Accounts

The Accounts section sets the stage for the rest of the Accounting features, and you must set up relevant Accounts to create Invoices and track Payments.

You can keep track of the balance of each Account under the “Transaction Balance” column. Having all Accounts listed in the same tab makes it easy to access and edit Account information.

There are 4 different categories of Accounts, further customizable in Accounting Properties:

• Client Account
  • Assigned to a Client, necessary to create Invoices and bill Clients
• Operating Account
  • Your company’s Account, used for sending and receiving Payments
• Trust Account
  • Typically used to hold funds for future work to be performed for a client. This can also be used as an Escrow Account.
• Vendor Account
  • An Account linked to an external Vendor, such as a company you pay or are paid by

Add a New Account (ex: Client Account)

1. Add the Client as a Contact
   • Click the “+” on the top right of the screen
   • Press “+ New Contact”
   • Fill in the relevant contact information
2. Create an Account with the Client as the Account Holder
   • Select the “Accounting” section on the left side of the screen
   • Click the “Accounts” tab
   • Press “+ New Account” on the right side of the screen
   • Write the Name of the Account
   • Select the Account Type (Client Account)
     1. Customizable in Accounting Properties
   • Enter the Account Number
   • Write the name of the Account Holder
   • Enter the Transaction Balance (optional)

Billing Account Contact

• Write the name of the Billing Contact for the Account
  1. Fill in relevant Contact information in the pop-up
• Enter the Billing Contact’s Title and Company
• Choose the Billing Contact’s Phone Number
• Choose the Billing Contact’s Email Address
• Choose the Billing Contact’s Address

Primary Account Contact

• Write the name of the Primary Contact for the Account
  1. Fill in relevant Contact information in the pop-up
• Enter the Primary Contact’s Title and Company
• Choose the Primary Contact’s Phone Number
• Choose the Primary Contact’s Email Address
• Choose the Primary Contact’s Address
• Write any relevant Notes for the Account
• Press “Save” to create the Account

3. Link the Account to relevant Invoices and Expenses
   • Select the Account when creating a new Invoice or Expense

The process for creating and using Accounts is the same for Vendors as Clients, so follow the steps above for Vendor Accounts.