Setup a Complementary Accounting Code (Cloud)

Setup a Complementary Accounting Code (Cloud)

The Comp Accounting Code will be assigned to the Comp discount code to separate any complementary discount amounts from every other rate discounts.
Path: Management > Accounting Settings > Setup Code

1. Click Add New.



2. Enter "COMP" as the Accounting Code.



3. Choose Guest as the Ledger type.



4. Select CR as the code is a Credit applied to the room rate.



5. Enter a description for the code.



6. Select "No" for "Override Description".



7. Select "Revenue" as the posting category from the dropdown.



8. Select the sub-category "Room" as the Posting Sub-Category.



9. Leave the "Fixed Amount" field empty.



10. Select "Revenue" as the type of taxation.



11. If applicable and used, enter a budget percentage. This percentage will be compared to budgetary numbers. It will also allow you to take last year's figures and offset them by this budgetary percentage to reflect on a report as a comparative number.



12. Select if and who can void the code once posted.



13. If this code is to be used only by someone with Supervisor credentials or anyone:
- Select Supervisor to make the accounting code available only to users that have supervisor privileges.
- Select All to make it available to all users.



14. Check the box to Activate the code.



15. Do not check the "Prompt to Quantity" box.



16. If you are using General Ledger Accounts, you will choose which GL account this item will report to.



17. Although this code is a Credit, the "Operator Cash Out Report" field has to stay blank.



18. Select "GL Room Rev" as the Daily Detail Report.



19. Click the green floppy disk at the top right to Save the new code.



Require assistance with that article?

What would this code need to do when you post it? 
Is this code going to be used in guest folios? 
What would you like to name the code and description? 
When would you use this code for the property? 
Providing responses to the following questions in your ticket could expedite your resolution.

    • Related Articles

    • Setup the Comp (Complementary) Discount Code (Cloud)

      The only way to apply a complementary rate ($0.00) is to setup a "Comp" discount. Path: Management > Rates > Discounts > Setup 1. Click Add New Discount Code. That will create a new empty line in the first row. 2. Choose a Code and a Description. The ...

    • Setup a New Accounting Code (Cloud) 🎥

      ? Watch Video #1 | Watch Video #2 An accounting code is a unique identifier assigned to financial transactions or categories within the system. It helps organize and track financial information related to property management, tailored to the ...

    • Make an Accounting Code Voidable (Cloud)

      There are various choices for configuring void authorization on a code. You can decide whether to permit the code to be voided after posting, allow anyone to void it, or restrict voiding to users with supervisor credentials. Path: Management > ...

    • Setup the Number of Accounting Periods (Cloud)

      This setting cannot be updated by the property. If your property has a different financial reporting cycle, please contact our Client Experience team. An accounting period is any time frame used for financial reporting. Transactions that fall within ...

    • Deactivate an Accounting Code (Cloud)

      Path: Management > Accounting Settings > Accounting Codes. 1. Search for the code and click on it. 2. Change the field Active Code from Yes to No and Save.