The Accounting section contains the custom financial account setup and miscellaneous charge setup.
The Financial Account section lists all active and inactive financial accounts. A financial account has three identifiers, an account ID, account name, and account type. There are several default financial accounts that can be used or edited and repurposed as other accounts. Additional financial accounts can be added as needed.
Campspot has four basic types of financial accounts. Once a financial account is created the account type cannot be changed.
- Asset: For our purposes, Assets and Asset Accounts as defined as the account of record for Cash, Check, Credit Cards, etc – anything of value provided by the guest to the park in exchange for goods and services. This account type would also be used for Transfer Internal, Transfer External and POS inventory accounts.
- Revenue: For our purposes, Revenue and Revenue Accounts are defined as the account of record for charges or fees earned by the park for providing goods and services to guests.
- Liability: For our purposes, Liabilities and Liability Accounts are defined as the account of record for potential obligations by the park to another entity, such as a guest or a tax authority.
- Cost of Goods Sold: When the sale of a POS item occurs, Campspot will debit the cost associated with the item from the designated COGS Financial Account.
Editing Financial Accounts
Selecting an existing financial account by clicking on the box next to the account makes the Deactivate and Edit buttons available. Multiple financial accounts can be deactivated at once but only one financial account at a time can be edited.
Inactive Financial Accounts
Financial accounts cannot be deleted but they can be made inactive. In order to make a financial account inactive it cannot be in use. All charges, payment methods, system accounts and POS categories must be unmapped from the financial account before deactivating. An inactive account can be made active or editing when selected from the inactive list.
Inactive account IDs cannot be reused for active accounts.