Use the following procedure to edit an Account in the Financial Transactions section of the Setup module:
1. From the Financial Transactions section of the Setup menu, select Accounting > Accounts.
2. In the List of Accounts grid, click Select next to an account.
General information about the account is displayed in the General tab below the List of Accounts grid.
3. In the Accounts Totals grid, Debit, Credit, and Balance totals are listed for Unposted, Posted, Applied transaction types.
The Account Total (Posted/Unposted) row displays the total account amount including posted and unposted transactions.
4. To edit the account’s general information, click Edit. Edit information for the following fields:
Note: The account ID and Type can only be edited if the account is not currently in use.
•ID: Enter a unique ID number for the account.
•Name: Enter a unique name for the account.
•Type: Select the account type:
o Deposit – A Deposit account type is used to track deposits such as those for housing and rental equipment. Institutions may have more than one Deposit account type.
o Regular – A Regular account type is used for charges and credits, such as for housing charges and credits. Institutions may have more than one Regular account type.
Note: The Payment account type is the cash account used to track payments. An institution can only have one Payment account. The Payment account is predefined cannot be removed. However, the Payment account’s Name and ID can be edited.
•Apply Priority: Enter a value to determine in which order the account has charges or credits applied to it when Auto Apply is used. The lowest number indicates the highest priority when applying money using the Auto Apply function.
5. Click Save. The Account successfully updated message is displayed.