Key Steps
1. Overview of Custom Sections 0:03
Review the custom sections below the net revenue section in the owner statement template.
Understand that these sections display each line from the general ledger detail report for every mapped account.
2. Removing Accounts from Sections 0:27
To remove an account from a section, click the X icon next to the account.
This action will move the account to the unallocated accounts section.
3. Mapping Accounts for Owner Expenses 0:34
Ensure all general ledger accounts for owner expenses are mapped to a section in the statement template.
If a new account is added to the chart of accounts, update the template by mapping it from the unallocated accounts section.
4. Importance of Mapping Accounts 0:50
Note that failing to move all accounts out of the unallocated accounts section can lead to discrepancies between reported net earnings and general ledger data.
5. Moving Accounts to Custom Sections 1:03
Move accounts to preferred custom sections as needed.
The adjustment section includes accounts for payout adjustments and related transactions.
6. Understanding the Transfer Section 1:14
The transfer section displays all owner distributions or payouts made during the statement period.
This section is system-generated and cannot be edited or removed.
7. Adding New Sections to the Template 1:33
To add a new section, click the 'add section' button and provide a name for the section.
For example, create a section for cleaning expenses.
8. Moving Related Accounts to New Sections 1:39
Move the related housekeeping expense account to the newly created section.
Ensure it appears in unallocated accounts before moving it.
9. Saving Changes 1:55
After making all necessary changes, be sure to save the updated template.
Cautionary Notes
Always double-check that all accounts are properly mapped to avoid discrepancies in reporting.
Ensure that any new accounts are added to the correct sections promptly to maintain accurate financial records.
Tips for Efficiency
Regularly review the unallocated accounts section to ensure no accounts are left unmapped.