Account Codes in MemNet – MemNet

Every transaction in MemNet has a General Ledger account code associated with it. It may also have a Job Code (MYOB) or a pair of Tracking Options (Xero). These codes are included in the accounting system extracts and reports to allow the transactions to be assigned to the correct general ledger accounts.

Configuring control accounts.
Revenue Account Codes.
Xero Tracking Names / MYOB Job Codes.
Account Codes, "products" and Transactions.

Configuring control accounts.

Under Administration / System Configuration / Company Settings / Accounting you can:

Set the following General ledge control account codes, these may get used on the accounting system extracts:

Revenue control account code (aka debtors control account): This is used on the accrual revenue extract to balance the revenue imported.
Bank account code: payments are recorded to this account code.
Tax Received account code: Account code for Tax (GST)

In addition, you can:

Select the accounting software you are using, MYOB or Xero.
Enable Job Codes or Xero Tracking if required.
The number of days to add to the due date for manual invoices from the day the invoice was raised.

Revenue Account Codes.

You set your list of revenue account codes under Administration / System Configuration / Revenue Account Codes. Each code has a description.

This list should include all of the revenue that will be invoiced in MemNet, this can include; membership subscriptions, events, merchandise, donations and any other products or services to be invoiced to members.

You can delete an account code that is no longer in use. If an account code is assigned to a "product" or used as a default for one of the transaction types listed on Administration / System Configuration / Company Settings then you will not be able to delete the account code.

Xero Tracking Names / MYOB Job Codes.

Xero Tracking Names and MYOB Job Codes are included in the accounting extracts.

MYOB job codes are entered as text next to the selected account code where they are to be used.

Xero Tracking Names have to be set up under Administration / System Configuration / Xero Tracking Names before they can be assigned to a transaction.

Account Codes, "products" and Transactions.

Every transaction in MemNet has an account code. This can be set from the "product" purchased or set per line item when creating a manual invoice. The account code is selected from a dropdown list of account code descriptions. An optional job code or tracking name can also be recorded.

A default account code is recorded for each of the transaction types under Administration / System Configuration / Company Settings, this account code is set by default when a new "product" is created, but can be overwritten in each instance.

Account codes can be recorded in the following places:

Subscription records
Products
Event Registration types and options (the defaults for these are inherited from the event)
Manual invoice creation

Note: "Product" refers to anything that may be invoiced in MemNet