Set Up Revenue Accounts

Introduction

Before reading this article, we recommend taking a look at our help article on Invoicing to familiarize yourself with how invoicing works in OfficeRnD, and how Accounts tie to that.

Contents

• Accounts Settings

• Creating an account

• Remove an account

Accounts Settings

The Accounts settings can be found by navigating to Settings/Billing/Accounts. It offers the following functionality:

1. Add a new Account

2. Remove an Account

3. Modify an existing Account

By default, there are four types of accounts: Booking fees, Deposits, Membership fees, and One-off fees. You can also define custom account types.

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.

Adding a New Account

To create a new account, navigate to Settings/Billing/Accounts and click on the Add Account button on the top right corner of the screen.

You can set up the following properties for a new account:

• Name - the account name.

• Unique code - (Optional) can be used for specific tasks handled by the OfficeRnD development team.

• Description - (Optional) the account description.

• Default for - this field will appear only for default accounts *. In the field, you'll be able to see the item for which the account is created (bookings, fees, etc.)
  * You can distinguish the default accounts by the padlock icon next to their name. 

• 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 on the Add button.

Removing an Account

To remove an account from the Accounts section, click on the cogwheel next to it and choose Delete.

Editing an Account

To modify an account from the Accounts section, click on the cogwheel next to it and choose Edit.