The Financials feature relies on two sets of settings that you apply in the Account section of your Admin Dashboard on the overall Settings page.
Effective Starting Date for Financial Transactions
Set the Effective Starting Date to establish the beginning date for the values of your accounts.
Auto-Create System Transactions in Financials
The Financials feature can pick up data from invoices and payments that flow through your website. Activate this toggle switch to prompt the system to add online invoice and payment data to the Financials feature. If you do not wish to include invoice and payment details in the Financials feature, do not activate this toggle switch.
You will need to set up the Chart of Accounts in Financials before you can access and enter the following settings.
Auto-Creation Start Date
Set the date from which you want the system to add invoice and payment data to the Financials feature. Note that this date can be later than the Effective Starting Date for Financial Transactions, but it should not be earlier. If you do not wish to include invoice and payment details in the Financials feature, do not enter a date in this field.
Organization Name
Initially, this box displays the name of your organization as it is entered in the Admin Dashboard on the Account tab’s Organization Info window. If you wish to use a different name, you can edit this value in the Chart of Accounts. This will not affect the name that is displayed on the Organization Info page. (Note that the Organization Name appears only after you enter an Auto-Creation Start Date, select a Payment Account and an Account, and click on the “Save Changes” button. These additional settings are discussed elsewhere in this topic.)
Payment Account
Select the account that processes online payments for your community. If you activate the Auto-Create System Transactions in Financials toggle switch, this information is required. all system payments (for dues, event registrations, amenity reservations, and One-Time Charges) will be assigned to this one account. If you wish to change this name, edit it in the Chart of Accounts list.
Account
Select the account to which you want to assign all auto-created system transactions. If you activate the Auto-Create System Transactions in Financials toggle switch, this information is required.