Setting Up Transactions
Setting Up Transactions
If the copy function was not used when entering the association information, default GL and bank accounts must be selected as part of the association’s setup. This setup must be completed in order for transactions to post to your association.
To select the default accounts:
Select Setup > Transaction Setup. If you are using universal navigation, click Accounting > Setup > Transaction Setup.
Search for and select the applicable association.
Enter the following information and click Save:
Default A/P GL Account: Select the accounts payable GL account number.
Default A/R GL Account: Select the accounts receivable GL account number.
Management Rental Account (Association): If applicable.
Management Rental Account (Property): If applicable.
Retained Earnings Account (Operating)
Retained Earnings Account (Reserve)
Default Bank Account for Payments: Select the default operating account for payables. CD banks cannot be selected.
Default Bank Account for Receipts: Select the default operating account for receivables. CD banks cannot be selected.
