Financial Setup
Getting your dive center's financial system ready for business operations in DiverDash involves configuring several key components that work together to track income, expenses, and provide accurate financial reporting.
What You'll Learn
How to complete the initial financial setup for your dive center
How to verify that all financial components are properly configured
How to test your setup before going live with customer transactions
How to establish financial workflows for your team
Before You Start
Make sure you have:
Administrator permissions for your DiverDash account
Business information ready (bank accounts, tax ID, business structure)
Accounting knowledge or access to an accountant for guidance
Payment processor accounts set up (Stripe, PayPal, etc.) if using online payments
Bank account information for all business accounts
Financial Setup Checklist
✅ Step 1: Verify Chart of Accounts
Your Chart of Accounts is automatically created when you register your company, but you should review and customize it for your specific needs.
What to Check:
Go to Finance > Chart of Accounts in the main menu
Review the automatically created accounts for your business type
Verify account names and codes match your business structure
Add any specialized accounts you need using the account creation form
Common Customizations for Dive Centers:
Add location-specific accounts if you have multiple sites
Create specialized revenue accounts (technical diving, photography courses)
Add specific expense accounts (boat insurance, equipment maintenance)
Action Required: Review Chart of Accounts Setup Guide
✅ Step 2: Configure Payment Methods
Payment methods determine how customers can pay and where money gets deposited.
What to Check:
Go to Settings > Company > Payment Methods
Review the default payment methods and their status
Ensure all active methods have proper Chart of Accounts mappings
Configure payment processor credentials (Stripe, PayPal) if using online payments
Default Active Methods:
Cash → Cash Account (1000)
Credit/Debit Card → Cash Account (1000)
Bank Transfer → Cash Account (1000)
Stripe → Stripe Account (1020)
PayPal → PayPal Account (1030)
Wise → Wise Account (1040)
Revolut → Revolut Account (1050)
Action Required: Complete Payment Methods Configuration
✅ Step 3: Set Up Tax Management
Configure tax rates and settings for automatic tax calculation on sales and expenses.
Tax Configuration Steps:
Go to Settings > Company > Tax Configuration
Set up your default tax liability account from Chart of Accounts
Configure default tax rates for sales and business expenses
Set whether prices are entered with or without tax included
Key Tax Settings:
Default Tax Liability Account: Where collected taxes are recorded
Default Sales Tax Rate: Applied to customer sales
Default Expense Tax Rate: Applied to business purchases
Prices Entered With Tax: Whether your prices include tax
Action Required: Configure Tax Calculation Settings and Tax Management
✅ Step 4: Create Expense Categories
Set up expense categories that map to your Chart of Accounts for easy expense tracking.
Default Categories Created:
Personnel Expenses → Personnel Expenses Account (5100)
Facility/Operations → Facility/Boat Expenses Account (5200)
Equipment/Maintenance → Equipment/Vehicle Expenses Account (5300)
Marketing/Sales → Marketing/Sales Expenses Account (5400)
Administrative → General/Admin Expenses Account (5500)
Other → Other Expenses Account (5600)
To Add Custom Categories:
Go to Finance > Expenses and access the categories section
Click Add Category or New Expense Category
Map to appropriate Chart of Accounts expense account with automatic suggestions
✅ Step 5: Test Payment Processing
Before going live, test that payments process correctly and post to the right accounts.
Test Process:
Create a test customer bill
Process a small payment using each active payment method
Verify payments appear in correct bank accounts
Check that transactions record properly in Chart of Accounts
Reverse test transactions if needed
What to Verify:
Payment methods appear in checkout
Payments post to mapped accounts
Transaction records are created
Account balances update correctly
Advanced Setup Options
Bank Account Integration
If using bank feeds or reconciliation:
Set up bank account connections for automatic transaction import
Configure bank reconciliation settings
Map imported transactions to Chart of Accounts
Manual Bank Management:
Record bank deposits manually
Track bank account balances
Perform manual reconciliation
Multi-Location Setup
For dive centers with multiple locations:
Create location-specific accounts in Chart of Accounts
Set up location-based expense categories
Configure separate payment method mappings if needed
Establish location-based reporting
Staff Permissions
Set up financial access for your team:
Go to Settings > Users & Permissions
Configure who can access financial features
Set up approval workflows for expenses
Establish financial reporting access levels
Common Permission Levels:
View Only: Can see financial reports but not make changes
Expense Entry: Can record expenses but not access full financials
Financial Manager: Full access to financial features
Administrator: Complete system access
Verification and Testing
Pre-Launch Checklist
Chart of Accounts:
Payment Methods:
Tax Configuration:
Expense Management:
Reporting:
Test Transactions
Create Test Scenarios:
Customer Payment: Process a course payment using different methods
Business Expense: Record a business expense with tax
Equipment Rental: Process equipment rental payment
Refund: Test refund processing if applicable
Verify Results:
Check account balances in Chart of Accounts
Review transaction details in Finance dashboard
Generate test financial reports
Confirm tax calculations are correct
Going Live
Launch Preparation
Final Steps Before Going Live:
Complete all verification tests
Train staff on financial processes
Set up regular financial review schedules
Establish backup and data protection procedures
Staff Training Topics:
How to process customer payments
How to record business expenses
How to generate basic financial reports
When to contact financial administrator
Ongoing Maintenance
Daily Tasks:
Process customer payments
Record business expenses
Monitor account balances
Weekly Tasks:
Review financial transactions
Check for any mapping errors
Update expense categories if needed
Monthly Tasks:
Generate financial reports
Perform bank reconciliation
Review and update tax settings
Analyze financial performance
Troubleshooting Common Setup Issues
Payment Methods Not Working
Problem: Cannot process payments or payments don't appear in accounts
Solutions:
Check payment method activation status
Verify account mappings are configured
Ensure mapped accounts are active
Test with small amounts first
Tax Calculations Incorrect
Problem: Tax amounts don't calculate as expected
Solutions:
Verify tax rates are set correctly
Check "prices entered with tax" setting
Ensure tax liability account is configured
Review default tax rate assignments
Reports Show Wrong Data
Problem: Financial reports don't show expected information
Solutions:
Verify Chart of Accounts structure
Check that transactions posted to correct accounts
Ensure account types are set properly
Review date ranges and filters
Missing Accounts or Categories
Problem: Cannot find needed accounts or expense categories
Solutions:
Create additional accounts in Chart of Accounts
Add custom expense categories as needed
Map new categories to appropriate accounts
Update payment method mappings if required
Getting Help
When to Contact Support
Payment processing completely fails
Financial reports show obviously incorrect data
Cannot access financial features
System errors during setup
When to Consult an Accountant
Setting up complex Chart of Accounts structures
Configuring tax settings for your jurisdiction
Establishing financial controls and procedures
Planning for growth and scaling
Documentation Resources
Chart of Accounts Guide - Detailed account setup
Payment Methods Guide - Payment configuration
Tax Management Guide - Tax setup and compliance
Expense Management Guide - Recording business expenses
Financial Reports Guide - Generating and analyzing reports
Next Steps
After completing your initial financial setup:
Start Processing Transactions: Begin using the system for daily operations
Monitor Performance: Watch for any issues in the first few weeks
Train Your Team: Ensure all staff understand their financial responsibilities
Establish Routines: Set up regular financial review and reporting schedules
Plan for Growth: Consider how your financial setup will scale with your business
Your DiverDash financial system is now ready to support your dive center's operations with accurate tracking, automated calculations, and comprehensive reporting.
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