Accounting Settings

Accounting Settings

1. Click Settings on the Main Menu.



2. Click Accounting Settings



3. The accounting settings screen consists of four sections:
  1. Income Account Settings
  2. Deposit Management
  3. Cashbook Management (see How to load Cashbooks and manage)
  4. Lock Periods (see Lock Periods)
4. Click Edit button to load and maintain company settings




Income Account Settings
  1. Default income account (aka fee report) where the agency portion of the fee/commission will be allocated.
  2. Set the date that the fee must appear on the statement and/or ledger. Choose between: Change date to current date, Keep Original Date or Prompt for action.


Deposit Management

Enable if deposits are held in a separate bank account from the main bank account (i.e., when a deposit is received in the rental bank account, the deposit is transferred to a different bank account managed by the company). By enabling this setting, the user will require to import the deposit bank account statement to update the deposit held.



Cashbook Management

PropWorx is a comprehensive property management software that allows you to manage various cashbooks, including trust accounts, deposit trust accounts, and business accounts. Cashbooks can be updated through the import of bank statements or manual transaction entries.




Lock Periods

Lock Periods prevent users from posting transactions that affect the general ledger before the set lock period date. Locking is part of the period close process. See Lock Periods


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