How to import Racing NSW expenses and owner prizemoney pre-payments

How to import Racing NSW expenses and owner prizemoney pre-payments

As a NSW-based trainer, you can import data from Racing New South Wales' Stakes Payment System (SPS), after the RNSW Statements are sent to you. This typically occurs on or soon after the 15th of each month and again on or soon after the last day of each month.

This feature must be enabled and configured for your Prism portal.

If you are a NSW-based trainer who wishes to save a lot of time processing Racing NSW transactions twice per month, please email us at support@prism.horse. Please provide your RNSW Account Number AND your RNSW Online keyword that is shown on your RNSW Statement.  Or simply attach a recent RNSW Statement.

You will typically import:
  1. owner prizemoney pre-payments paid to you, which need to be credited to your owner/debtor accounts;
  2. racing or trial-related fees (including nominations, scratchings, workers compensation, public liability etc).
The accounting of these transactions is as follows:

Accounting of Owner Prizemoney Prepayments: Allocated to Horses as a Credit (Negative Sale amount), split to owners, then passed to Xero on month-end debtor invoicing.
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Accounting of Race Fees: Allocated to Horses as Expenses, split to owners, then passed to Xero on month-end debtor invoice.


You may also optionally import the following transactions:
  1. Trainer's prizemoney percentage received;
  2. Trainer's BOBS Bonus prizemoney received;
  3. apprentice riding fees.
Note: We recommend only importing transactions that relate to owners (prizemoney pre-payments and racing or trial-related fees). We recommend not importing your Trainer's Prizemoney, BOBS Bonus and apprentice riding fees as they are better handled directly in your accounting system (Xero/Myob). 


Step1:  Click on <Import NSW Invoice> button in Finance/Transaction page




Step 2: Select Date Period

You can apply a filter on any column, including the Date column. We recommend filtering for the date period for your latest RNSW Statement (e.g. 1st to 15th of the month) as that allows you to cross-check all transactions and totals to ensure no transaction is missed.




Step 3: Delete any transactions you do not want to import

For example, you may choose to not import any of the following:
  1. Trainer's prizemoney percentage received;
  2. Trainer's BOBS Bonus prizemoney received;
  3. apprentice riding fees.
These amounts are not charged or credited to owners in any way, so we recommend managing them manually in Xero or MYOB, and not to import them into Prism.

Select the rows you wish to delete, then click the Delete button.



Step 4: Select similar transactions via the tick box .

You can apply a filter on any column, including the Item or Invoice Message columns.



This allows you to select rows of similar transactions, so you can correctly apply the Accounts Receivable code and Tax Rates, in bulk.

For example:
  1. Select all Owner Prepayment lines; 
  2. Select all Race/Trial Fees;



Step 5: Apply Accounts Receivable code and Tax Rate

Once you have selected rows of similar transactions, click the Account (Rec) and Tax Rate (Rec) column headers to display the options.

Select the relevant options and your selection will be applied to ALL selected rows. 




Step 6: Update Horse Names

Where a horse name is shown in Red, the horse name in RNSW Statements does not match an existing horse in your Prism portal. This is most like due to one of the following causes:
  1. RNSW system includes the country of origin suffix in the horse name, but you do not;
  2. The column width of the horse name on RNSW's Statement is not wide enough to display the full horse name.
You can Edit these rows and manually select the correct horse in the Edit screen.

Step 7: Click button to import the selected transactions

Step 8: Repeat from Step 4 for different types of transactions




You may choose to automatically create a Supplier Bill in Xero. We do not recommend this as it is generally easier to manage the Supplier Bill from RNSW (or an Invoice from RNSW if there is a nett payment paid to you), manually twice per month in Xero / MYOB. 

If you do wish to automatically create a Supplier Bill in Xero, you will need to:
  1. import ALL RNSW Stakes Payment Transactions, including
    1. Trainer's prizemoney percentage received;
    2. Trainer's BOBS Bonus prizemoney received;
    3. apprentice riding fees.
  2. allocate Accounts Payable Codes and Tax Rates to every row (ensure you have included the Account (Pay) and Tax Rate (Pay) columns in your screen view); and
  3. select the Create A Supplier Bill In Xero option at the top of the RNSW Import screen.


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