Account groups

This topic describes how to configure AR account groups.

You have the option of assigning AR accounts to account groups. This can save time setting up AR accounts, because critical choices such as payment terms, finance charges, and credit limits are set for the group and do not have to be set for each individual AR account. Using account groups also ensures consistency in how the AR accounts are set up.

1. Click Setup.

2. Expand Customer.

3. Expand Account Receivables.

4. Do one of the following:

• To add a new account group, click New.

• To edit an existing account group, select it and click Edit.

• To copy an existing account group, select it and click Copy.

1. Configure the account group defaults.

Field	Description
Code	A code that identifies the account group.
Name	The name of the account group.
Inactive	Select this option to deactivate the account group.
Finance Charge	If you are opting to apply finance charges to accounts in this account group, select the type of finance charges to apply.
Payment Terms	Select the payment terms to apply to accounts in this account group.
Account Manager	If you are opting to assign account managers to account groups, select the account manager for accounts in this account group.
Number Series	If you are opting to automatically generate account numbers based on a number series, select the number series to apply to accounts in this account group.
Credit Limit	The maximum amount of credit you are willing to extend to accounts in this account group.
Statement Type	The statement type to use for invoices sent to accounts in this account group.
Credit Limit Check	Select one of the following: Account: Check if the company account is over its credit limit. Customer: Check if the person account is over their credit limit. Both: Check if either the company account or the person account are over their credit limit. If an account is over its credit limit, Store Manager will not allow any further transactions to be charged to the account.
Application Method	Select one of the following: Manual: Manually select the ledger entry to apply the adjustment to. Apply to oldest: Automatically apply the adjustment to the oldest ledger entry. Whatever you choose is selected by default for adjustments, but you can override the default if desired.

1. Click Save And Close.