RB User Guide > Entities > Business Units

Selecting BU financial accounts

Designate which accounts RB should use for different types of financial transactions involving the business unit. Before designating financial accounts for business units, set up your company’s financial accounts in Chart of Accounts.

Continued from Setting up business units or Updating business units.

1. Scroll or jump to the Accounts pane of the New BU/Edit BU window.
2. Select the appropriate account number in each account’s drop-down to match your general ledger or accounting software. (RB comes with a set of default accounts, which you can customize. If you need to edit or set up an account, see Customizing accounts.)

   TIP: Set up BUs to match your QuickBooks

   If you use QuickBooks for accounting, you can import your RB data directly into your QuickBooks using QuickBooks Integrator (RB9 only), eliminating the need to re-key financial data. Before importing RB invoices and payments into QuickBooks, set up your RB business units’ accounts to match your QuickBooks setup.

   IMPORTANT: Set up accounts required for processing credit card fees in RB

   Before you can separate out credit card processing fees in RB, you must set up 2 accounts in Chart of Accounts:

   • Expense-type accounts for Payment Processing Expenses and Surcharge Income. Suggested account names: Payment Processing Fees and Surcharge Income.
   • Other Current Assets-type account for Undeposited Funds (for Processing Fee). Because QuickBooks already has an Undeposited Funds account, you should name the account that is for processing fees’ undeposited funds something different. Suggested account name: Undeposited Processing Fee Funds.

   Account types (Income, Expense, Accounts Receivable, Other Assets, etc.) are set up in Lists > Accounting > Account Type.

Reference

• Chart of Accounts
• QuickBooks Integrator
• Lists > Accounting

Step-by-step instructions

• Customizing accounts