Before using your Accounting Module, you’ll need to set up several features under Settings/Accounting or under Accounting/Settings, depending on your access permissions.
Accounting Options are where you can set your Fiscal Year, Display Options, and Credit Memos for your company.
Chart of Accounts allows you to easily manage your center’s Assets, Liabilities, Income, COGS, and Expense accounts from one section in your system.
Credit Line Options help you define actions occurring when a customer reaches their credit limit or when their account is in default.
Default GL Accounts auto-populate your account information when creating new materials, labors, assemblies, and machines.
Payment Methods allow you to accept various types of payment from your customers.
Payment Terms allow you to set default terms that can then be applied to accounts at the customer level.
Reconciliation Options allow you to enable your accounting data to reconcile automatically each day.
Taxability Codes allow you to define which taxes apply to which line items and components and allow you to quickly designate a product, labor, etc., as tax-exempt, taxable, or taxable with exceptions, based on government policies.
Tax Groups allow you to charge a combined, single rate by grouping tax items—typically local, county, and state.
Tax Items represent taxes collected by an individual agency and are added to Tax Groups to simplify order entry.