System Settings - Control Accounts

 

Simplified menu - Click Settings, System Settings

Standard menu - Click  Settings, System Settings

Classic menu - Click System, System Settings

 

Control accounts are general ledger accounts in your Chart of Accounts which are used to reconcile your general ledger with your clients/matters.  The Control Accounts tab enables you to configure and modify your control accounts.

 

The control accounts your system requires depends on the accounting method you use, which in turn depends on how your firm records revenue and expenses.  You must select the appropriate accounting method before beginning data entry, and you will not normally need to modify your accounting method or control accounts again.

  1. Click the Control Accounts tab, and click Edit .

  2. In the Revenue Type field, select the letter corresponding to the accounting method you will use.  Select C to use the Cash accounting method.  Select M to use the Modified Cash accounting method.  Select B to record billings as revenue.  Select W to record work in progress as revenue.

  3. For each control account, enter the appropriate general ledger account number by referring to your Chart of Accounts.  Press F5 to display a list of general ledger account numbers to choose from.

  4. Click Save image\save20x20.gif.

 

System Settings

System Settings - Documents

System Settings - Tax Settings

System Settings - Memorized Transactions

System Settings - Billing