Setup GL Account Mapping
The GL Account Mapping section tells Tres which GL accounts to use for automated journal entries created by the system for various payments and reservations.
Note: Only a user with Admin permissions can edit General Ledger Account Mapping.
Go to Settings > General Leger Setup > General Ledger Account Mapping.
The following default accounts are included with Tres and recommended for the automated entries.
Undeposited Funds: Checks or cash received will be posted to this Undeposited Funds account. When deposited, journal entries are created to move monies from Undeposited Funds to the bank account where the money is deposited.
Credit Card -Merchant of Record: Payment received by the agency with a payment type of credit card shows that payment as owed to suppliers with an offset of money owed to the agency from their credit card company for merchant of record charges.
Unsettled Reservation Payments: All payments from or to Client and from or to Suppliers are posted to this Supplier Balance account. When reservation is closed, both the supplier and client balances go to zero, the sale and cost of sale offset and are posted with the offset to the Supplier Balance account thus closing out Supplier Balance.
Credit Card – Agency Corp Card: Payments made by the agency to the supplier with a Payment Type of Credit Card are defined as the agency is using their corporate credit card to make this payment. As such, the system posts to the GL that the supplier is no longer owed (Supplier Balance) and now the money is owed to the agency’s corporate credit card. (When paying the corporate credit card reduce the balance owed with the offset to bank account payment is made from.)
Sales and Cost of Sales for each Travel Category: The sales and cost of sales you enter tell Tres where to post closed reservation sales and cost of sales amounts. We recommend you name your GL account the Travel Category name with the word “Sales” or “Cost of Sales” in front. For example, “Sales – Air”, “Sales – Insurance”, “Cost of Sales – Air”, or “Cost of Sales – Insurance.”
Tip: Even if you do not intend to use a particular Travel Category or Payment Type, still create a GL account and enter the GL reference. If you do not use it will not show on reports. But if you try to use a payment type or Travel Category that does not have a GL reference (and have Bank Management and GL enabled) you will get an error as the system will not know where to post that payment or reservation.