Revenue Accounts in OfficeRnD Flex provide a structured approach to categorize different types of income and optimize your tax processes. By associating tax rates with specific Billing Plans via Revenue Accounts, they apply to all invoiced products linked to that Billing Plan. You can have different tax rates for various types of products or services, providing flexibility in our tax structure. This way, you can achieve better financial clarity and reporting accuracy.
This article will walk you through creating, modifying, and deleting Revenue Accounts, ensuring effective financial management within OfficeRnD Flex.
Before you start
Before you read this article, we recommend you read our help article on Invoicing to familiarize yourself with how invoicing works in OfficeRnD and how Accounts relate to it.
Please review the following diagram to understand what you need before creating a new Revenue Account and how the different entities relate to each other in the system. You can click the image to enlarge it:
Revenue Account settings
The Revenue Accounts settings can be found at Settings > Billing Settings > Revenue Accounts. The following functionality is available:
Add a new Account
Remove an Account
Modify an existing Account
By default, there are five types of accounts: Booking Fees, Deposits, Membership Fees, One-off fees, and Order Fees. You can also define custom account types. Keep in mind the following:
When a line is manually added to an invoice, it will appear under the One-off fees account by default.
By default, all amounts listed in a Deposit field (available when creating and modifying billing plans, memberships, contracts, and assignable resources) go to the Deposits account and are marked as refundable.
Add a new Revenue Account
To create a new account, go to Settings > Billing Settings > Revenue Accounts and click Add Account.
You can set up the following properties for a new account:
Name – The Revenue Account name.
Unique code – (Optional) Can be used for specific tasks the OfficeRnD development team handles.
Description – (Optional) The account description.
Default for – This field will appear only for default accounts (marked with an asterisk *). In that field, you'll see the item for which the account is created (for example, bookings or fees).
Color – This is the color of the tax as it will appear in invoices.
Tax Rate – From the drop-down menu, you can select the tax rate for the new account.
You can create custom tax rates for use with any account - learn how.
To finish the account creation process, click Add.
Remove a Revenue Account
To remove an account from the Accounts section, click the cogwheel 
next to it and select Delete.
Default accounts cannot be deleted. They can be modified, but we don't recommend it as it may cause mismatches between data. In particular, the Deposits and One-off fees accounts are best kept as they are, even if you never use them.
Edit a Revenue Account
To modify an account from the Accounts section, click the cogwheel next to it and select Edit.
FAQ: Setting up Revenue Accounts
What are Revenue Accounts?
What are Revenue Accounts?
Revenue Accounts categorize income types in OfficeRnD Flex, enabling the application of specific tax rates to different products or services.
What are the default Revenue Accounts available?
What are the default Revenue Accounts available?
Default accounts include Booking Fees, Deposits, Membership Fees, One-off fees, and Order Fees. These are marked with a padlock icon and cannot be deleted.
How do I set tax rates for a Revenue Account?
How do I set tax rates for a Revenue Account?
When creating or editing a Revenue Account, choose the appropriate tax rate from the drop-down menu. You can also create custom tax rates for specific account types.
How do I edit an existing Revenue Account?
How do I edit an existing Revenue Account?
Go to Settings > Billing Settings > Revenue Accounts, click the cogwheel next to the account, select Edit, make necessary changes, and click Save.
Can I delete a Revenue Account?
Can I delete a Revenue Account?
Yes, except for default accounts. To delete a Revenue Account, click the cogwheel next to it, and select Delete. Default accounts can be edited but not removed.
Do Revenue Accounts affect how deposits are managed?
Do Revenue Accounts affect how deposits are managed?
Yes. By default, deposit amounts are recorded under the Deposits account and are marked as refundable.
Should I modify the default Revenue Accounts?
Should I modify the default Revenue Accounts?
No, you shouldn't modify the default Revenue Accounts. We recommend leaving default accounts such as Deposits and One-off fees unchanged to maintain data consistency and prevent reporting issues.