How to set or edit Accounts Preferences
The Accounts system requires that you set a number of preferences and default details. To set the Accounts Preferences, follow these steps:
1. Open the Accounts Preferences window
To access the Accounts Preferences you can either use the Accounts Setup Tool or launch from the main menu.
If you haven't yet completed the Accounts Setup tool, you can set your Accounts Preferences from the Accounts Setup tool. To access this click the Accounts button in the main toolbar and then select 'Accounts Setup'. For instructions on how to use the Accounts Setup tool please see: How to use the Accounts Setup Guide.
When the Accounts Setup tool opens, click 'Set Accounts Preferences'.
Now go to the Accounts tab.
2. The Accounts subtab
The Accounts subtab allows you to set the program level preferences for how the Account system is to work.
2.1. Accounting Basis
First, select whether you run your accounts on a Cash or Accruals basis. You will need to obtain advice from your accountant to determine which accounting method you use.
2.2. Lock Start Date
Next, you can optionally, select a date to lock the accounts to. This option limits the ability to create transactions on or before this date, and can be useful if a bank reconciliation has been performed and you wish to prevent users from entering transactions that would render the bank reconciliation invalid.
Note: If you select a lock date, users will not be able to create transactions on or before this date unless they have been given permission to do so in the User-Level preferences. The exception to this is fees and costs, which are not affected by the lock date because they don’t affect the bank reconciliation
2.3. Invoice Due Dates
The Invoice Due Dates setting allows you set the default due date for all invoices generated. Note that this can be over ridden on case by case and an invoice by invoice basis.
2.4. Default Tax Codes
Next set the Default Tax Codes which will apply in the listed circumstances.
2.5. Default Bank Accounts
Next you will need to specify your default Client and Office Bank Accounts.
2.6. Credit Card Surcharges
If you wish to record details of the relevant Credit Card surcharges that apply to money you receive or Immigration Application payments you make, insert this information. You can also set what the default method of payment is for Department payments
2.7. Charge Code for Disbursement Surcharges
When you generate a disbursement that includes a credit card surcharge it will create a separate line item for the credit card surcharge. This field is used to specify what charge code you want to use for this surcharge. For instructions on how to set up this Charge Code see: Credit Card Surcharge Disbursement Settings
2.8. Auto Numbering
If you have existing invoice numbers, receipt numbers, etc and you want Migration Manager to use numbers that follow on from your existing numbers, enter your last transaction numbers in the Auto Numbering section. For example, if your last invoice number is 1567 and you want the first invoice created in Migration Manager to have a number of 1568, enter 1567 as your ‘Last Invoice No'.
3. Trust Accounting/Time Billing
If you require Migration Manager to operate as a Trust Accounting program or if you want to use Time Recording/Billing, you will need to set the relevant settings on this sub tab.
3.1. Enforce Trust Account
See How to setup Migration Manager for Trust Accounting for more details on how/why to enforce the Trust Accounting Requirements
3.2. Time Billing
See How to set up Billing Units for details on how/why to set the billing units.
3.3. Statutory Deposits
If you are required to operate a Statutory Deposit Account, see How to set up your Statutory Deposit Account for further details.
4. General Ledger Codes
The General Ledger Codes sub-tab is used for setting up the Migration Manager Xero integration. For full instructions on how to set up the Xero integration see: Set up Export to Xero
If you are registered with an Australian financial institution as a BPAY Biller, the BPAY sub-tab contains the settings for enabling BPAY in Migration Manager. For full instructions on how to enable BPAY, see: BPAY Settings
The Documents sub-tab allows the user to set the default Accounts document merging settings. You will need to:
1. Choose a default file type to use when invoices, receipts and statements are merged.
- PDF: the documents merged will only appear as a PDF document. This document can not be amended after it has been merged. This document will be saved in the Documents tab.
- Word Document: the document will appear as a fully editable Word document. This document will be saved in the Documents tab
2. Set the default templates to be used when merging different types of invoices. For full details on how to set the default Accounts Templates see: How to set Default Accounts Templates