Accounts

the accounts tab is divided into four sections payment accounts , revenue accounts , sales discount accounts , and tax accounts each section allows you to define the accounts that your institution uses for various financial categories payment accounts in the payment accounts section, you can view and define the payment methods your institution accepts these payment accounts are used when receiving payments and will appear as options in your system payment accounts are typically numbered between 1000 1100 adding a new payment method to add a new payment method, click new payment method a modal will appear with the following fields payment account code – enter a unique code for the payment method payment account name – enter the name of the payment method (e g , "visa," "cash," etc ) press add , and the new payment method will be added to the list of available options revenue accounts in the revenue accounts section, you can define the accounts associated with each charge these accounts categorize income from various sources, such as tuition or registration fees revenue accounts are typically numbered between 4000 4500 adding a new revenue account to add a new revenue account, click new revenue account a modal will appear with the following fields account code – enter a unique code for the revenue account account name – enter the name of the revenue account (e g , "tuition," "registration fees") click add , and the new revenue account will appear in the list sales discount accounts in the sales discount accounts section, you can define accounts related to discounts, such as scholarships or promotional discounts these accounts are typically numbered between 4950 4999 adding a new sales discount account to add a new sales discount account, click new sales discount account a modal will appear with the following fields account code – enter a unique code for the sales discount account account name – enter the name of the sales discount account (e g , "scholarship / grant," "promotional discount") click add , and the new sales discount account will be added to the list tax accounts in the tax accounts section, you can define the tax types that will be available for use when adding taxes to charges or invoices these accounts are typically numbered between 2000 2999 adding a new tax account to add a new tax account, click new tax account a modal will appear with the following fields tax account – enter a unique code for the tax account tax name – enter the name of the tax (e g , "hst") tax rate – enter the tax rate (e g , "13 00" for hst) click add , and the new tax account will appear in the list as a selectable option in a dropdown when adding taxes to charges or invoices