The Accounting Preparation and Setup set of videos will help you determine which functions need to be set in in the accounting configuration section of CircuiTree. Please note that some of these are required for your organization (like company division and cost centers) while others may be optional (like scholarships and discounts.)
Must be created before further accounting practices can take place
These categories are used to classify your transactions. CircuiTree uses several of them in its default creation (category 8 for account payments, category 20 for tuition charges, etc.). You can also create custom categories for your own transactions.
In order to use various types of payment, they need to be set up in CircuiTree (including cash and checks.) You can associate GL codes with these payment methods as well as enter the information necessary for CircuiTree to interact with your credit card processor or electronic check payment processor.
- Managing Company Payment Processors
- Setting Up Credit Card Processor
- Setting Up ACH Processor
- How to Associate Company Divisions with Payment Processors
Many organizations have multiple camps for which they wish to keep accounting information separate even for the same activity (like registrations or payments). Cost centers help achieve this.
CircuiTree allows you to associate GL codes with certain sets of economic activity in order to coordinate importing that information into your main accounting system. GL codes are associated with cost centers and a combination of AR category, donation fund, inventory department, or charge department.
CircuiTree allows you to create discounts that can be applied either automatically in accordance with certain rules that you define or as a manual discount that can be applied as needed by your staff. You can also use this tool to create discounts that customers can activate by entering a code on the web.
CircuiTree will let you create scholarships that can be applied to individual registrations and connected to particular donation funds. Scholarships can either be limited to certain amounts for the entire scholarship or per recipient (or have no limits at all).