New Features > Retainers, Escrow and Trust Accounts
New Features
Improved Bank Statement Import Document Management Retainers, Escrow and Trust Accounts Change Orders Notes on Sales and Purchases Shipping Address on Professional Invoices Expanded tax code field Updated QST Tax Type Print Prior Year T4’s and RL-1’s Payroll Tax Table Loading ahead of time Basic TD-1 Exemptions included on Cards Direct Deposit and Electronic Vendor Payments Record of Employment (ROE) Updated Financial Statements Password Protect Security Preferences Reminding all users on recurring transactions Batch Delete Migration Assistant FileConnect updated Credit Card Processing Quick Sale Receive Payment on a Receivable
Introduction
Learn about your AccountEdge software
Manuals Online help Other resources
Where to start Explore your AccountEdge software
Command centres Sidebar Action menu Calendar (date entry) Business calendar Calculator Zoom arrows Search icons Select columns Mouse shortcuts Shortcut keys Default screen font Spell-check
Setting up your company file
Overview Create a company file Easy setup assistant Set up preferences Set a password for the Administrator user ID Set up accounts Enter account opening balances
Advanced setup
Overview Set up sales Set up purchases Set up payroll Do an initial bank reconciliation
Task 1: Identify uncleared withdrawals and deposits Task 2: Record uncleared withdrawals and deposits Task 3: Reconcile
Create item records Enter your inventory opening balances Set up Business Services
Activating Business Services Set up Vendor Payments and Direct Deposits
Set up a Web Store Manage Mobile App Manage Time Tracker
Banking
Receiving money Bank deposits Spending money Entering transactions in the Bank Register window Transferring money between accounts Tracking petty cash expenses Recording miscellaneous transactions Credit card transactions Credit card payments using Merchant Account Service
Processing credit card payments using Merchant Account Service Declined authorization Timed-out authorization Voiding Merchant Account Service credit card payments
Reconciling your bank accounts
Undoing an account reconciliation
Importing statements Analyzing your cash flow
Sales
Creating a customer card Entering sales
Task 1: Enter information about the customer Task 2: Choose the type of sale Task 3: Enter the items or services you are selling Task 4: Enter additional information about the sale Task 5: Complete the sale Adding and deleting transaction lines, subtotals, and headers in sales transactions
Recording sales with insufficient on-hand item quantities
Build, buy, or backorder items Allow negative on-hand item quantities
Changing the status of a sale Reviewing your sales information Receiving payments Printing payment receipts Credit control
Credit limits Credit holds Finance charges paid by customers
Customer credits
Settling credits
Dealing with a vendor who is also a customer Accounting for bad debts Manage Retainers, Escrows & Trusts Progress Billing
Purchases
Creating a vendor card Entering purchases
Entering a purchase transaction Task 1: Enter information about the vendor Task 2: Choose the type of purchase Task 3: Enter the items or services you are purchasing Task 4: Enter additional information about the purchase Task 5: Complete the purchase Adding and deleting lines, subtotals, and headers to purchases
Receiving items without a bill
Set up an accrual account for items received without a vendor bill Record items received without a bill
Creating a purchase order from a sale Changing the status of a purchase Reviewing your purchases information Paying bills Preparing electronic payments Recording and settling vendor debits
Settling vendor debits
Adding finance charges paid to vendors
Paying your employees
Creating payroll categories
Wages Information window Deduction Information window Employer Expense Information window Editing payroll categories
Creating employee cards Entering employee payroll information Timesheets
Delete timesheet entries View timesheet reports
Processing your payroll
Task 1: Select the pay period Task 2: [Optional] Include employee timesheets Task 3: Select and edit paycheques Task 4: Record employee pays Task 5: Process payments Task 6: Print/email pay stubs
Payroll liabilities Reviewing payroll information
Viewing pay history Viewing prior year payroll reports Viewing an employee’s accrual balances Analyzing payroll Reviewing payroll liabilities
Payroll tax forms
Billing for time
About the time billing feature Setting time billing preferences Setting billing rates Creating activities Creating activity slips
Creating multiple activity slips
Reviewing and changing activity slips Creating time billing invoices Work in progress Billing Rate Levels
Inventory
Creating items
Average Cost, Last Cost, and Standard Cost
Making inventory adjustments Inventory locations
Recording inventory movements between locations
Building items
Auto-building items
Counting inventory Reviewing your inventory information Setting item prices Customizing inventory
Creating custom price levels Creating custom lists Custom lists and inventory reports Creating brands list Brands list and inventory reports Weight Creating custom fields Creating tags list Tag list and inventory reports
Lists
Adding a record
Adding records using Easy-Add
Setting up tax codes Finding a record Changing a record Inactivating or reactivating a record Deleting a record Combining records
Combining cards Combining accounts
Tracking Mileage
Company vehicles list Mileage Rates Mileage Slips
Document Manager
Transactions
Finding a transaction Changing or deleting a transaction
Changing a transaction Deleting a transaction
Reversing a transaction Recurring transactions
Setting up recurring transactions Recording recurring transactions Reminders
Publishing to iCal
Publishing an invoice or purchase to iCal Publishing a recurring transaction to iCal Publishing a reminder log to iCal
International transactions
About the multiple-currency feature Setting up multiple currencies
Task 1: Select the multiple currency option Task 2: Set up records for foreign currencies Task 3: Create accounts to track foreign-currency transactions Task 4: Assign accounts to foreign currencies Task 5: Assign currencies to foreign customers and vendors
Exchange rates Tracking currency gains and losses
Tracking realized currency gains and losses Unrealized currency gains and losses
Miscellaneous transactions
Reports
Producing reports Printing report batches Customizing reports
Task 1: Select the data to be printed Task 2: Select the required fields Task 3: Select finishing options Task 4: Change the report format Task 5: Print the report Task 6: Save the report Changing the default fonts on reports
Forms
Finding forms Sending forms
Sending forms when you record a transaction Sending forms in a batch Advanced filters
Customizing forms
Task 1: Display the form Task 2: Set up form properties Task 3: Add and edit elements Task 4: Preview the customized form Task 5: Save the customized form Task 6: Print the customized form Changing the default fonts on forms
Adding and editing elements
Adding and editing data and label elements Adding and editing graphic elements Editing all elements with common commands
Contact management
Creating a card Keeping in touch with your contacts
Personalized letters Mailing labels Reminder log Other ways to keep in touch
Grouping your contacts
Identifiers Custom lists
Synchronizing AccountEdge cards with Mac Address Book cards
Deleting cards Resetting the synchronization
Synchronizing AccountEdge cards with Microsoft Outlook contacts
Exporting your AccountEdge cards to your Outlook contacts Importing your Outlook contacts to your AccountEdge cards
Customizing cards
Card identification codes Card pictures
Reviewing your contact information
Financial control
Tracking financial information
Accounts Categories Jobs
Tracking reimbursable expenses
Task 1: Set up a job Task 2: Assign expenses to the job Task 3: Bill the customer Changing the status of a reimbursable expense
Budgets
Entering budget amounts Budget Shortcuts window
Auditing your records Reviewing financial information
End-of-period procedures
Month-end procedures
Task 1: Run the Company Data Auditor Task 2: Reconcile your bank accounts Task 3: Review reports Task 4: Send customer statements Task 5: Record depreciation Task 6: Pay payroll taxes Task 7: Lock periods
Starting a new fiscal year
Task 1: Complete month-end tasks Task 2: Perform an inventory count Task 3: Provide information to your accountant Task 4: Enter end-of-year adjustments Task 5: Back up your company file Task 6: Start a new fiscal year Task 7: Optimize and verify your company file
Starting a new payroll year
Task 1: Run your last payroll Task 2: Optimize and verify your company file Task 3: Back up your company file Task 4: Start a new payroll year Task 5: Install product updates Task 6: Run your first payroll Task 7: Restore your backup Task 8: Prepare year-end payroll forms Task 9: Print payroll reports
Managing user accounts and company files
Managing user accounts Backing up and restoring company files Servicing your company file
Chequing your company file for errors Optimizing your company file Purging information that is no longer needed Troubleshooting file-locking problems
Special considerations for networking company files
Preferences in a network environment Preventing data entry while generating reports Storing custom reports on a network Displaying up-to-date information Improving performance Alert messages—company file Alert messages—transactions Alert messages—transactions
Importing and exporting data
Exporting data Exporting to and importing from AccountantLink Importing data
Importing Quicken (QIF) files
Managing import and export records AppleScripts
Networking company files
Preparing company files for multiple users Setting up the network hardware
Setting up a company-file folder on a Mac OS X host Accessing the shared company file from Mac OS X workstations Setting up a company-file folder on a Windows host Accessing the shared company file from a Windows workstation
Glossary Index
Retainers, Escrow and Trust Accounts
You can now create Trust, Escrow and Retainer accounts with the ability to write cheques directly from the accounts. When creating a retainer, escrow or trust account, you can choose which bank account to link it to giving you the ability to track all transactions recorded to this account. You also have the ability to transfer funds from a retainer, trust or escrow account into your designated operating account automatically.
When selecting this feature in the preferences of your company file, you can select to use the term Retainer, Trust Account or Escrow within your AccountEdge Company file.
To use Retainers, Escrow and Trust accounts
To create a Retainer, Escrow and Trust
 
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