One of the most important set up of the platform is finances. Although when you sign up, InterFuerza comes already configured with an account sample chart, and the Account Master is already configure, it is important that if you want to adapt the platform so you can use your own accounting method, that it be configured according to your need.
The Account Master is the configuration that tells the InterFuerza’s Financial Modules to which accounting account should each operation should be registered to. It is important that an accounting professional will assist in this configuration.
The module is found under Configuration:
It is divided by the auxiliary areas (operational), and allows you to configure in detail each of the accounts used.
Sells or revenue
This section controls all the modules of Account Receivables and Billing found under the module “My Company”.
Within the considerations in this section we have:
Accounts Receivable: Represents the account receivable assigned to clients.
Account charged by Cards: Does not apply for InterFuerza.
Certificate Account: Does not apply for InterFuerza
Discount Account: Is the account to be use for discount movements of the invoices.
Tax Accounts: Is the accounts to which the tax movement are charged in the invoice.
Other Accounts: Accounts used for other charges in the invoice.
Certificate Collection Account: Is the account to use when the collection method is by certificates.
Check Collection Account: It is the account to use when the collection method will be check.
Cash Collection Account: It is the account to use when the collection method will be in cash.
Other Collection Account: It is the account to use when the collection method is others.
Credit Card Collection Account: Is the account to use when the collection method to use is credit card.
This section includes all the Accounts Payable modules such as purchases, suppliers and payments, under the “My Company” module.
Accounts Payable: It is the payable account assigned to the vendors.
Missing’s Account or RMA: DOES NOT APPLY to InterFuerza.
Tax Account: It is the account to use when purchases carry taxes.
Other Accounts: DOES NOT APPLY for InterFuerza.
Other Costs Account N/C: This is the account to use when an inventory output is applied.
In Transit Account: It is the transitory account to be use when the purchase is registered.
Bank Account: Corresponds to the bank account that will be used to generate payments.
This master section allows you to configure what is necessary in order to manage the inventory accounts and their process.
Cost Account: Represents the item cost account.
Inventory Account: Is the inventory account assigned to the products.
Sales Account: Is the account to use when the articles sale is made.
Cost of Service Account: Represents the item cost account.
Service SETUP Account: DOES NOT apply for InterFuerza
Service Sales Account: This is the service income account.
There are special options in the master, so it is important to give details:
The retained earnings account is the account used by the Balance Sheet Report to calculate the line of retained earnings.
InterFuerza is one of the few platforms that offers a calculation tool for Fixed Assets depreciation, so it is important to configure these accounts so that the system understands how to account for depreciation.
It is important to consult this article periodically, due to the new modules updates that are constantly applied, since their accounting configurations will always be in this section with some exceptions.