Configuration: Account Classes (Version 2+)

Financials: Configuration: Account Classes

1. This tutorial will cover how to configure account classes within the system.
2. Account classes can be used as sub-accounts. They are also a QuickBooks concept/used in QuickBooks (if you are not using QuickBooks, you probably don't need account classes, unless you need to create codes/tracking for sub-chart of accounts).
3. Before configuring your Chart of Accounts, read this tutorial the various fundraising configurations/on how Chart of Accounts differs from Funds, Campaigns, and Programs.
4. To see the list of Account Classes that are already in your system, click Financials on the Main Menu to open the Financial sub-menu and then select Account Classes under Configurations.

   

5. This will open the Account Classes screen where all currently configured classes will be shown.

   

6. If you have the QuickBooks Sync turned on and have synced Chart of Accounts from QuickBooks, an icon will show on the screen indicating which Chart of Accounts have been synced from QuickBooks.

   

7. You can search your Chart of Accounts using the search field in the upper right hand corner.

   

8. To edit or delete an existing account class, click the drop down to the right of the classes entry.

   

   • Please Note: any Account Classes synced to QuickBooks will not be able to be edited or deleted, you can only inactivate them. To edit synced Account Classes, you will need to make the edits in your QuickBooks account and wait for QuickBooks to update the item - please note that updates to Account Classes via QuickBooks sync happen overnight. Please see the last section of this tutorial about syncing Account Classes for more details on how synced updates work.
   • Please also note: you will not be able to delete any Account Classes that hav been tied to any transactions (that is, any transactions that are assigned that Account Class). You will only bee able to inactivate them.
9. If you are editing an Account Class, make the changes and click Save to the right of the item being edited or to close without saving, click Close.

   

10. To Inactivate an Account Class, clicks the green status check mark. It will turn gray, indicating that Account Class is inactive. You can reactivate Account Classes by clicking the gray status checkmark to turn it green, indicating the Account Class is active.

    

11. There are three ways to add Account Classes to CRM: a) manually add them, b) import them from a spreadsheet, and c) sync them/automatically add them from QuickBooks online when setting up the QuickBooks Online sync with CRM.
12. To manually add or create a new account class:
    • Start by clicking Financials on the Main Menu to open the Financial sub-menu and then select Account Classes under Configurations

      

    • in the Class and Description fields respectively, indicate the code and description of the class you wish to create. If you will be using the QuickBooks sync function, it is critical that the Code and Description match what is in QuickBooks exactly in order for transactions assigned that code to sync. If even one letter, space, or character is different, the transaction(s) will not sync. Both Code and Description are required. If you don't use Codes, you can just enter random or chronological numbers.

      

    • When these fields have been entered, click the Add button to the right.

      

13. To Import a Chart of Accounts from a spreadsheet:
    • Create a spreadsheet with one (AND ONLY ONE) column labeled Class Name. You must use this column name exactly. This spreadsheet can be exported from your accounting software or manually typed/created.

      

    • Once you complete set up of your spreadsheet, save the file as a .csv. ONLY .csv files are accepted.

      

    • Navigate to the Account Classes index screen (Main Menu: Financials: Chart of Accounts) and click the blue Import button in the lower right.

      

    • In the pop up box that appears, click on the Upload CSV box to browse your computer and select your file.

      

    • After uploading the file, click the Import button.

      

      

    • The import will happen immediately/in real time. As soon as the import file pop up window closes, the chart of accounts index page will refresh and your imported chart of accounts should appear. If they do not, then something has gone wrong and you will need to try again. Make sure the column name in the spreadsheet are spelled correctly, only says "Class", make sure there are no blank rows in the middle of your list, and make sure you only have one column in the spreadsheet. If you still are having trouble, contact CRM support for assistance. Please send us your Account Classes import file when contacting us for help importing the Account Classes.
    • After the import completes, you can edit or delete any of the chart of accounts and/or add/edit the default revenue source.
14. To sync Account Classes from QuickBooks:
    • When setting up the QuickBooks sync, if you select to sync individual transactions, you will be given an option to sync your Account Classes FROM QuickBooks to CRM.

      

    • If you select this option: a) QuickBooks will immediately sync the Account Classes from QuickBooks to CRM upon completion of the sync set up, and b) will perform an overnight update every night, going forward, to update the Account Classes in CRM based on any changes made in QuickBooks (edits made to existing Account Classes and/or any new Account Classes added to QuickBooks).
    • Please Note: only Account Classes in the Income, Other Income, and Accounts Receivable categories will sync from QuickBooks to CRM. No Account Class in any other category will sync to CRM.
    • Please Also Note: Classes do NOT sync FROM CRM to QuickBooks per se. If you add a new Account Class to CRM it will not sync to QuickBooks. However, when a financial transaction syncs from CRM to QuickBooks, if it is assigned an Account Class that does not match an Account Class inside QuickBooks, then a new Account Class will be created in your QuickBooks online account. In this way, you CAN sync Account Classes from CRM to QuickBooks Online. But be aware that simply adding the Account Class to CRM won't add it to QuickBooks - it must also be added to at least one transaction.
    • Account Classes from QuickBooks will sync to CRM using the following logic:
      • The system will attempt to match each Account Class from QuickBooks to an existing Account Class in CRM based on name. If the system finds an EXACT match (including all spaces and punctuation), then the system will sync to that item.
        • If the existing Account Class has a Code in QuickBooks and that code differs from the one assigned to the item in CRM, then the code in CRM will be updated to match what is in QuickBooks.
        • If the existing Account Class has no code in QuickBooks, then nothing will happen to the code assigned to the item in CRM (as code is required in CRM and cannot be deleted).
      • If the system does not find an existing Account Class item in CRM that matches the QuickBooks Account Class item exactly, then the system will create a new Account Class item in your CRM Account.
        • If the new Account Class item has a code in QuickBooks, then that is the code that will be assigned to the item in CRM.
        • If there is no corresponding code in QuickBooks for that Account Class item, then CRM will look at all existing Account Class and Chart of Account Codes and assign the next number chronologically to the Account Class item in CRM (as code is required in CRM but not in QuickBooks) (that is, if your highest existing account code/class of account code in CRM is 4550, then CRM will assign the new Account Class item coming from QuickBooks without its own code the code "4551").
      • The system will email your CRM system admin every time any change is made to the CRM Account Classes by the QuickBooks sync to notify if you a new Account Class item has been created or if an existing Account Class item has been updated.