Accounting Setup

Set up a label for EFT Refunds

1. Type Labels in Menu Search and select Setup + Property Options + Labels
2. Select Accounting
3. In Direct Credit 2 type EFT Refund
4. Select Save & Exit

Account Defaults

Setup + Accounting + Accounting Options

1. Select Account Defaults and set the following:
2. Accounting Method: Cash Accounting
3. Financial Year Ending: June
4. Select Save

Account Screen

1. Select Account Screen on left
2. Select Split Accounting Required
3. Select Save

GST Options

1. Select GST on left
2. Show GST Amount Separately on each transaction
3. Tax Option: Tax Inclusive
4. Full GST Rate. Divide total change by: 11.00000
5. Concessional GST reduction %: 5.21327
6. Concessional GST reduction after: 27
7. GST Calculation: Calculate GST on all rental(Apply Subdivision 40-B)
8. Select Save

Receipt Types

1. Select Receipt Types
2. Select Cash
3. Credit Card
4. Cheque
5. Direct Credit
6. EFT Refund
7. Select Save

Receipts and Statements

1. Select Receipts and Statements
2. Select When Printing Receipts only Show Credits
3. Select Save

Reporting

1. Select Reporting
2. Select Banking Summary Show Properties
3. Select Save

Reservation Rules

1. Select Reservation Rules
2. When Departing a Reservation: Warn on Departure if Account is Active
3. When Cancelling/No Show a Reservation: Warn on Cancel if Account if Active
4. Select Save

Tariff and Rent Options

1. Select Tariff and Rent Options
2. Turn on: ON RES CREATION - VERY IMPORTANT
3. Make sure that Round Rent Up or down to the nearest 5 cents is not ticked
4. Save

Tax Invoice

1. Select Tax Invoice
2. Select One Tax Invoice per Account
3. Select Show Receipts on the Tax Invoice
4. Select Save & Exit

Owner Accounting Options

Setup + Accounting + Owner Accounting Options

Account Options

1. Enter ABN number

2. Save

Bank Account Details

1. Select Bank Account Details
2. Complete the General Account Information
3. Complete the Trust Account Information
4. The Direct Entry User Code is essential
5. Transaction Description is necessary - (the EFT File will fail to create without it)
6. Select Save

1. Select Owner Accounting
2. Select Create EFT file for Client Refunds
3. Select Include Adhoc in Manager Expenses
4. Select Tariff GST Free if Area Owner
5. Select Do not use Owner Occupied Status
6. Select Pay Owner/Manager as of Trust Date
7. Under Default Pay Owner Method select Pay Owner - On Departure
8. Pay Owner on Arrival if Res staying 28 night or more should be off until you discuss with the client
9. Select Save

Owner Statements

Set up Grouping for Management Fees on Owner Statements

1. Setup + Lookup Tables + Grouping press the + sign to add
2. Under Heading put in MngFee
3. Select Save & Exit

Prepare the GL Code for Trust Grouping

Setup + Accounting + GL Acc Code

Check if a Management Fee GL Code exists - if not please create one and also create a sundry linked to this GL Code

1. Open Management Fee GL Acc Code
2. In Trust Grouping enter MngFee
3. Save & Exit

Setup Placement of Management Fees in Income Section on Owner Statements

Setup + Accounting + Accounting Options + Owner Accounting Options

1. Select Owner Statement on the left menu
2. In Column 1 under Owner Statement, select MngFee
3. Setup future bookings on Owner Statement - Select “Show Future Bookings up To” Set date well into the future
4. Select "Show Trust Charges Separately on Statement" (we need to discuss this with the client - when cleaning or linen is included in the tariff then this will cause the tariff and cleaning to be shown separately on the statement)
5. Select Save

1. Select Trust Options and turn on:
2. Trust Account Required
3. Each Area must have an Owner
4. Pay Owner/Manager as of Trust Date
5. Default All Receipts to Trust
6. Default Credit Card Receipts to Trust
7. Print Duplicate Receipts
8. Write Receipts Individually to Bank Reconciliation
9. Select Save & Exit

Next go to Field Maintenance

Or go back to the RMS Setup Checklist