An accounting entity is an entity that can have ledgers and be used for general accounting logic based work.
During the entity wizard there is an option to make the entity an accounting entity as well. This process can be performed afterwards from the edit menu, but is performed in a different way. This section covers changing this setting from both options.
Setting during entity wizard:
During the entity wizard the last page now display a check list of options (as shown below).
If the accounting entity option is chosen then some additional accounting options are advised for configuration. The following pictures represent the screens of the wizard:
| • | The wizard will ask for a contact record to upgrade, but this should be pre-selected based on the entity wizard. |
The user will then be prompted to configure an accounting period, this screen should be populated as required including both the period start and end dates as well as selecting the nominal accounts to be created at this point;
Following this, the user will then be asked for the default bank details, please set these settings as required including nominal account of the bank and account details.
Note: A bank account entity/contact must have already been created to configure this.
Finally, the user will be asked to configure the control accounts and any entity security that is required. Not assigning security at this point could prevent access at a later point. Once this screen has been completed, pressing 'finish' will complete the wizard.
Note: After an accounting entity has been configured, it is advised to log off and back on before re-editing or configuring additional items.
Setting an accounting entity from the edit entity section:
From within the entity wizard the accounting entity option can be selected from the right hand side (shown below)
