How do I configure the Financials feature's settings?

How Do I Configure Financials Settings?

The Financials feature relies on two sets of settings applied on your Admin Dashboard's overall "Settings" page.

1. Click on the Account tab to open it.
2. Click on the Settings tab to view the available system settings.

 Set the Effective Starting Date for Financial Transactions

Set the Effective Starting Date to establish the beginning date for the values of your accounts.

• The date you enter here helps determine the starting balance for the individual accounts you create on the "ADD ACCOUNT" window in the Chart of Accounts.

 Turn On Auto-Created System Transactions

The Financials feature can automatically pick up data from invoices and payments that flow through your website.

1. Activate the Auto-Create System Transactions in Financials toggle switch to have the system add online invoice and payment data to Financials automatically.
2. If you do not want invoice and payment details included in Financials, leave this toggle switch off.
   • You'll need to set up the Chart of Accounts in Financials before you can access and enter the settings below.

Set the date from which you want the system to start adding invoice and payment data to Financials.

• This date can be later than the "Effective Starting Date for Financial Transactions," but it should not be earlier than it.

 Organization Name

This field displays your organization's name as it appears in the Admin Dashboard's Account tab, in the Organization Info window.

• It appears once you've entered an Auto-Creation Start Date and selected both a Payment Account and an Account, then clicked Save Changes.
• If you prefer a different name, you can edit this value in the Chart of Accounts — doing so will not change the name shown in the Organization Info window.

 Payment Account

Select the account that processes online payments for your community.

• This is required if you activate the "Auto-Create System Transactions in Financials" toggle switch.
• All online payments (for dues, event registrations, amenity reservations, and One-Time Charges) will be assigned to this one account.
• To change this account's name, edit it in the Chart of Accounts list.

 Account

Select the account to which you want to assign all auto-created system transactions.

• This is required if you activate the "Auto-Create System Transactions in Financials" toggle switch.

 Save Your Settings

Click Save Changes once you've entered your settings for Financials. If you don't, your changes will not be preserved.