Offset Accounts
Offset accounts are used to balance financial transactions by automatically recording the opposite side of an entry. For example, when you enter an expense, the system uses the offset account to record the corresponding credit entry, ensuring your books stay balanced. Offset assignments link specific transaction types to designated offset accounts. This setup ensures consistent, accurate posting of entries without needing to manually choose offset accounts each time.
From this page, you can:
Offset Accounts Grid
The Offset Accounts grid includes the following columns:
Transaction: The transaction type associated with the offset account record
Entry Fund: The fund code for the entry in the offset account
Entry GL: The general ledger code for the entry in the offset account
Offset Fund: The fund code for the offsetting entry
Offset GL: The general ledger code for the offsetting entry
Entry Due To/From: The "Due To/From" amount for the entry in the offset account
Offset Due To/From: The "Due To/From" amount for the offsetting entry
Copy Offset Assignments
You can quickly copy offset assignments from one fund to as many other funds as desired. Simply select the fund to copy from and the funds to copy to. Once you select Copy, the assignments will be generated automatically.
Delete Offset Assignments
Before deleting a record, ensure you’ve selected the correct record you want to remove from the system. Deletion is permanent and cannot be undone.
