Accounts

Your accountant thinks in accounts: rooms, services, taxes owed, commission, salaries. Accounts is where Veridien files every figure it records under an account of yours, so the statements speak your accountant's language without anyone entering a number twice.

Open Money > Accounts in the sidebar. You need the View Accounts permission to see it and Manage Accounts to change it.

The page has five tabs:

• Overview: the property's financial position and activity, starting with cash and bank, guest balances and guest deposits.
• Monthly closes: prepare the books, review the evidence and close each month.
• Chart of accounts: every account, by group. See The chart of accounts.
• Journal: every financial posting generated by property activity.
• Statements: the income statement, balance sheet and cash flow. See Statements.

The buttons at the top open Bank reconciliation and Accounting settings (currencies, posting periods and automatic accounting). On the Journal tab, New journal entry records a manual entry.

Every account belongs to one group:

• Assets: money we have. The cashboxes, and stock at recorded cost.
• Receivables: money owed to us. Guest balances, stays a channel collected for, agency balances.
• Liabilities: money we hold for others. Guest deposits, tax and service charge collected, money for outside providers, tips, loyalty points.
• Payables: money we owe. Agency commission on statements not yet paid.
• Revenue: income. Rooms, services, fees, outlets and more.
• Expenses: costs. Channel and agency commission, payment fees, and every expense category.
• Equity: the owners' interest in the property.

Every property starts with a default chart of accounts. On the Chart of accounts tab, accounts are listed under Assets (with receivables), Liabilities (with payables), Equity, Revenue and Expenses. Each row shows the account, how many Linked sources post to it, and its amount: the balance today for assets, liabilities and equity, and this month so far for revenue and expenses.

• Search accounts by name, code or description.
• Under Filters, choose a Group, or turn on Archived accounts to include archived ones.
• Under View, turn on Account codes to show each account's code.

Select an account to open its page, with its Activity, Details and Mappings. On Details you can rename the account, describe What goes here, set an Export code, and put it under another account with Part of. Archive account hides an account you no longer use. A system account keeps its group and cannot be archived.

To add an account, select New account and set the Account name, Account code (leave it blank for the next free code), Account type, Parent account and Description, then select Create account.

Posting rules lists every money source with the account it posts to, grouped as Reservations and folios, Payments, Restaurant and POS, Expenses, and Agents and sources. Sources include payment methods, charges, taxes, outlets and their charges, services, expense categories, sources, agencies and cashboxes. Open it with Posting rules on the Chart of accounts tab.

A source you have not linked posts to the default account for its kind. Choose another under Post to. Turn on Needs review to see only the sources that land in a catch-all account, or that are linked to an account that no longer fits them, so nothing falls out of sight.

Tax you pay to the government, commission you pay an agency, and supplier bills are recorded as expenses. Give them an expense category of their own, and under Posting rules link that category to the liability or payable it settles (for example the taxes collected account). Those expenses then pay the balance down instead of counting as a cost, so profit is not reduced twice.

The Statements tab builds three statements from the journal, month by month in your base currency, between the From and Through dates you choose:

• Income statement: income earned and expenses posted within each month.
• Balance sheet: recorded balances at each column's closing date.
• Cash flow: posted cash and bank movements. Internal transfers and card processor clearing are left out.

Select an amount to see the entries it is made of. The statements need View Financial Reports, plus View Expenses & Profit for the income statement and cash flow, and View Folios & Charges for the cash flow.

• Reports: revenue, occupancy and expense reports.
• Expenses: the categories your costs are filed under.
• Taxes and charges: the charges whose tax is held for the government.