Set up accounting

Before you register expenses and income, it’s worth setting up how your institution classifies them: the analytic levels and ledger accounts they’re allocated to, the taxes and withholdings that apply, and your own bank accounts. You set them up once and they apply to everyone. They’re in Settings › General settings, in the Finance section.

You need permission

This option only appears if your access role allows it. If you don't see it, ask the person who manages your institution to review your role.

Analytic levels

They let you classify expenses and income on up to three levels, for example area › programme › activity. Each second-level item belongs to one or more first-level items, and each third-level item to one or more second-level items: when you allocate an expense, only the ones that belong to the level you chose before are offered.

1. Open Analytic Levels.
2. In Level 1, click Add, enter the name and a Short code of up to 4 characters and click Save.
3. In Level 2 and Level 3, add them the same way and choose in Linked to (Level 1) or Linked to (Level 2) which ones they belong to.

To stop a level from being offered when allocating, turn off Active on its row. Expenses that already had it keep it.

To get all three levels in a spreadsheet, click the Download as Excel icon at the top right: it downloads an Excel file with one sheet per level.

Ledger accounts and expense items

1. If you want to group your accounts, first open Expense Items, click Add expense item, enter its name and save.
2. Open Ledger Accounts and click Add ledger account.
3. Enter the account’s name and Number, for example the one in your chart of accounts, and choose its Expense item if it has one.
4. Click Save.

When you allocate an expense or income, accounts are shown with their number and name, and the balance can be broken down by ledger account. The Download as Excel icon, next to the search box in Ledger Accounts, downloads all the accounts to an Excel file.

Taxes and withholdings

1. Open Taxes and click Add tax.
2. Enter the name, for example “VAT 21%” or “Income tax withholding 15%”.
3. In Category, choose Tax or Withholding.
4. In Type, choose Percentage for a percentage of the taxable base or Fixed for an amount in euros.
5. Enter the Amount: positive if it adds, like VAT, and negative if it subtracts, like an income tax withholding. For an exempt transaction, 0.
6. Click Save.

The category decides which group it appears in when you choose it on an expense; the sign of the amount, whether it adds or subtracts. If a rate changes, create a new tax instead of editing the one you use: saved invoices aren’t recalculated until you save them again.

Your institution’s bank accounts

1. Open Bank Accounts and click Add account.
2. Enter an Alias to recognise it, the account holder, the bank, the IBAN and, if you have it, the BIC/SWIFT.
3. Turn on Default if it’s the account you normally use. There can only be one.
4. Click Save.

The default account is suggested as the collection account for income and as the debtor account when you export a SEPA remittance, as explained in Pay suppliers with a remittance. Expenses are paid to the supplier’s account, not yours.

The analytic code

On each expense or income, Analytic codes shows one code per allocation, ready to copy into your accounting software. It’s made up of the short code of each analytic level, the project’s Internal code and the ledger account number. The internal code is entered in the project’s artistic file; if it doesn’t have one or there’s no project, that part shows as 0000.

Due dates and validation dates can also be calculated automatically: see Calculate dates automatically.

If it doesn’t work

• It won’t let you delete an analytic level, ledger account, expense item or tax. It has already been used. If it’s an analytic level or a tax, turn off Active so it’s no longer offered.
• An analytic level doesn’t appear when allocating. It’s inactive, or it doesn’t belong to the level you chose before: check its Linked to (Level 1) or Linked to (Level 2).
• A withholding adds instead of subtracting. Its amount is positive: edit it and enter it as a negative number.
• A tax doesn’t appear when you register an invoice. It’s inactive: only the ones with Active ticked are offered.
• Invalid IBAN or Invalid BIC/SWIFT (8 or 11 alphanumeric characters) appears. Check that they’re complete and correct.
• The button to add a tax, ledger account, expense item or bank account is disabled. Select a contract to add appears: you have contracts from several institutions selected at the top. Choose one in Contract.
• You work with several institutions and see another one’s data. At the top, in Contract, choose a contract from the institution you’re setting up.
• You don’t see General settings. Your access role doesn’t include it. Talk to the person who manages your institution.

We will never ask you for your password or bank details by email. If you receive a message asking for them on behalf of Weikos, don’t reply and write to us at help@weikos.io.