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Set Up Multiple Charts of Accounts by Company

Updated

What this does: Sets up a separate chart of accounts for each company, such as your association and your foundation, so fee items and billing reports track the right entity.

Applies to: GrowthZone Finance. You need billing administrator access.

Before you start: Have the company details, or a completed import template, for each entity you want to track.

Time needed: About 30 minutes.

Set up a chart of accounts for each company

  1. Go to Finance, Administrative section, click Billing Settings and select Chart of Accounts.
    Chart of Accounts page with Billing Settings boxed in the Administrative section of the Finance rail
  2. Under the Chart of Accounts section, you will see a section titled Company. There are two ways to add Company information. In the right-hand corner, there is an Add button and drop-down.
    • To add Company information manually, click the Add button in the right-hand corner.
      Chart of Accounts page with the ADD button in the upper right-hand corner boxed
      • Here, you can add your Company information on Add Account. Once complete, hit the Done button.
        Add Account window with the Company field completed and the Done button called out
    • If you select an account name, you can also populate the Billing Company on the Edit Account screen.
      • Here, you can assign an existing Company to a Chart of Account item. Click Done to save.
        Edit Account screen with the Billing Company drop-down and an existing Billing Company selected
  3. To import Company information, click the drop-down option next to the Add button in the right-hand corner and select Import Accounts.
    Chart of Accounts page with the ADD button drop-down expanded and the Import Accounts option boxed
    • Here, you can import the Company name and information through a template that will populate your Company information.
      The Import Chart Of Accounts window showing the Choose File control and the spreadsheet requirements
  4. Once the Company information is created manually or via import, you can click on the Add button drop-down and then Companies to see the Chart of Account Companies pop-up.
    Billing Companies pop-up listing the configured Billing Companies, with the Billing Companies option in the ADD drop-down called out
    • On this screen, you can edit your account name, add new Companies, or remove old Companies.
  5. Once you refresh your Chart of Accounts page, you will be able to see all changes reflected under the Chart of Accounts and the Company section.

Assign fee items to a company

  1. Go to Finance, Administrative section, click Billing Settings, and select Fee Items. The page opens as Saleable Items.
    The Fee Items page — it opens as Saleable Items — with Billing Settings boxed in the Administrative section of the Finance rail
  2. Select a Name to see the Edit Fee Item pop-up screen.
    The Saleable Items list with a fee item Name link boxed
  3. Scroll down to Income Account. You can select the Company account you would like associated with the fee item using the drop-down menu and selecting a pre-existing Company.
    Edit Fee Item window scrolled to the Income Account drop-down, expanded to show the available Company accounts
  4. If you would like to add a Company rather than choose a pre-existing Company, click on the plus sign button next to the Income Account section.
    NOTE: The plus sign appears only while Income Account is still empty — that is, on the Add Fee Item window, or on an existing fee item whose income account has not yet been set. Once the field holds an account, the button is hidden.
    Add Fee Item window with the plus sign button beside Income Account boxed The Details block of the Edit Fee Item window, showing the Income Account field and the only plus button in that block, beside Product Tax Category
    • Here, you will see an Account pop-up where you can add your Company information manually.
      Account pop-up with the Company information fields ready for manual entry

Filter billing reports by company

  1. Go to Finance, click Billing.
  2. Under Accounting General Ledger on the right-hand side of the screen, Billing Company has been added as a field to display and a filter criterion for the list of reports.
    Accounting General Ledger report panel on the right-hand side of the Billing screen, with Billing Company boxed in both the fields to display and the filter criteria
  3. This Billing Company display can be used for various reporting purposes. For example, if you want to just run the Accounting Summary report for your foundation or your association, you can choose to. Another example is that, |on the Accounting Transaction Export, you can batch export to a specific Billing Company.
    Accounting Transaction Export criteria screen with the Billing Company selector boxed for a batch export

Common pitfalls

  • Forgetting to assign a Company to fee items: If a fee item’s Income Account is not tied to the correct Company, its transactions won’t roll up under the right Billing Company in your billing reports. Set the Company on each fee item before you rely on the Account Company filters.

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