In Organization Settings you are able to manage settings for the organization such as period, posting, bank account, report, and general settings.
Period settings determine what the fiscal year for the organization is and what the tax year is for donation purposes. The fiscal and tax years will run 12 months beginning with the month populated here. January is setup for churches and July for schools for the fiscal year by default and January is setup for the tax year by default for all organizations but these settings. There are also some accounting period controls in this section. The business rule for the systems is to allow a maximum of two accounting periods to be open concurrently. In some situations, especially when an organization is getting started they may need additional periods open and that is what the exception period field is for. This should be managed by the conference while assisting each organization to determine when additional periods may need to be opened. When you are making entries you can for example have both January and February open while in February until for example you are able to complete your January Bank Reconciliation and prepare board statements and then you can close January in Period Processing – Period Maintenance and by closing January then March would become available as you will always have a rolling two periods open.
Posting settings allows you to define several default items such as Fund, Department, and the Organization Subaccount and these are used internally by a number of processes in the system. These configurations are populated by default when an organization begins using the system but can be reviewed as needed.
Bank Account settings allows you to populate which bank accounts (if you have more than one) are used for your payments primarily (Checking) and which ones are used for Deposits (Deposit). In some cases organizations may have separate checking accounts specifically for deposits vs other business and activity and this allows for this. The system will utilize this information to help facilitate the entries and make the process easier.
Report Settings allows you to configure what the headers will display in each report. There are two lines of data that will display in the reports and these fields are used to manage that. There is a configuration setup for each organization but you are able to review and update this as needed.
General Settings has two fields that are setup to define the default Country and Currency for the organization. These are setup for each organization by default but you are able to review here as well.