Organizations often separate their individual departments, affiliates, partners, and subsidiaries, etc., into Business Groups to divide operations for reporting purposes. A Business Group is made up of a Chart of Accounts, a Merchant Account, and the Business Group's particular products (Items).
In order to link the Items available within a specific Business Group, the system requires the identification of a Deposit Account and an Accounts Receivable (AR)Account.
How to Update Default Account and Contact Preferences:
If an organization consists of only one entity, one set of books, and a single payment system, it can set up a default Business Group along with a default set of General Ledger (GL) Account. First, create the Business Group and its own set of GL Accounts.
Navigate to the Charge app in Fonteva Framework.
Scroll Down to the Settings Pages section and click eBusiness User/Profile Preferences. The eBusiness User/Profile Preferences page will open.
Verify the Business Group and its related Accounting information are correct.
Change the Payment Terms so they're to your liking.
Note
This must be done by deleting the current term, typing the name of the new term into the text box, then selecting it once it appears in the picklist.
When finished, click Update Organization Wide Default Preferences.
