Using NolaPro > Admin > Setup - Billing
Receivables General Setup
Use this chapter to enter/update standard posting accounts to be used by Accounts Receivable when posting data to the General Ledger.

  1. From the Main Menu, select Admin -> Setup Receivables -> General Setup.

  2. Your screen should look similar to this:

  3. Complete the information in the following categories:

    1. Cash: When entering CASH receipts, this is the GL account to be posted to.

    2. Checking: When receiving CHECKS, etc., this is the GL account to be posted to.

    3. Interest Income: This account is only used if the customer PAYS interest. You may accrue interest on their account that they do not pay.

    4. Discount Given: If you extend discount terms to your customers, this is the GL account that should post to.

    5. Cost of Goods Sold: The default cost of sales account. (you can enter another number at the time of invoicing if desired).

    6. Inventory: When you enter cost of sales, the opposite entry to that in the GL is inventory (inventory reduced, cost of sales increased).

    7. Shipping Liability: Shipping charges are pass-through amounts. The customer pays them, but you then pay UPS or whomever. This is the Payables account for shipping.

    8. Receivables: Open Account invoices post originally to this GL account, and when the invoice is paid, it reduces this account (which is an asset account).

    9. Bad Debt: The default account used for Bad Debt entries.

    10. Customer Deposits: The default account when a customer puts a deposit down on an order.

    11. Sales Refunds: Checks written to refund credit balances will be posted to this account.

    12. Restock Fees: Where restock fees collected should be posted.

    13. Service Sales Labor GL Account: The default account for Labor entries on Service Orders.

  4. Click the Save button to save changes.
  5. Click the Add New GL Account button to add new GL Accounts.