This article aims to provide a guide on validating Loop Journal Entries (JEs) with DoorDash financial reports for accrual-based accounting.
Loop generates JEs for selected cadence/date ranges in the GL entries page based on transactions and activities as they occur, rather than when payouts are generated.Discrepancies may arise when we compare these accrual-based JEs with DoorDash payout reports as chargebacks, reversals, and miscellaneous charges related to earlier transactions (falling outside the intended date range) might also be part of the payout reports.
Recommended Validation process
To ensure accurate validation, we recommend comparing your JEs with Transaction Reports from DoorDash rather than payout reports. Follow the steps below to validate JEs effectively:
Validation Steps for Doordash Transaction Reports
Generating and Downloading the transaction report
1. Log in to Merchant Portal: Access your Doordash merchant portal using your credentials.2. Click on "Create report"
- Choose a channel: Select "marketplace"
- Choose a report type: Opt for "Financials" as the report type.
- Choose the type of financial data: Click on "Transaction Breakdown" to access transaction-level data.
- Customise your report: Set the date range for validation. Ensure it matches the exact period you are validating your JE for. and Choose the specific location(s) you want to validate data for.
3. Click on Create Report: Complete the process to generate the report.
4. Locate the report: Once done you can find the generated report in the 'Reports' section of your Doordash portal5. Download the report: Download the generated report which typically includes summarized transactions and a detailed transaction breakdown.
Reviewing and comparing the report
You can use the summarised transactions to quickly compare numbers with your Loop JEs. For a more detailed analysis, you can also delve into the transaction report. This breakdown allows you to match individual transactions and validate the accuracy of your JEs.
Example Video:
Refer to this video for a step-by-step demonstration. In the video, we compare a week of JEs as generated by Loop with Doordash transaction reports, showcasing how to validate the numbers effectively.
To learn more about validating your GL entries with other 3P data take a look at the following articles!
Grubhub - Link
UberEats - Link
If you have any further questions or concerns, feel free to reach out to our support team at support@tryloop.ai.