A chart of accounts is made up of segments that serve as placeholders for accounting codes. These segments correspond to the accounting codes your organization uses to categorize and identify how funds are spent. For example, you might need a chart of accounts with four segments—Entity, Cost Center, GL, and Project—that contain the accounting code values that are relevant to your cardholders' transactions.
Accounting codes can be entered directly by users when they edit a transaction, or they can be configured to be assigned to transactions automatically. By associating a chart of accounts and selected accounting code values to such entities as accounts, employees, merchants, Merchant Category Codes, hierarchy nodes, or customer codes, you create default accounting codes that are automatically associated with the transaction data loaded into PaymentNet.
For example, you might have a cardholder, Jane Smith, who belongs to Project 3546. You can create a chart of accounts and accounting codes for Project 3546 and assign them to employee Jane Smith. This way, Jane Smith’s transactions are automatically assigned to Project 3546 when they are loaded into PaymentNet.
For more information about assigning a chart of accounts and accounting code values to various entities, see Default Accounting Codes.
This section explains the following: