Atlas uses Payment Types to track the different payments your receive, either manually by staff or online through your website. Payment Types are connected to your Accounting Package and Account Codes, so that the revenue can be tracked appropriately. You can also Flag Payment types with different attributes so that they are reported on easier. Click here to see a detailed explanation of Atlas's revenue structure.
Follow these steps to set up Payment Types:
- Go to Admin > Manage Codes, then click Revenue Codes > Payment Types. The Payment Types window will open.
- Click Add a Payment Type.
- Fill in the Name and Description fields.
- Select the Accounting Package this Payment Type should be connected to. If you don't have one here, you should close this window and create an Accounting Package first. Click here to learn how to create an Accounting Package.
Note: Payment Types can only be connected to one Accounting Package. If you manage multiple Accounting Packages, you will need a set of Payment Types for each one.
- Select the Debit and Credit Accounts this Payment Type should use from the drop-down menus. If you don't have one here, you should close this window and create an Account Codes first. Click here to learn how to create an Account Codes.
- Check the Attribute Flags that are appropriate for this Payment Type:
- Credit Card Type - This will enable the Credit Card Gateway drop-down menu so you can attach this Payment Type to your Credit Card Gateway.
- Check Type - This will mark these payments as Checks in Revenue Reports
- Cash Type - This will mark these payments as Cash in Revenue Reports
- ACH Type - This will enable the Credit Card Gateway drop-down menu so you can attach this Payment Type to your Credit Card Gateway.
- Click Save.
- Set the Debit Account to the General Ledger Account that is debited when a payment using this Payment Type is posted. Usually, this is a Cash/Bank or Operating account.
- Set the Credit Account to the General Ledger Account that is credited when a payment using this Payment Type is posted. Usually, this is a Receivables account. If ALL of your Revenue Items are flagged as Cash Basis, you can leave this field blank. If you have a mix of cash and accrual Revenue Items, simply fill in the Credit Account with the appropriate Receivables account for the accrual items, and the cash basis payments will simply ignore this field
- If you take credit cards outside of Atlas but need to track the Payments accordingly in Atlas, create a Payment Type called "Offline Credit Card" but do not attach it to a Credit Card Gateway. This way, you can track the money appropriately but Atlas will not prompt you to run the card.