PaymentNet provides you with accounting tools that help you streamline how your organization manages transaction data. These tools include the chart of accounts and accounting codes.
A chart of accounts is a predefined accounting structure, or template, that is used to classify accounting codes. Your organization can use this feature to categorize and identify how funds are spent.
Accounting codes identify the type of product or service purchased. They can be entered directly or assigned automatically to a transaction based on default accounting codes defined for accounts, employees, merchants, Merchant Category Codes (MCCs), customer codes, and transactions.
You can create and modify a chart of accounts within PaymentNet, or your J.P. Morgan implementation manager can upload your organization’s existing chart of accounts for you. For more information, contact your J.P. Morgan implementation manager.