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Setting Up the Chart of Accounts

Purpose

Use this procedure to set up your Chart of Accounts. The Chart of Account is basically a check or ACH with M&O, I&S, PI, Attorney fee, overages, fees.

Prerequisites

We recommend you list or understand the ACH deposits or checks you issue on regular basis. You list should include the following:

You can use this listing when you set up your chart of accounts that you will map to entities. Here is an example list:

 

Distribution

Check written to

ACH Deposit

Frequency of deposits

Entities included

M&O

I&S

P&I

Attorney fee

Overage

Fees

County

 

Daily

GGG County

X

X

X

 

X

 

County BPP

 

Daily

GGG BPP

X

X

X

 

X

 

School

 

Daily

SGG

X

X

X

 

X

 

School BPP

 

Daily

SGG BPP

X

X

X

 

X

 

City

 

Monthly

CGG

X

X

X

 

X

 

City BPP

 

Monthly

CGG BPP

X

X

X

 

X

 

County Treasurer

 

Monthly

 

 

 

 

 

 

Tax certificates

Slush fund

 

Weekly

 

 

 

 

 

 

BL - Beer and liquor

Attorney

 

Monthly

 

 

 

 

For all entities

 

 

CAD BPP

 

Yearly

CAD BPP

X

 

 

 

 

 

Note Although your entity may not have an I&S rate, you may create and collect Late Ag Penalty and map this in your chart of accounts.

Procedure

  1. In PACS Collections, choose Tools > Code File Maintenance > Chart of Accounts.
  2. Complete the following fields in the Chart of Account dialog box:
  3. In Check Line1 through Check Line4 fields, enter the addressing information printed on the check that should display in the envelope window.
  4. Select ACH Deposit if this Chart of Account describes an ACH Deposit. If this chart of account is used for generating a check, leave the option unselected.
  5. Click OK.
  6. Repeat this procedure to set up other accounts as needed.

Next Steps

Map the chart of accounts with entities.