Accounting Preferences

 

For your accounting department, Optimum Control allows you to set some default accounting settings.  You should consult with your Accountant prior to making changes to these settings.

 To Edit the Accounting Settings:

1.     Go to Settings  (upper left corner).

2.     Choose Preferences .

3.     Select Accounting.

4.  Enter the details as below.

5.     Click Save .

Field

Details

Accounting System

Choose your Accounting System from the list. This feature enables you to export your purchases into your Accounting System.
NOTE: If your Accounting System does not appear on the list, check with TracRite Software Inc. to see if any new accounting packages are available or how to create a custom configuration.

Default Export Folder

Select the Default Export Folder, where the file is saved to.

NOTE: This does not have to be the accounting system folder.

Accounts Payable Account

Setup the Accounts Payable Account (if applicable). Please configure with your accountant if you are unsure. For some Accounting Systems, you will need to add an Accounts Payable Account in the Optimum Control’s Chart of Accounts (COA) to link to.

Average Hourly Wage

This is used in the sales window to calculate labor cost from a management perspective.  Enter an amount that reflects an average hourly wage plus any labor burden (tax, benefits etc)

Period Length

Indicate the Number of days, weeks or months for the period.

Select Days, Weeks or Months for the Period Length.

Month End Treatment

There are three options for Month End Treatment:

     Break – will split up an existing period to match month end.

     Extend – will prolong the period beyond the original end date set to reach month end.

     Ignore – will leave the period as it has been set.

Fiscal Year Begins

Day of Month

Month

Period Locked Out Automatically

This box should be CHECKED if you wish the Period to Automatically Lock Out.

Period Locked Out on

Indicate the Day of the Week in which periods are to be locked out on (e.g. Tuesday).

Period Locked Out after Days

Indicate the Number of days AFTER the end of a period that you wish to lock the data from changes.

Daily Sale Accounts

Chart of Account Reference

Discounts Employee

Enter the chart of account for discounts

Credit Card Deposits

Enter the chart of account for credit card deposits

Comps

Enter the chart of account for complimentary discounts

Promo

Enter the chart of account for promotional discounts

Cash Deposit

Enter the chart of account for Cash

Money Short

Enter the chart of account for over short

Labour

Enter the chart of account for labour