Trial Balance for Income Statement accounts, the data shown now only reflects the date range selected without showing a beginning balance.

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