Sub-accounts
To create General Ledger Sub-accounts, navigate to Settings >Billing > GL Sub-Accounts.
Set up your GL Sequence
You can create General Ledger Sequence using six different segments. You can choose one to six of the segments, and you can order them any way you want to. You can also choose a character you want to use to separate the segments in the export file.
The Publication segment adds the Finance Info Code from the Publication.
The Product segment adds the Finance Info Code from the Ad Size or the Service.
The Account segment adds the GL Sub-Account code that corresponds to the transaction. These accounts include Sales, Accounts Receivable, Cash, etc.
The Media segment adds the Media Sub-Account code. This is determined based on the type of publication, (Print or Digital), or if the invoiced item is a Service.
The Publisher segment adds the Finance Info Code from Publisher.
The system uses the Publisher that is associated with the invoiced Publication.
The Year segment adds the current GL Period Year.
The invoice GL summary export will include every part of the sequence and the balancing transaction.
Sub-accounts
You can create General Ledger Sub-accounts using six different fields. You can choose one to six of the sub-accounts, and you can order them any way you want to. You can also choose a character you want to use to separate the sub-accounts in the export file. To create General Ledger Subaccounts, navigate to Settings > Billing > GL Sub-Accounts.
Organization or Publisher
The Organization or Publisher field can be added or removed from your string. The Organization or Publisher string will add a value based on the ad or service on the invoice. Add your code to the Finance Info field on your Organization or Publisher. Your transactions will include the Finance Info api entered on the Organization or Publisher page.
Publication
The Publication Sub-account in the General Ledger Sequence will pull in the GL Codes from the Ad or Service sold. The publication will show up in the Sales and Accounts Receivable Transactions. You can set up a code for each publication you have in the system. You must add the publication field to the GL Number Sequence in order to pull in the Codes. Your Publications can have the same code. Your transactions will include the Finance Info.
The Product
The product Sub-account in the General Ledger Sequence will pull in the GL Codes from the Ad or Service sold. The Product will show up in the Sales and Accounts Receivable Transactions. You can setup a code for each product you have in the system. You must add the Product field to the GL Number Sequence in order to pull in the Codes. The Product field can be added or removed from your string. The Product string will add a value based on ad or service on the invoice. Add your code to the Finance Info field on your Ad sizes. Your Ad Sizes can have the same code. Add your code to the Finance Info field on your Services. Your Services can have the same code. Your transactions will include the Finance Info from the Ad or Service.
Media
The Media Sub-account in the General Ledger Sequence will pull in the GL Codes based on the type of the Transaction. You must add the Media field to the GL Number Sequence in order to pull in the Codes. The Media field can be added or removed from your string. The Media string will add a value based on the type of publication you bill or if you are billing services. You can add on code to each field or have the same code in all fields.
Accounts
The Account Sub-account in the General Ledger Sequence will pull in the GL Codes based on the type of the Transaction. The Account will pull in from your Payment codes when you apply a payment towards an invoice. The payment will balance against your Accounts Receivable transactions. You can set up a code for each Payment type or use the same code for all fields. The Account will use codes in the Credit section when a user refunds a payment already made to an invoice. You can set up a code for each Credit type or use the same code for all fields. The Account will use codes in the Refund section when a user refunds a payment already made to an invoice. You can set up a code for each Refund type or use the same code for all fields. The Account will use the Sales and Receivables when Invoices are created and Payments are received. Any created invoice for the Publisher will Credit Sales and Debit Accounts Receivable. When Payments or Credits are applied, the balancing action will happen to both accounts.