Central accounting categories let you define and manage a consistent chart of accounts at the portfolio level. You create categories once in Mews Multi-Property, assign them to any number of properties, and updates you make at the portfolio level flow automatically to every assigned property.

 

You can create a central accounting category from scratch or use an existing local configuration as a starting point. Once you create a category, you can assign it to properties across your portfolio.

 

In this article, you can learn about:

• Create a central accounting category in Mews Multi-Property
  • Start from scratch
  • Use existing configuration

 

Create a central accounting category in Mews Multi-Property

Start from scratch

1. In Mews Operations, go to the main menu  > Accounting categories.

2. Click Create central accounting category in the top-right corner.
3. Select Start from scratch.

4. In the Details step, complete the following fields:

• Name: The name of the accounting category.
• Classification: Recommended categories from the International Financial Reporting Standards (IFRS). Use this field only if your accounting software requires this information.
• Accounting category key: A code for internal tracking in Mews.

5. In the Configuration step, complete the following fields. Mews recommends you consult your accounting team before filling these in:

• Ledger account code : Use this mapping code to connect Mews with your accounting software. For example, if "Accommodation" has a ledger code of 100 in your accounting software, it must also be 100 in Mews.
• Posting account code: Use this code to define which entity you want to book revenue to. For example, if you have multiple hotels running through one system and want to see a split.
• Cost center code : Use this code to differentiate departments. For example, if you need to book all bar revenue to the cost center "Restaurant".
• External code : The bookkeeping code for external use.

6. Click Save.

The category appears in the list and is ready for you to assign it to properties.

 

Note: The system automatically generates the external identifier from the name, and it must be unique across your portfolio. If there is a conflict, adjust the name and save again.

 

Use existing configuration

If you have already set up accounting categories in a property's Mews, you can use one of them as a template for your central category. This saves you from entering the configuration again from scratch.

1. In Mews Operations, go to the main menu  > Accounting categories.

 

2. Click Create central accounting category.
3. Select Use existing configuration.

4. Select a Property from the dropdown, then select one of its existing local Accounting categories.
5. Click Next.
6. The Details and Configuration steps pre-fill from that local category.

4. Review and update the pre-filled values as needed.
5. Click Save.

The category appears in the list and is ready for you to assign it to properties.