Setting Up Accounts

An account identifies the type of economic activity represented by an accounting transaction. Examples of accounts are Permit Revenue or Advertising Expense.

Account is one of the six segments (fields) that may be specified for each accounting rule distribution line to classify the transaction for financial and operational reporting purposes.

Note: You must specify an account value on every distribution line.

You add, modify, and delete accounts on the Account page.

Adding an Account

1. Select the Setup and Maintenance tile on the Agency Springboard to access Functional Setup Manager.

2. From the Setup drop-down list, select your offering.

3. Select Accounting from Functional Areas and then select the Manage Accounts task.

4. On the Account page, click Add.

5. On the New account drawer, enter values for the following fields:

   Page Element	Description
   Account	Enter a unique identifier for the account.
   Description	Enter a description of the account.
   Account Type	Select a type for the account. Valid values are: Assets Liability Owner's Equity Expenses Revenue
   From Date and To Date	Enter the date range for which the account is valid.

6. Click Save.

Modifying or Deleting Accounts

1. On the Account page, select the account that you want to modify.

2. On the Account details drawer, you can:

   • Update the account field values.

     Note: You cannot edit the Account field.

   • Delete the account. You will be prompted to confirm the permanent deletion.

3. Click Save.