Add accounting codes for a better way to track expenses

Group admins can now add accounting codes to events so they can better track their finances on the reporting side of things!

Note: This is a premium feature, available on OpenSports’ Full Time Club Plan.

Examples of how you might assign accounting codes:

  • By sport if you are a multi-sport organization (i.e., soccer gets the code 101, kickball 201, volleyball 301, etc).
  • By facility
  • By program type — i.e., figure skating lessons having one code, regular skating having another code, hockey being another code
  • By instructor

How to assign Accounting Codes to events

  • When you are creating an event, in the Payment section, you will see an option called Accounting Code.
  • To add an accounting code, click on the Add button
  • Note: All admin tiers (group admins, event admins, and event managers) can add accounting codes during event creation
  • When you click Add, a window will appear with the fields Accounting Code and Name. Note: An Accounting Code is the same as a General Ledger Code (GL Code) which is a string of alphanumeric characters assigned to each financial entry in an organization’s ledger.
  • In the example above, I have created a code for morning pickup games. Now, whenever I create a morning pickup game, I can automatically select that code, so that all morning pickup games are tracked under the same code.

How to export financial data broken down by accounting codes

  • From your groups home page, click on Reports
  • Click on the Event Transactions tab
  • Scroll all the way to the right and you will see the Accounting Code column
  • You can Download this spreadsheet in order to sort the data!

For more info about the basics of Accounting codes/GL Codes, refer to this article here.

If you have questions for us, shoot us an email at contact@opensports.net !