This window allows you to define the Chart of Accounts for your A/R subledger. The accounts can use any numbering scheme you wish as long as they follow these rules:
must be all numbers (no special characters or letters)
|
Column |
Definition |
|
Subaccount Code |
The numeric identifier you assign to describe the account |
|
Description |
The text description you define to describe the account |
|
Export Account Name |
Defines the name of this account to be used when sending data to an external Accounting Package. For example; The SchoolLeader 201 account may be called "Misc-Revenue" in Quickbooks. The name "Misc-Revenue" would be entered here. NOTE: These accounts must be setup in your external G/L program before exporting data. |
|
Tuition Revenue |
Identifies the account as being responsible for holding Tuition revenue. This is important to some reporting features in SchoolLeader and shot be setup carefully. |
|
Allocation Order |
The order of priority you want SchoolLeader to follow when trying to distribute payment credits across outstanding balances in these subaccounts |
In addition to the user defined subledger accounts you specify here, there are three permanent accounts that you cannot modify or delete. These accounts are used internally by SchoolLeader to support standard accounting practices as follows:
|
Account |
Definition |
|
BADDEBT |
Used to accumulate write-off charges. This account can be reported on for tax purposes |
|
PREPAY |
When overpayments are received from customers these funds are accumulated in this account until such time that charges exist to offset the payment credits |
|
CREDITADV |
Subledger accounts in A/R cannot have a credit balance. These accounts are either zero or have a debit balance (outstanding charges). Any credit advances you apply to an account are kept here until such time that charges exist to offset the credit. |
This entry box is located at the bottom of the window and is used to define the name of the "Bank" account that is to be used when exporting A/R data to an external General Ledger Package such as QuickBooks Pro(r).
This name should match a preexisting Account already setup in your G/L program.
Special Userid Security Permission required to access this window: SysAdmin: Read
Remember, SchoolLeader IS (among other things) your businesses A/R Subledger. SchoolLeader IS NOT your General Ledger. From an accounting perspective this simply means SchoolLeader maintains and reports on the transaction level detail to support the Accounts Receivable line item in your General Ledger. SchoolLeader "manages" the General Ledger A/R Account and you should consider these subaccounts as a further breakdown of detail for that General Ledger A/R account. The total of all you're A/R subaccounts should equal the A/R total in your General Ledger.