Accounts in TeamConnect let you electronically track posted transactions, such as expenses, tasks, and invoices. By default, TeamConnect accounts are not tied to actual monetary accounts or billing systems and are provided for record-keeping purposes. There are two types of accounts:

•Budget—An amount of money set aside by the organization or its individual departments to do business for a specific period of time, such as the fiscal year.

•Reserve—Money allocated from the budget for the settlement of matters, such as paying outside counsel fees and other costs.

All transactions (tasks, expenses, invoices) can be posted to their designated accounts. Each account can be set to track transactions according to the desired posting criteria, such as a combination of projects, vendors, involved contacts, or types of transactions. If an invoice posts to an account, the Transactions page of both the account and invoice displays the monetary amounts that are debited or credited to the account as a result.

The following flowchart illustrates how you can use accounts. Click areas of this flowchart for more information.

Account Record Pages

There are four account-specific pages:

•The General page lets you enter information about the account. In addition, you can deposit funds, withdraw funds, or transfer funds.

•The Transactions page displays a history of the account's posting and voiding status.

•The Posting Criteria page lets you set criteria for transactions that can post to the account, such as expenses, tasks, invoice expenses, or invoice tasks.

•The Child Accounts page displays an account's related child accounts.