Use this program to set up alternate G/L accounts for Posting Codes.

Some rental operators want their financial statements to show different categories of revenue. For instance, they might want to separately show:

Time & Mileage Revenue for cars
Time & Mileage Revenue for trucks
Time & Mileage Revenue for vans

Or perhaps they want to separately show:

Time Revenue on corporate rentals
Time Revenue on insurance replacement rentals
Time Revenue on retail rentals

Either of these scenarios can be accomplished by establishing separate Posting Codes for types of vehicles or separate Posting Codes for types of RAs.

Creating Posting Codes

Use the Edit G/L Posting Tables program to create Posting Codes.

When in-fleeted, each vehicle is assigned a "Posting Code". Posting codes can also be assigned to RA Types and they take precedence over the Posting Code on the vehicle record. The Posting Code defines which G/L account numbers will be used when posting revenue from RAs. Posting Codes are created in the Edit G/L Posting Tables file. If you want to separate revenue into different G/L accounts as stated above, you must create multiple Posting Codes.

Setting up default G/L accounts for rental charges and optional items

When basic rental charges, taxes, coverages and other optional items are set up in the Edit Option Codes program, a default G/L account number is entered for each item. That G/L account is used for all revenue unless alternate records are created.

Creating alternate G/L accounts

Use in this program, Edit Option Posting Account, to set up the alternative G/L accounts to be referenced by multiple Posting Codes.

Profit Centers

All GL account numbers entered on this screen MUST first be in the Valid GL Account File. If you are using profit centers on your chart of accounts, the account numbers entered on this screen must exist in the Valid GL Account File with profit center 000 AND ALL other profit center numbers. When RAs are posted, the accounts affected are selected as follows:

The 4 digit account number from this file is combined with the 3 digit profit center number assigned to the location where the RA is opened (see Locations in the Control File Manual). These two numbers become the 7 digit GL account number.

Thus, all accounts entered into this screen will reflect activity by profit center (location).

User tip: Refer to the illustration at the end of this chapter for a step by step example of how to set up separate G/L accounts for tracking revenue separately for cars and trucks.

To access the Edit Option Posting Account program, type EDOPTGL (RET) at any menu "OPTION:" field or the appropriate line number on the Accounting Control Files menu. The screen will then display:

OPTION: __ EDIT OPTIONS GL POSTING RECORDS 1 Posting Code T 2 Option Code LDW1 3 GL Account 1000 ALDFJASDFJK 1SAVE 2NEXT 3ERASE 4DELETE 5BACKUP 6 7HELP 8

Enter data as follows:

1. POSTING CODE	Enter a single character representing a Posting Code. EXAMPLE: Type T (RET).
2. OPTION CODE	Enter up to 5 characters representing an Option Code. This code must already exist in the Edit Option Codes file. EXAMPLE: Type LDW (RET)
3. G/L ACCOUNT	Enter 4 numeric characters representing a General Ledger account number. This account must already exist in the Valid G/L File. EXAMPLE: Type 4142 (RET).

The screen will then display:

OPTION: __ EDIT OPTIONS GL POSTING RECORDS 1 Posting Code T 2 Option Code LDW 3 GL Account 4142 1SAVE 2NEXT 3ERASE 4DELETE 5BACKUP 6 7HELP 8

PRESS "F1" AT "OPTION" TO SAVE.

Example:

Assume that you would like to have your financial statements show revenue earned by cars separately from revenue earned by trucks. To set this up, follow these steps:

1. Set up two Posting Codes. As an example, use "C" for cars and "T" for trucks.
2. When creating Vehicle Model Codes, enter the appropriate Posting Code on each model. When vehicles are in-fleeted, the "C" or "T" posting code will be assigned to each vehicle by the Model Code.
3. In the Edit Valid G/L Account program, enter separate G/L revenue accounts for trucks and cars. For example, this means setting up a Time Revenue account for cars and another Time Revenue account for trucks.
4. In the Edit Optional Items program, enter the basic rental charges and optional items using the G/L account numbers for Posting Code "C" (cars.)
5. In the Edit Option Posting Account program, enter records for each revenue account to be tracked for Posting Code "T" (trucks). An example is shown below.

REVENUE ITEM	CARS - Posting Code "C" These account numbers are entered in the Edit Optional Items screen as the defaults. All RAs will post revenue to these accounts unless alternate posting codes and records are set up in the Edit Option Posting Account program.	TRUCKS - Posting Code "T" These account numbers are entered in the Edit Option Posting Account program.
Time Revenue	4100	4102
Mileage Revenue	4110	4112
Discounts	4105	4108
Drop Charge	4120	4122
Fuel	4130	4132
LDW	4140	4142
PAI	4150	4152
Sales Tax	2200	*
Convention Center Tax	2210	*

• Since all Sales Tax and Convention Center Tax collected credits their respective liability accounts and doesn't need to be split between cars and trucks , there is no need to set up a record for Posting Code "T" in Edit Option Posting Accounts for these items.

Results:

When a car is rented, the Time revenue and LDW revenue will post to accounts 4100 and 4140 respectively.

When a truck is rented, the Time revenue and LDW revenue will post to accounts 4102 and 4142 respectively.