You should configure your chart of accounts in Accounting>Accounting Settings>Accounts so that it matches your General Ledger. Accounts created here will be available in various dropdowns throughout the application depending on their Type.
For each Account you create, enter the Account Names and GL Numbers. The following Account Types are available:
- Receivables: your organization must have at least one Account Receivable (AR). However, you are able to add more than one All Sales and Payment transactions will be logged against the Account Receivables created. All ARs must be set at the Funder level.
- Bank: Edit or create for each bank account against which you’ll be logging payments.
- Expense: This will be used to write off amounts for payments that will never be collected.
- Revenue: Create a revenue account for each Cost Centre. It will be applied to each Bill Code and be logged against for each Visit and/or Credit Note.
- Liability: If your Services are taxable, enter each tax account that will need to be logged for each visit. Each Liability account (e.g. HST) will sum the amount of tax the agency owes.
Create an Account
- To see configured Accounts, go to Accounting>Accounting Settings>Accounts.
- Click +New Account.
- In the resulting dialogue, enter a Name and select a Type. Optionally, you can also enter a GL Number. For consistency in the GL, only the name will be editable once the account is saved.
- Click Save.
Edit an Account
Click Edit for the account you wish to edit and make the necessary changes. When you have finished, click Save in the dialogue.
Disable an Account
Click Disable for the account.
Click Save to confirm.