Chapter 4 - Establishing Pro Gold XP Defaults

Helpful Hints

• Fields denoted in Red indicate a required entry

In Company Tab (Setup Tab => Change Company Info Icon => Company Tab)

• Verify Company Name, Phone #, & Federal Tax  ID
• Verify Address, City, State info (used for 1099 reporting)
• Default Bank Account & Company Check Recipient fields will be addressed in later training sessions

In GL Defaults Tab (Setup Tab => Change Company Info Icon => GL Defaults Tab)

• It is recommended you select Use Transaction Date for GL Post Date
• Verify Sales Tax Rates (only if charging for invoice line items)

In Escrow Defaults Tab (Setup Tab => Change Company Info Icon => Escrow Defaults Tab)

• When handling escrow activity through Pro Gold XP, the system requires that you setup an escrow cash account and an escrow liability account
• Verify/edit Escrow Liability Debit/Credit G/L accounts
• In most cases, your Escrow Liability account will be 2500
• The escrow cash and liability accounts should always offset each other on the Balance Sheet
• Assign default Escrow bank account
• Verify/edit Undeposited Funds G/L account (Used primarily for invoicing module)
• Verify/edit default Commission Percent

In Closing Statement Tab (Setup Tab => Change Company Info Icon => Closing Statement Tab)

• Verify company info in top of tab
• Edit/enter standard closing statement clause