Set up Financials

Jump ahead to

• Tracking financials in Passare
• Permissions
• Set up Bank accounts
• Set up Checkbooks
• Set up Batch deposits
• Set up Bank transactions

 

Tracking financials in Passare

This article covers the setup of 3 financial features: 

1. Account tracking (also known as Ledger)
   Tracks a beginning bank balance and fluctuates due to paid checks and deposited funds.
2. Checks
   Allows users to write & print checks for expenses, like cash advances or utilities.
3. Batch deposits
   Allows users to record collected funds that are deposited into their account.

These features can be used independently or together.

 

Permissions

First, customize your team's access to each financial feature.

Go to Admin > Organization > Roles.

 

Create or choose a role from the menu.

 

Those responsible for setting up financial features (i.e. bank account numbers, balances, etc.) will need permissions from the Admin (first) column.

The checkboxes below correspond to each feature: Accounting, Banks, Checks, Deposits, Interest, Tax.

 

Those only using the feature (i.e. writing or printing checks, viewing balances, etc.) will need permissions from the System (second) column. 

Select the appropriate permissions and save!

 

Set up Bank accounts

Account tracking, Checks, and Deposits all require bank account information.

Account info

First, check that your Bank account appears on Admin > Financials > Banks.

 

If your bank account is not listed, select Add new bank.

 

Fill out the bank account information.

If you plan to write checks from this account, include Account name, Routing number, and Bank account number.

 

Click Save. 

Repeat these steps for any bank accounts you plan to track, write checks from, or deposit into.

 

Account tracking

The Account tracking feature allows you to view and manage bank balances.

Select the Account tracking tab, enter the opening balance, and click Add.

 

Repeat for any account you wish to track.

 

Account access

You can choose which users view activity in the Account tracking feature.

To do this, select the Account access tab.

Any user you've given any Financials roles and permissions will appear in the list.

 

Use the checkboxes to indicate which users can View account or View balance.

• If you uncheck View account, they won't see that account in financial features they use.
• If you uncheck View balance only, they'll still be able to add checks, transactions, and deposits, but cannot view the balance.

Repeat for each bank account.

 

Set up Checkbooks

To write checks from Passare, you will need to set up a Checkbook.

Go to Admin > Financials > Checks.

 

Select Add checkbook.

 

Choose the GL account and enter the Checkbook name. Use the radio buttons below to select your check printing preferences. 

If a user should be notified for requested checks, you can indicate that below.

 

Click Save.

Next, add the bank account to Batch Deposits.

 

Set up Batch deposits

To generate Batch deposits, you must tie a bank account to the transaction.

Go to Admin > Financials > Deposit.

 

Select Add transaction.

 

Add in Name, Debit Account (Bank), and Credit Account.

 

Click Save.

 

Set up bank transactions

Account tracking logs check and deposit activity. You can create custom bank transactions to track other financial activity.

Go to Admin > Financials > Banks. 

Click the bank name to expand, and select the Account tracking tab.

Select Add bank transaction.

 

Fill out the Transaction Name, Debit Account and Credit Account.

Your list of bank transactions will now appear under the Add Transaction dropdown.

 

Need more information?

• Getting started with Financials: Accounts 🎬
• Getting Started with Financials: Check Writing 🎬
• Set Up Check Writing Preferences
  
  

Need Help? Email us at support@passare.com or call (800) 692-5111!