What are Setup Type Accounts?
There are features and functions in AcctVantage that automatically use certain GL Accounts that are assigned as Special Accounts. Only a small percentage of your accounts will have a Setup Type assigned and they are generally assigned during the initial implementation of AcctVantage. If you are creating a new account, and think you may need to assign a Setup Type, please consult with Support first.
To define Special Accounts, assign one of the following Setup Type values to the Account card when creating it.
- A - AR Aging
Control Accounts for Client A/R Sub-accounts.
- A - Checking
Cash Accounts processing Receipts and Checks.
- L - Client Deposits
Control Account for Client Deposits.
- A - Inventory
Control Accounts for Product + Warehouse Inventory Sub-accounts.
- L - AP Aging
Control Accounts for Vendor A/P Sub-accounts.
- L - Inventory Holding/Accrued Inventory Payable
Control Account for Vendor Accrued Inventory Payable Sub-accounts (for Voucher processing for Inventory.)
- L - Deferred Revenue
Used to capture sales revenue for Orders that have been Invoiced but not yet Shipped.
- N - Retained Earnings
For accumulation of earnings (there can only be one of these accounts.)