Start by adding your base currency Add your GL accounts Add your tax information Add bank information Add financial codes

Financial Setup

After employees, the Financial module is one of the first modules to set up in OnRamp as the currency, tax, general ledger, and banking information is required on later screens.

Each section requires its own setup based on the following order:

  • Currency

  • GL, or General Ledger

  • Banking

  • and Tax

Financial Setup Workflow

The Financial module setup should be updated by entering data on the following screens:

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  1. First, on Currency Exchange Rates and Revaluation [S1071], set up the currencies you are using.

  2. Next, setup the GL accounts on GL Account/Code Maintenance [S1096].

  3. Then, you will need to set up your tax codes and rates on Tax Profiles and Codes [S1072].

  4. With that information setup, you can setup your bank information on Bank Master [S1091].

  5. Finally, add any required finance codes on Finance Code Maintenance [S2322].

With this setup complete, you can determine where to deposit customer received funds. Likewise, when your company issues a payment, you can determine which bank account the funds will come out of.

For example: When receiving a payment on Customer Receipt Maintenance [S1056] or making a payment to a vendor on Select for Payment [S1548], you can select a bank, an account number at the selected institution, and the associated bank GL account.