When setting up Accounting categories, you will most likely want to consult it with your accountants as this setup would be important mainly for them. Accounting categories in Mews serve to separate revenue accordingly for the needs of the hotel and its accountants or in some cases for some of the integrations that you may be working with.
Accounting categories also bring additional way how to look at the data in Mews' reports that deal with revenue -> Manager report and Accounting report. Where you can select the grouping based on Service, Accounting category and Accounting category classification (see below).
Should you not be using any specific accounting system that requires deeper stratification or integration that specifically needs it, you don't need to bother with setting up the accounting categories.
Name: here you select the name of the Accounting category that will appear in reports and its exports. E.g. Minibar Beverages, Room Revenue, Rentals, etc.
Items not taxable: this tick-box is applicable only for the Sage accounting export. Should you be using this export, your accountants will advise.
Code: in this field you fill in the code of the Accounting category that you wish for the Accounting report export to include.
External code: should your accounting system have some sort of codes for the categories, you add the code here, so that your system is able to recognise the items.
Cost centre code: this field is to identify department to which should the costs be allocated.
Ledger account code: specific field for double-entry bookkeeping.
Posting account code: specific field for double-entry bookkeeping.
Classification: certain integration partners (e.g. Snapshot) need to have specified what the accounting category is used for. E.g. it needs to be defined which of the categories are linked to accommodation. You can run Accounting report and Manager report based on the classification too. However, if you weren't informed to use this field, you don't need to select anything.
Good to know
- You can assign the Accounting category to services, products, refunds, cancellations, deposits, payment types, specific rates or specific room types.
- When you change Accounting category of certain item, the new accounting category would apply to the items accounted in the past as well.
- The fields External code, Cost centre code, Ledger account code and Posting account code are specific accounting fields that are only part of specific accounting exports (not the Accounting report excel). Your accountant will advise.
- Watch our video regarding the Accounting categories which will help you to better understand how to set them up properly and how they work.