Step 4: Setting up Assets, Liabilities, Vendors, and Payees

After completing Step 3: Set up your Funds and Income/Expense Accounts, the next screens in the Wizard will guide you through first, building your list of Assets, then Accounts Payable Vendor / Payee names, and lastly the Liabilities. If you have activated the Licensing key to use the Accounts Receivable portion of the software, you will be brought to a screen to set up the list of Clients beforehand.


Assets and Liabilities

  • The Accounts Payable Vendor / Payee list resides as a ledger in the list of Liability accounts. If you have activated the license to use Accounts Receivable, it will reside as a ledger among the Asset accounts.
  • Enter the Account Name and Account Number (if applicable) for each account you wish to add to the list.
  • If applicable, establish that "This account will have Sub-Accounts" by placing a check in the box.
  • Click the Add Account button to proceed. Keep adding your accounts until you have finished.
  • Then click Finished with [the type of account or Sub-Account you have added]. Continue to After Using The Setup Wizard for the next steps.

 

Vendors, Payees, and Clients

  • If you have chosen to use Account Numbers in your Chart of Accounts, the Accounts Payable list of Vendors and Payees requires you to enter one Account Number to represent the entire list.
  • The same is true for the Accounts Receivable list, provided you have activated the Licensing key to use this Module.
  • Choose an account number for each portion and click the Set Account Number button to proceed. (You can always Change Account Number Structure later if you need to.)
  • Set up your list of Payees (and Clients, if applicable) by entering the Account Name or selecting Choose from Membership to add someone from The People File and clicking the Add Account.
  • If you need to enter the address and other information for the Vendor (or Client, if applicable), click the name you added to the list.
  • Then, click the Vendors (or Client) tab to reveal the screen where you can add any additional information.
  • When you are finished setting up your list, click the Finished with [the type of accounts] button at the bottom of the screen and proceed to the final screen in the Wizard.

 

After Using The Setup Wizard, use Manage Accounts to review your new Chart of Accounts and explore Church Windows Accounting.