Manage general accounting settings

Summary

Learn how general accounting settings control ledger creation, invoice generation, pending transactions, and bank statement imports in Box+Dice.

This article covers:

• About general accounting settings
• Automatic ledger creation
• Automatic invoice creation
• Advertising and general expense pending transactions
• Commission invoice pending transactions
• Transactions import setup

About general accounting settings

General Accounting Settings is where you configure automation for ledger creation, invoice generation, pending transactions, and bank statement imports.

These settings are designed to save time and reduce manual processing by automatically performing common accounting tasks when certain events occur.

To manage general accounting settings:

• Go to: Accounting > General
• Select the correct office under Office Name

• Configure the general accounting settings available

Automatic ledger creation

Automatic Ledger Creation removes the need to manually create a ledger for each listing. When enabled, a ledger is automatically created as soon as a listing is added.

Ledger names follow a standard naming convention:

• First four letters of the street name
• Unit number (if applicable)
• Street number
• A sequential number to ensure uniqueness

For example, a listing at 2/34 Smith Street would generate the ledger name:

• SMIT/2/34/1

If the property is listed again in the future, the next ledger would be:

• SMIT/2/34/2

You can also configure separate ledgers and trust accounts for advertising and sales deposits, although this setup is less commonly used.

Automatic invoice creation

Automatic Invoice Creation allows Box+Dice to generate or update invoices when specific events occur.

Available automation options include:

• Automatically create/update an invoice on receiving data from your media vendor
  • Available when Media Vendor Integration is enabled, such as CampaignTrack or Realhub
  • Advertising invoices can be automatically generated when campaign data is received
• Automatically create/update an invoice on entering a bill
  • Creates or updates advertising invoices when supplier bills are entered
• Automatically create/update an invoice on reaching project payment stage actual date
  • For project listings, a payment stage commission invoice is automatically created when the stage is reached
• Automatically create an invoice on entering a commission (non-project listings)
  • Commission invoices are automatically created when sales voucher commission information is saved

Advertising and general expense pending transactions

Pending Transactions automatically suggest payments for confirmation when advertising and general expense funds are ready to be drawn from trust accounts.

The most common configuration is:

• On release of trust money
• Payment to your General Account

Alternative payment methods are available, including:

• Releasing funds as supplier bills are received
• Transferring funds to a company ledger

It is recommended that you disable Allow users to override system defaults on invoice basis so that the default processing method is applied consistently.

Commission invoice pending transactions

Commission Invoice Pending Transaction Settings determine how commission-related pending transactions are handled.

In most cases, the recommended option is:

• Inherit settings from invoice

This allows commission transactions to follow the settings already configured on the invoice.

Transactions import setup

Transactions Import Setup is used when importing bank statements for reconciliation purposes.

Different banks use different date formats in exported statements. To ensure successful imports, the date format configured in Box+Dice must match the format used by your bank.

Common formats include:

• dd/mm/yy
• mm/dd/yy

If the selected date format does not match the file provided by your bank, the import may not process correctly.