This article provides information about the Accounts tab on the System Preferences screen. Click here for more information on System Preferences. On the Accounts tab, users can configure accounts to automatically populate account-related fields throughout R365. The values provided in these settings will be used as the default accounts throughout the system.
|Accounts Payable GL Account to offset all AP transactions. This account should only be used for AP transactions so that expenses are correctly recorded. Reference the balance sheet to view the AP balance by location.
|Accounts Receivable GL Account to offset all AR transactions. This account should only be used for AR transactions so that expenses are correctly recorded. Reference the balance sheet to view the AR balance by location.
|Credit Expected GL Account used on the Vendor Credit Expected field on AP Invoice transactions. The Credit Expected GL Account is used when a credit is due to your restaurant, such as when there is a supply shortage or a damaged shipment.
|Retained Earnings GL Account used to close out the fiscal year. This is often calculated as Beginning Retained Earnings + Profits/Losses - Dividends.
|Undeposited Funds GL Account that populates the Undeposited Funds field on the Bank Deposit screen and matches the Undeposited Funds on the Bank Activity screen. This account is used to hold funds that have not been deposited yet.
|Checking account that populates all Checking Account fields system-wide. This field is optional but is recommended for faster payment processing.
|GL Account used to assign costs to a purchased item on AP Invoices, Inventory Counts, Inventory Adjustments, and so on.
|GL Account used to assign inventory values on AP Invoices, Inventory Counts, Inventory Adjustments, and so on.
|Food Sales Account that populates Food Sales Account fields system-wide. This field is optional but is recommended to better analyze food operation effectiveness.
|Sales Tax Payable GL Account used on taxable AP transactions. This account tracks sales taxes collected on taxed products and services.