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This article covers features you'll find in the Accounting module of the Setup Panel, (in the "Advanced Setup" section of the Setup Panel) and includes some related information. You should search this help site for other related features (such as those found in the Accounting Panel, in Reports, etc.)
The Accounting module in EventsAir lets you manage your event's financials through a built-in accounting platform. After you've set up the necessary requirements, you'll be able to use features in the dedicated Accounting Panel, or in Attendee Financials, and the Reporting Panel, to:
Prepare Budgets and Forecasts - create and store multiple budgets and revisions, and instantly calculate the impact of different scenarios (e.g. more or fewer attendees or an increase or decrease in registration fees) will impact your budget. You can also monitor and compare the actual financials to the original budget in real time and generate reports.
Manage Supplier Payments - track when payments to suppliers were made and who authorized them, and match them to specific expenses. The tool can handle multiple currencies, record job codes, and generate profit and loss data, which can be exported to your accounting system.
Track and Audit Finances - using the Supplier Audit Trail, Attendee Audit Trails, and financial reports, you can track and audit each event with detailed information to satisfy post-event audit requirements.
Accounting (in Setup Panel)
In the Setup Panel, Accounting is where you configure the EventsAir Accounting and budgeting system to best fit your business requirements.
Accounting module setup - Preferences - Details tab
This is where you can enable/disable various preferences to determine what you'll see in other parts of EventsAir:
These include:
In Budget, Amount - Include Tax or Exclude Tax in the Actual column on the Budget screen.
Optional Tabs:
Enable Miscellaneous Invoicing - enable or disable Miscellaneous Invoicing.
Optional Features:
Supplier Invoice Management - this enables the recording of expenses in the Accounting Panel.
Allow Supplier Invoice Accruals - this enables supplier accrual accounting in the Accounting Panel.
Supplier Invoice Approval - selecting this enables an approval checkbox in the Supplier Invoice Management option in Accounting.
Enable Job Codes - Job codes are used to create sub-categories of expenses, which are useful in many circumstances, for example:
A Venue cost category which could be used for different courses in the CE module. (Larger rooms incur higher costs.)
A Catering cost category which could be sub-divided into different parts of a conference, such as Pre-Conference Workshop, Conference, or Post-Conference Workshop.
Enable Invoice Groups for Miscellaneous Charges [these are fore individual miscellaneous charges]
Enable Invoice Groups for Miscellaneous Invoicing [these are for Miscellaneous Invoices]
Manual Journal - this option enables manual journal entries, a useful tool for correcting expense entries assigned to incorrect categories.
Export Data - this option will prepare spreadsheet exports in formats accepted by many accounting systems. You can further specify:
Export To - the format of the file you want created.
Exclude Supplier Payment Journals - checkbox (if you want to exclude these from data exports)
Miscellaneous Charges Default Taxes - you can define which taxes will be applied by default to Miscellaneous charges.
Accounting module setup - Preferences - Master Accounts tab
Here you will tell EventsAir which account codes/numbers your company uses for:
Debtor Account
Creditor Account
Bank Account (you can set up multiple of these by pressing the plus sign)
Accrued Creditors Account
Default Tax Collected Account (you can set up multiple of these by pressing the plus sign)
Default Tax Paid Account (you can set up multiple of these by pressing the plus sign)
Retained Profit Account
Currency Variation Account
Accounting module setup - Accounts [list]
Here is where you set up your "Chart of Accounts" or "General Ledger" for your event. The account codes you set up here are used in your budgets, forecasts, and all accounting transactions. These codes are usually already being used by your accounting department, and should precisely match the codes used by your company. This is especially important if you are exporting financial data from your event to your company's accounting system.
Creating Accounts
To create a new account, press the Add Account button (bottom right), and enter the following information:
Account Number
Name
Type:
Heading - this is used to designate an account number for use just as a heading.
Income Fixed - these items are typically known income items, such as sponsorships or other fixed income, contracted in advance.
Income Variable - most income items at a conference or meeting will be variable. This includes any income, such as registration fees, exhibitor fees and function fees that will change with the number of registrations you receive.
Expense Fixed - these items are typically known expense items that will not vary, such as venue rental, AV rental, staffing and other items that are fixed no matter how many registrations you receive.
Expense Variable - many expense items at a conference or meeting will be variable. This includes any expenses that will change with the number of registrations you receive, such as food and beverage.
Notes - any information you want to remember about this account.
Reference Number - legacy account number for old data.
External Account Number - useful for linking your data to other accounting systems.
Inactive Account - you can mark an account code as being inactive/old/unwanted by ticking this checkbox. Only unused accounts (with a 0 balance) can be marked as Inactive.
Tip: The totaling of the accounts is controlled by the level of indent. Use the left and right arrows to change the indent (under a heading account). In the example image, the 1000-series accounts will all total to account 1000, and the 2000-series accounts will all total to account 2000. You can nest the indenting by several levels - just insert another Heading account.
Accounting module setup - Job code [list]
Once defined, job codes are used to create sub-categories of expenses, for example:
A venue cost category could be assigned to different classes in the CE module.
A catering cost category could be sub-divided into different parts of a conference, such as Pre-Conference Workshop, Conference, or Post-Conference Workshop.
Just enter the code and description as needed. You can enter any combination of text and numbers for your code.
When recording supplier payments, job codes can be added to the itemized expenses.
In Account Inquiry, in the Accounting Panel, you can search by job code.
As part of your Accounting setup - Supplier library
[in Application Setup (Admins only)]
As part of setting up Accounting in EventsAir, you probably want to create a library of suppliers (in Application Setup - Libraries).
Suppliers are your vendors and companies that provide services for your event; these are the companies that will invoice you, and you will make payments to.
To properly track all of your expenses and payments, you need to create a list of suppliers within EventsAir. This is done in Application Setup, under Hotels and Suppliers.
The following fields are available when setting up Suppliers:
Name - this is a required field.
Internal reference
Organization
Company Number
Company Tax Number
Address Line 1
Address Line 2
Address Line 3
City
State
Country
Postcode
Contact Name
Deactivate Account
Once you start incurring expenses, you can create new expense entries using the suppliers you've created.