Strategic management of accounts plays a crucial role in unlocking the full potential of Centegra Plus, particularly in areas like reporting and Revenue Management within Centegra Plus. The Accounts Setup tool serves as a powerful resource to configure and manage accounts across the platform. This tool empowers you to streamline your financial processes and enhance reporting accuracy.
Designed to securely handle account information, the Accounts Setup tool provides a central hub for configuring various account settings. Given the sophistication of this feature, it's natural to have questions or encounter occasional challenges. To ensure a seamless experience, we've crafted a comprehensive guide addressing frequently asked questions (FAQs) and providing troubleshooting tips for the Accounts Setup tool.
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Frequently Asked Questions
Frequently Asked Questions
What Are The Different Account Types & Account Groups?
Account Types
There are many types of accounts that can be added into the company Chart Of Accounts. The table below summarises what each type of account is typically used for.
How you set up accounts depends on your needs. Some accounts are only needed at the company level, while others, marked with "S" in the table, require specific accounts for each individual site. Accounts marked with "C" below don't typically need site-specific counterparts. This flexibility helps you tailor your chart of accounts to suit your company's structure and streamline your financial management.
| Type | Description | |
| Bank |
For use within the Revenue Management module, a Bank type account represents an account that payments received are deposited to. Typically, you would have a Bank type account for each method of payment received through sales. |
S |
| Cash |
For use within the Revenue Management module, a Cash type account represents an account that holds cash within a site. Cash type accounts typically represent a cash holding account within site, to hold cash counted in a cash up that is yet to be deposited to the bank. Cash type accounts may also represent a safe float, till drawer floats, petty cash float and so on. |
S |
| Cashier |
For use within the Revenue Management module, a Cashier type account is specific to the Cashier Counts Feature, and is only required for this feature. |
S |
| Control |
For use within the Revenue Management module, a Control type account represents a holding account within a site. Typically, this is required only when reconciling petty cash declared through the till (and confirmed via cash up) against a Cash Purchase declaration. |
S |
| Float |
This type of account is deprecated. For float accounts, use account type Cash. |
S |
| Overhead |
An Overhead type account is typically used for purchasing, and gets assigned to a product group to flag all products within that group as overhead items. For use within the Revenue Management module, this allows you to build a list of overhead items to 'purchase' when reconciling petty cash against a Cash Purchase declaration. For use within the Inventory Management module, this allows you to assign Supplied type products within a group as overheads, so as to exclude purchases of these products from period margin and GP calculations. Also within the Inventory Management module, this allows you to place orders for stock type Other products, for products that should be excluded from inventory, i.e. stock period counts and results. |
C |
| Purchase |
A Purchase type account is used as part of the Inventory Management module, and gets assigned to a product group. This associate purchases of products within the product group against the purchasing account code, and is typically used for downstream integrations. |
C |
| Sales |
A Sales type account gets assigned to a product group, to associate sales of all products within that group against the account. This is typically used for downstream integrations. A specific "Over/Short" Sales type account is also used as part of the Revenue Management, to adjust sales within Revenue Management reporting based on any cash up or period over/shorts. |
C |
| Stock |
This type of account is deprecated. |
C |
| System |
System type accounts are required within the Revenue Management module, and are typically configured as part of the onboarding process. |
S |
| Till |
This type of account is deprecated. |
S |
Account Groups
There are three types of account groups that accounts are assigned to within the company's Chart Of Accounts. The table below summarises what each group represents.
| Group | Description |
| Current Assets |
For accounts related to tangible assets (e.g. Cash, Deposits etc.) |
| Sales |
For accounts related to sales (e.g. Sales for reporting etc.) |
| System |
For accounts not related to assets of sales (e.g. Overheads, System) |
Can I See Which Chart Accounts Have A Site Account Linked?
To see which sites have a site account linked to a specific chart account in the chart of accounts:
- Head to Company Settings> Accounts Setup > Chart Of Accounts, locate the specific chart account and select [EDIT].
- Then, select the Site Accounts tab.
Each site within the company is listed. If there is no button on the row, then there is an existing site account linked to the current chart account for that site. Whereas if a [CREATE SITE ACCOUNT] button is on the row, then there is no site account for that site linked to the current chart account.
You can use this button to create a site account for each site against the chart account if required. For more information on creating site accounts, Click Here.
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