You can set the GL accounts and charge codes that Kube uses as defaults for different configurations and transactions in Kube. You can override these options when you complete configurations and financial transactions. If you are unsure which GL accounts to use, contact your accountant for more information.
This article is part of the Kube accounting setup flow. For more information, see Kube setup checklist.
NOTES:
Depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
Do not leave any of the default GL account fields blank. All are required for Kube to function correctly.
Kube comes with preset GL accounts and charge codes that you can edit. For more information, see GL Accounts & Charge Codes.
To set default system GL accounts and charge codes
Select your Personal Profile in the top menu and select System Settings from the drop-down menu. The Operator Profile screen appears.
Select Accounting in the side menu and select the Account Settings tab.
Click the Edit button.
In the Default GL Accounts section, complete any fields you want to change. For field descriptions, see the Default GL Accounts Screen Reference at the end of this article.
In the Default Charge Codes section, complete any fields you want to change. For field descriptions, see the Default Charge Codes Screen Reference at the end of this article.
Click Save.
TIP: The next step in the Kube accounting setup process is to format invoice number length. For more information, see Formatting invoice number length.
Default GL Accounts Screen Reference
Default Cash Account | Account linked to your real world bank account, where Kube deposits electronic transactions and where you deposit your cash and check transactions.
NOTE: The Kube default is 1110 Operating Cash, which has the following default configurations: Debit Balance, Regular Account Type, and Balance Sheet Report. |
Current Retained Earnings | Account used for current net income that has been carried forward from month-to-month.
NOTE: This account is generally a capital account. The Kube default is 3800 Retained Earnings, which has the following default configurations: Credit Balance, Regular Account Type, Balance Sheet Report.
If you use Yardi Voyager Accounting, after you close the fiscal year, you must transfer the balance of this account to a prior year's retained earnings account so that you begin the new year with a zero balance for retained earnings. For more information, see "End of Period Closing Procedures" in the Yardi Voyager Core User's Guide. |
Accounts Payable Account | Account used for funds that are owed and must be paid out.
NOTE: The Kube default is 2200 Accounts Payable, which has the following default configurations: Credit Balance, Regular Account Type, Balance Sheet Report. |
Accounts Receivable Account | Account used for received amounts that are yet to be paid.
NOTE: The Kube default is 1300 Accounts Receivable, which has the following default configurations: Debit Balance, Regular Account Type, Balance Sheet Report. |
NSF Bank Fee Account | Account used for NSF bank fees paid by the operator.
NOTE: The Kube default is 6510 Bank Fees. |
Prepay Income | Account used for prepayments when you use cash accounting.
CAUTION: If you use Yardi Voyager Accounting, you can review financial statements on either a cash accounting basis or an accrual accounting basis. Cash accounting recognizes prepayments as income, while accrual accounting recognizes prepayments as liabilities. For this reason, the recommended setup for default prepay accounts requires separate GL accounts for the Prepay Income and Prepay Liability accounts.
Prepayments are considered liabilities in Kube. For more information, see Liability Reports overview.
NOTE: The Kube default is 4520 Prepaid Rent, which has the following default configurations: Credit Balance, Regular Account Type, Income Statement Report. |
Prepay Liability | Account used for make prepayments when you use accrual accounting.
CAUTION: If you use Yardi Voyager Accounting, you can review financial statements on either a cash accounting basis or an accrual accounting basis. Cash accounting recognizes prepayments as income, while accrual accounting recognizes prepayments as liabilities. For this reason, the recommended setup for default prepay accounts requires separate GL accounts for the Prepay Income and Prepay Liability accounts.
Prepayments are considered liabilities in Kube. For more information, see Liability Reports overview.
NOTE: The Kube default is 2210 Prepaid Rent, which has the following default configurations: Credit Balance, Regular Account Type, Balance Sheet Report. |
Security Deposit GL Account | Account used for security deposits and to calculate company security deposit balances.
CAUTION: Use separate accounts for the Security Deposit GL Account and the Security Deposit Refund GL Account.
NOTE: The Kube default is 2250 Security Deposits, which has the following default configurations: Credit Balance, Regular Account Type, Balance Sheet Report. You can only enter a security deposit GL account in this field. |
Security Deposit Refund GL Account | Account used to refund security deposits.
CAUTION: Use separate accounts for the Security Deposit GL Account and the Security Deposit Refund GL Account.
NOTE: The Kube default is 2270 Clearing Deposits, which has the following default configurations: Credit Balance, Regular Account Type, Balance Sheet Report. You can only enter a security deposit GL account in this field. |
Default Charge Codes Screen Reference
Space in Contracts Charge Code | Charge code used for space charges from contracts made through contracts or from monthly bookings.
NOTE: The Kube default is Rent. |
Booking Charge Code | Charge code used for hourly and daily booking costs from bookings made through bookings calendars.
NOTE: The Kube default is Booking of Space. |
Booking Cancellation Fee Charge Code | Charge code used for cancellation fees from canceled hourly and daily bookings made through bookings calendars.
NOTE: The Kube default is Booking Cancellation Fee. |
Security Deposit Charge Code | Charge code used for security deposit charges.
CAUTION: Kube uses the GL account in the Security Deposit GL Account field to calculate company security deposit balances. If this charge code does not link to the GL account in the Security Deposit GL Account field, Kube cannot correctly calculate security deposit balances.
Use separate charge codes for the Security Deposit Charge Code and the Security Deposit Refund Charge Code.
NOTE: The Kube default is Security Deposit. You can only enter a security deposit charge code in this field. |
Security Deposit Refund Charge Code | Charge code used for security deposit refund charges.
CAUTION: Kube uses the GL account in the Security Deposit GL Account field to calculate company security deposit balances. If this charge code does not link to the GL account in the Security Deposit GL Refund Account field, Kube cannot correctly calculate security deposit balances.
Use separate charge codes for the Security Deposit Charge Code and the Security Deposit Refund Charge Code.
NOTE: The Kube default is Security Deposit Refund. You can only enter a security deposit charge code in this field. |
NSF Company Fee Charge Code | Charge code used for NSF fees paid by your companies.
NOTE: The Kube default is NSF Charge. |
Late Fee Charge Code | Charge code used for late fees.
NOTE: The Kube default is Late Fees. |
Setup Fee Charge Code | Charge code used for setup fees.
NOTE: The Kube default is Setup Fee. |
Write-Off Charge Code | Charge code used for write-off charges.
NOTE: The Kube default is Write-Off. |
Partial Refund Charge Code | Charge code used for partial refunds.
NOTE: The Kube default is Partial Refund. |
Termination Penalty Charge Code | Charge code used for contract penalty charges.
NOTE: Kube does not provide a default charge code. |