The Accounting module in EventsAir lets you manage your event's financials through a built-in accounting platform. Within the EventsAir Accounting panel, you can:

• Prepare Budgets and Forecasts - create and store multiple budgets and revisions, and instantly calculate the impact of different scenarios (e.g. more or fewer attendees or an increase or decrease in registration fees) will impact your budget. You can also monitor and compare the actual financials to the original budget in real time and generate reports. 
• Manage Payments - track how payments were made (cash, credit card, check or wire transfer), see if they were applied properly (e.g., whether a check was intended to pay for the hotel, or an optional dinner) and handle payments for extended stays and partner buy-ins on incentive trips. The tool handles multiple currencies, tracks supplier expenses, and generates profit and loss data, which can be exported to your accounting system.
• Track and Audit Finances - with Audit Trail, you can track and audit each event with detailed reports and Audit Trails that will satisfy any post-event audit requirements. 

Accounting Preferences

Accounting Preferences is where you configure the EventsAir accounting and budgeting system to best fit your business requirements.

Details Tab

The Details Tab gives you many options, including:

• In Budget Amount - Include Tax or Exclude Tax in the Actual column on the Budget screen.
• Optional Tabs:
  • Miscellaneous Invoicing - enable or disable Miscellaneous Invoicing.
• Optional Features:
  • Supplier Invoice Management - this enables the recording of expenses in the Accounting Panel.
  • Allow Expense Accruals - this enables accrual accounting in the Accounting Panel.
  • Expense Approval - selecting this enables an approval checkbox in the Expense Management option in Accounting.
  • Job Codes - enable use of Job Codes. Job codes are used to create sub-categories of expenses, which are useful in many circumstances:
    • A Venue cost category which can be assigned to different classes in the CE module. (Larger rooms incur higher costs.)
    • A Catering cost category which can be sub-divided into different parts of a conference, such as Pre-Conference Workshop, Conference, or Post-Conference Workshop.
  • Manual Journal - this option enables manual journal entries, a useful tool for correcting expense entries assigned to incorrect categories.
  • Export Data - this option will prepare spreadsheet exports in formats accepted by many accounting systems. You can further specify:
    • Export To - the format of the file you want created.
    • Exclude Supplier Payment Journals
• Miscellaneous Charges Default Taxes - this is where you can define which taxes will be applied by default to Miscellaneous items.

Master Accounts

Here you will tell EventsAir which account codes/numbers your company uses for:

• Debtor Account
• Creditor Account
• Bank Account (you can set up multiple of these by pressing the plus sign)
• Accrued Creditors Account
• Default Tax Collected Account (you can set up multiple of these by pressing the plus sign)
• Default Tax Paid Account (you can set up multiple of these by pressing the plus sign)
• Retained Profit Account
• Currency Variation Account

Accounts

Accounts set up in the Account Setup section form the "Chart of Accounts" or "General Ledger" for your event or meeting. The codes set up here are used in your budgets, forecasts, and all accounting transactions. These codes are typically already in use by your accounting department, and should precisely match the codes used by your company. This is especially important if you are exporting financial data from your meeting to your company's accounting system.

Creating Accounts

To create a new account, press the Add Account button (bottom right), and enter the following information:

• Account Number
• Name
• Type:
  • Heading - this is used to designate an account number for use just as a heading.
  • Income Fixed - these items are typically known income items, such as sponsorships or other fixed income, contracted in advance.
  • Income Variable - most income items at a conference or meeting will be variable. This includes any income, such as registration fees, exhibitor fees and function fees that will change with the number of registrations you receive.
  • Expense Fixed - these items are typically known expense items that will not vary, such as venue rental, AV rental, staffing and other items that are fixed no matter how many registrations you receive.
  • Expense Variable - many expense items at a conference or meeting will be variable. This includes any expenses that will change with the number of registrations you receive, such as food and beverage.
• Notes - any information you want to remember about this account.
• Reference Number - legacy account number for old data.
• External Account Number - useful for linking your data to other accounting systems.
• Deactive Account - you can mark an account code as being inactive/old/unwanted by ticking this checkbox. Only unused accounts (with a 0 balance) can be marked as Deactive. 

Supplier

Suppliers are your vendors and companies that provide services for your event; these are the companies that will invoice you, and you will make payments to.

In order to properly track all of your expenses and payments you will need to create a list of suppliers within EventsAir. This is done in Application Setup, under Hotels and Suppliers.

The following fields are available when setting up Suppliers:

• Name - this is a required field.
• Internal reference
• Organization
• Company Number
• Company Tax Number
• Address Line 1
• Address Line 2
• Address Line 3
• City
• State
• Country
• Postcode
• Contact Name
• Deactive Account

Once you start incurring expenses, you can create new expense entries using the suppliers you've created.

Job Code

Once defined, job codes are used to create sub-categories of expenses, which are useful in many circumstances:

• A venue cost category which can be assigned to different classes in the CE module.
• A catering cost category which can be sub-divided into different parts of a conference, such as Pre-Conference Workshop, Conference, or Post-Conference Workshop.

Just enter the code and description as needed. You can enter any combination of text and numbers for your code.