M3 is a cloud-based accounting software solution with main features including project management, accounting, invoicing, time and expense tracking, document and resource management. 

In this article you can learn about:

• How to set up the M3 accounting integration
  • Step 1: Ensure your receivables tracking is enabled
  • Step 2: Create accounting categories for revenue and payments
  • Step 3: Accounting mapping
  • Step 4: Assign all payment types an accounting category
  • Step 5: Configure your accounting editable history window
  • Step 6: Assign all products and services an accounting category
    • For Stay services
    • For Additional services

 

How to set up the M3 accounting integration

You can follow these steps to set up the Mews M3 accounting integration:
 

Step 1: Ensure your receivables tracking is enabled

Unlike other accounting integrations, the system does the debtor tracking for the M3 connection in Mews. The system still transfers all invoice aging information to M3. If you disable this option,

• you cannot properly track any unpaid invoices and Mews records their closing as having received the actual payment.
• You no longer have an open item to post the actual payment against, once you receive it. 

To enable your receivables tracking:

1. Go to the main menu  > Settings > Property > Finance. 
2. Click on Accounting configuration > Options. 
3. Make sure to check the Receivable tracking enabled option, as seen below. 

Step 2: Create accounting categories for revenue and payments 

Create all necessary accounting categories, in as much detail as necessary, and assign them to all services, products, and payments. If you have outlets, such as restaurants, shops, etc. connected to Mews, set up their own accounting categories. Learn how to create an accounting category. 
 

Step 3: Accounting mapping 

Unlike all other connections where it's necessary to assign the correct Ledger Account codes to each of your accounting category, it is not necessary to do so for the M3 connection.  

The M3 team does all of the accounting category mapping for the integration. You go through this step after your integration request via the Mews Marketplace and the M3 team receives your data for mapping. For any additional questions on this topic, reach out to your M3 account manager. 
 

Step 4: Assign all payment types an accounting category 

After you decide the payment types that you want to use and their report details, ensure that you assign all of them an accounting category. 

1. Go to the main menu  > Settings > Property > Finance. 
2. Click on Accounting configuration. 
3. Make sure each payment type has an assigned accounting category. Learn more about creating accounting categories here. 

 

Step 5: Configure your accounting editable history window 

The accounting editable history window has a direct effect when Mews sends a booking entry to the accounting software and cannot exceed one day. 

When deciding the duration of the editable history window keep in mind any outlets, for example, bar, lounge, that are working late and at what time the following day you expect to have the data available for your accounting team. 
You can read more about the editable history window and how it works, then navigate to main menu  > Settings > Property > Finance > Accounting configuration to configure.
 

Step 6: Assign all products and services an accounting category 

To obtain accounting reports with no items appearing in the unassigned, i.e., the None section, you need to assign an accounting category to each product and service.  
 

For Stay services

1. Go to the main menu  > Settings > Services > Stay > Accounting. 
2. Add the appropriate Accounting category.