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GL Account Setup GL Accounts

Action: ACCTSETP

This form consists of three tabs of information that is utilized to turn on/off payment tender types used via the ticket Payment form, Paid -In/Out accounts description editing utilized via the Paid in Paid out forms and the option to modify ProfitSystem© account numbers for specific ProfitSystem© Revenue report detail lines (please coordinate with BBL Tech Support BEFORE making any changes to existing ProfitSystem account names/numbers) . In addition, via the 'accounting method' field,the timing of revenue/sales tax realization is set.

Setup Tab

Payments accepted section. In this section check the tender types that will be accepted for payments. Un-check those that will NOT be accepted.

Next to each tender type is a check box in the Open cash drawer column. If a cash drawer is attached to the register, it will only open if the corresponding option is checked for the tender type. * Cash... * Visa... * Discover... * AMEX... * Optima.... * Other credit cards...Other credit card receipts. This can be used for any tender type not defined elsewhere. * Master Card...Master Card receipts. * Gift certificate...If accepted customers must be able to redeem & ProfitSystem allows redemption via the payment form. * Checks... Standard paper checks that are deposited in the store's bank deposit. * Electronic Checks... Electronic Checks or Electronic Deposit checks are checks that are processed thru a check terminal which reads the check and makes an electronic deposit to the stores business account. The paper check may be returned to the customer. * Store Checks...A check the store may write to a customer for a refund.. * Debit.. Debit card tendor. The Debit option requires another setting for it to appear. Each Register must have a pin pad port number assigned. Once done the DEBIT tendor button will appear. You do not have to have electronic payment integration turned on. If fact you cannot use this payment tendor if you do have integration without having real pin pads connected. * Extra Payment Types (Two allowed)...Simply type in a short description of the tender type being accepted. For example, Store Card. A ProfitSystem account number must be assigned to the optional Payment Types on the ProfitSystem accounts tab. Two default ProfitSystem account names/numbers exists for this use, User 1 & User 2.

Accounting method...The accounting method controls when ProfitSystem® realizes a sale as revenue, and consequently when taxes and cost are realized. ProfitSystem® comes with the Cash accounting method selected. As part of the installation and authorization process, you can select a different accounting method. Changing the accounting method after ProfitSystem® has been in use requires assistance from BBL Customer Service. ProfitSystem® supports three different methods of accounting.

  • Cash: The Cash method will accumulate all revenue (sales), taxes and costs as the items are sold, regardless of the balance of the transaction. The ticket balance does not have to be zero in order for the sales figures to be accounted for. Balances are considered Receivables.
  • Ticket Zero: This is the opposite of Cash. The ticket balance must be zero before any revenue, taxes or costs are accumulated. This method treats payments on tickets as sale deposits. Once the item is paid in full, all previous payments (deposits) are released.
  • Pickup: This is similar to Ticket Zero, except that revenue, tax, and costs are released and accounted for when the customer takes the merchandise out of the store.

Pickup Accounting Notes This method requires operator discipline since ticket items must be manually marked with a TAKEN status when the customer removes the item from the store. If sales are not marked taken by a operator then revenue will not be realized.

Also, users may mark an item taken before it is paid for. The system provides a warning that this is occurring, but most users over-ride this warning. In this case of the item being TAKEN before being paid, ProfitSystem will not realize the revenue until the balance of the item is paid.

Note: This balance paid requirement also applies to Rental revenue for rental orders created with the optional WinTPOS module. Revenue will not be realized at pickup time if it has a balance due. It will realize the revenue once the ticket is paid in full after it is marked picked up by the customer.

  • Cash to retain in drawer...Obsolete and not used.

When Accounting Integration is enabled, the Accounting Integration option fields are available. See Accounting Integration Setup for more details.

  • Accounting Integration... accounting integration setup fields will appear whey the optional accounting integration module is installed. Please review Quickbooks Setup or Peachtree Setup for more information on how to utilize these fields.
  • Suffix for all Accounting Integration export GL Numbers...The number entered here will be appended to the GL export number defined in the Chart Of Accounts when a GL export is performed using the ProfitSystem Accounting Integration. When exporting GL figures using the ProfitSystem Accounting Integration, ProfitSystem uses the Export GL numbers defined in the Chart Of Accounts. Additionally, ProfitSystem will append the number entered here to the export GL number. This is done when the GL numbers used for export need to be different for each store performing an export.
  • Flip sign on QB deposits... When exporting the total for a ProfitSystem accounting class, the system looks to see if ProfitSystem Chart of Accounts account code being exported is assigned to any Accounting Class as a AR/Deposit account. This setting applies to these AR/Deposit assigned ProfitSystem Chart of Account codes and are referred to as deposit accounts.
  • By default (unchecked) the deposit dollar amount is exported as a positive number when collected and a negative number when released. Depending how the QuickBooks account is utilized within QB (an accountant setup decision for QB) the accountant may prefer for the collected total to be negative and the released total to be positive. Checking this option would accomplish that.

This tab allows management to dictate the descriptions of Paid In and Paid Outs. A Paid In or Paid Out should be logged via the ProfitSystem© Register->Paid In and Register->Paid Out forms. This is a software tool to track money going in or coming out of the store's cash drawer for authorized reasons. Paid In/Outs are listed on the Revenue report.

For most users, there is no reason to change the paid-out account numbers, or the paid-in Account/GL number.

  • Paid out 1-10 description...When you choose to do a paid out via the Paid-Out form (located at Main->Register Functions->Paid-Out PAIDOUT) you have to select what the paid-out is being used for. The names of those paid-outs are defined here. You can change the names, as you need to.
  • Paid-out 1-10 Account...When you do a paid-out, ProfitSystem® deducts the amount of the paid-out from the Cash account, and adds it to the account code for the paid-out selected.
  • Paid-in GL/Account...When you do a paid-in, ProfitSystem® adds the amount of the paid-out from the Cash account, and deducts it from the account for the paid-in account.

ProfitSystem© Accounts Tab

ProfitSystem© account numbers are created within the Chart of Accounts form. A system setting in Main->Housekeeping->General Setup->System/Store Setup->Options called Allow editing of ProfitSystem account numbers? must be checked to allow modifications to the ProfitSystem© account codes.

The following accounts are linked to tender types for store receipts. Each corresponds to a tender type button on the payments form (SELEPMTS). When you take a payment (or give a refund) a posting are made to the specified account. These accounts are totaled at the top of the Revenue report, in the Receipts section.

Note If you choose to change the account numbers for tender types, you must be sure not to use the same account for two tender types. If you do so, payments taken for either tender type will show up under both tender types on your revenue report, overstating your receipts for the day.

Miscellaneous Accounts

  • Cash Over/Short...If you are closing a register and you enter a cash count which differs from the cash count shown, ProfitSystem® will make a posting to the account specified for the over/short account. This provides a record of the fact that the cash was off for the day, even though this posting does not affect your receipts for revenue for the day.
  • Returned checks...If you use the Returned check tender type on the payments screen, the monies are posted to this account and shown in the receipts section of the Revenue report.
  • Damage Waiver...Revenue realized from rental damage waivers will be posted to this ProfitSystem© account number.
  • Store credits (unapplied payments)...When you attempt to save a Ticket that has a negative balance (that is, you owe the customer money), ProfitSystem® converts the balance into a Store Credit. When this occurs, ProfitSystem® makes a posting to this account code. This account is shown on your Revenue report in the Cash Register section along with other deposits/revenue.
  • Security deposit...When you take a security deposit from a customer, using the Security Deposit button on the Ticket form, the amount is posted to both the receipts account for the tender type used, and this account. This account is shown on your Revenue report in the Cash Register section along with other deposits/revenue.
  • Security deposit revenue...When a customer forfeits a security deposit, using the Security Deposit button on the Ticket form, the security deposit becomes revenue for your store. The monies are removed from the Security Deposit account and are posted to this account. It is shown on your Revenue report in the Cash Register section along with other deposits/revenue.
  • Security deposits used as payments...If a customer chooses to use their security deposit as a payment toward a balance due, which is done the Security Deposit button on the Ticket form, the monies are removed from the Security Deposit account and are posted to this account. It is shown on your Revenue report in the Cash Register section along with other deposits/revenue.
  • Store credits used as payments...If a customer chooses to use a Store Credit as a payment toward a balance due, the monies are removed from Store credits account and are posted to this account. This account is shown on your Revenue report in the Cash Register section along with other deposits/revenue.

When Accounting Integration is enabled, extra fields are displayed. See Accounting Integration Setup for more details.