Setting Up the Charge Code Drop-Down List

Charge codes are used to track accounting transactions so that debits and credits are entered correctly into your General Ledger when you begin to sell products. Charge codes are used in reports such as when you when you run a Revenue by Charge Code Summary to determine which products are producing the most revenue for your organization.

For example, when a customer purchases a product, the charge code for that product is linked to the invoice, order, and payment. When you fulfill the merchandise, event registration, membership, or subscription, the charge codes are used to generate journal entries that can be uploaded to a financial package as well. Your organization's charge codes must be determined before you can begin to set-up the products you will sell. They should be set-up based upon the business rules decided by your organization's Accountant or Bookkeeper and how he or she feels the General Ledger should be set-up and maintained.

The Charge Code Drop-down List

Set up the Charge Code Drop-Down Lists

1. Click the Accounting hyperlink on the Module Menu to launch the Accounting module.
2. Click the Setup link located on the Accounting Overview page.

3. On the Charge Codes child form, click the Add icon.

The Charge Code Information window displays.

4. Enter the name for the charge code in the Charge Code field.
5. Expand the Charge Category drop-down menu and select a Charge Category or (Product Category).
6. Enter the charge code Description.
7. Enter a Revenue Account in the Revenue Account field.
8. Enter an A/R Account in the A/R Account field.

9. Click the Save button.