Set Up Revenue Accounts

The Account page allows authorized users to create the account element part of the general ledger account number. To set up a revenue account, follow the steps below:

1. Go to Maintenance > new world ERP Suite > Chart of Accounts > Accounts.
2. On the Account List page, click Search. A list of accounts appears on the screen. The maintenance buttons also appear at the bottom of the page (i.e., New, Delete, Refresh, etc.).
3. Click New to create the account element part of the general ledger account number. The General tab on the Account page is displayed. The account type will default to Asset. To edit an existing account, click the account number hyperlink to open the Account page.
4. In the Type drop-down list, select Revenue.
5. In Account Number, type the number associated with the account being added, for example: 4005.
6. In Account Description, type the description associated with the account being added, for example: Property Tax.
7. In Sub Account Number, type a code for your sub account, for example: 05. This information is optional.
8. In Sub Account Description, type a description for your sub account, for example: Residential. This information is optional.
9. Select the Budgeted check box if the account is a budgeted account.

10. Select the Subject to 1099 check box if this account is subject to 1099 processing.
11. In the Classification drop-down list, select the applicable classification by clicking on the down arrow and selecting the application item from the list.
12. In the Type drop-down list, select the applicable Revenue Type/Source by clicking on the down arrow and selecting the item from the list.
13. Click Save/New after you type an entry and want to add another account. Click Save after you type the last entry.
14. Repeat the above steps 4-10 until all Revenue Accounts are entered.

Click Reset at any time to return to the previous state the page was in when the page was last saved.

See Also

Account List

Fund Equities

Expenses