Enter General Ledger Accounts Enter General Ledger Accounts
The General Ledger Accounts used by the accounting system are designed, entered and modified through this program. The format for the financial statements and all general ledger accounts should be decided on before the chart of accounts is set up.
Entering accounts is a two step process. The first step is to enter the account information. The second step is to assign a place on the financial statement using Design Financial Statements. Accounts that are not assigned will not appear on the Financial Statement and may cause it to be out of balance.
This screen can be accessed through the General Ledger Menu. The following screen comes into view when Enter Accounts is selected. Click on any column header to sort the listed accounts.
List of Accounts
Enter the desired account number in this field and the system will automatically search for the matching record. Press the lookup button to search for specific keywords. The following screen will come into view when the lookup button is pressed.
Enter one or more keywords in the blank field and press the Go button. The accounting system will return all accounts whose Account Number or Description contains the entered keywords. Select the desired account and press the OK button.
Account
The Account number is listed here. It cannot be modified from this screen. To modify the information, press the Add or Change button.
Description
This is the description of the account. It cannot be modified from this screen.
Add or Change (button)
These buttons allow the user to add or modify a specific general ledger account. Press the Add button or highlight the desired account and press the Change button. For more information, see Add or Change a GL Account.
Press the Delete button and the following screen comes into view. Press the Yes button and the highlighted record will be deleted and the previous screen comes into view. If the No button is pressed, the program returns to the previous screen.
This button closes the program and returns to the main screen.
Help (button)
see How to use help
Press the Add button or highlight the desired account and press the Change button and the following screen will come into view. This screen allows the user to set the Account Information and view the Account Balances for this account.
There are five tabs available:
1. Account Setup - This tab allows the user to enter all the basic information for this account. This tab comes into view by default when the Add or Change button is pressed.
2. Financial Statement - This tab displays the account balances for all fiscal periods.
3. Account Balances - This tab displays the account balances for all fiscal periods.
4. Distribution Sub-Accounts - This tab allows the user to select sub accounts where costs posted to this account will be distributed. Note: This tab is only visible when Distribution Account is selected on the Account Setup tab.
5. Notes - This tab allows the user to select sub accounts where costs posted to this account will be distributed. Note: This tab is only visible when Distribution Account is selected on the Account Setup tab.
This tab allows the user to enter all the basic information for this account. This tab comes into view by default when the Add or Change button is pressed.
Enter the Account Number for this account. Note: The user is prevented from changing the account number when editing an existing GL Account This field will be grayed out.
This is the description of the account.
Category
Use this drop-down list box to select which financial statement category this account belongs to. This is for display purposes only. The real location of this account on the financial statement is set either on the Financial Statement tab in this procedure or through Design Financial Statements from the General Ledger main menu.
Account Usually Carries a CREDIT Balance (radio button)
This option specifies that the account usually carries a credit balance. This will affect how the account is displayed on the Financial Statement.
Account Usually Carries a DEBIT Balance (radio button)
This option specifies that the account usually carries a debit balance. This will affect how the account is displayed on the Financial Statement.
Uncheck this box to inactivate this account. General Ledger reports can be limited to include or exclude inactive accounts.
Cash (radio button)
Cash Accounts are any account that holds cash. If this radio button is selected, Cash accounts will show up in the Management Overview cash section.
Credit Card (radio button)
Select this option if the account is a Credit Card account. Credit Card account balances will be displayed under the Short Term Liabilities section of the Balance Sheet. If a Credit Card account is used to pay an AP invoice, the credit will be posted to this account rather than a cash account. An AP Invoice should be created for Credit Card statements that will then be posted against the Credit Card account, relieving the short term liability and transferring the amount to Accounts Payable.
Sales (radio button)
Sales accounts are accounts to which income is credited. This radio button must be set in order for the Profit & Loss Statement to calculate revenue percentages properly.
Accounts Receivable (radio button)
Accounts Receivable accounts are accounts that hold amounts receivable from customers. The balance of the total of all receivables accounts should match the total of all open A/R Invoices at any given time.
Accounts Payable (radio button)
Accounts Payable accounts are accounts that hold amounts payable to vendors. The balance of the total of all payables accounts should match the total of all open A/P Invoices at any given time.
Subcontracts Payable (radio button)
Subcontracts Payable accounts are accounts that hold amounts payable to vendors. The balance of the total of all payables accounts should match the total of all open A/P Subcontract Invoices at any given time.
None of the Above (radio button)
If the account does not fit in any of the aforementioned categories, no account type should be assigned.
Checking Account (check box)
Any account may be designated as a checking account. Check registers may be printed and Bank Statement Reconciliation may be performed for accounts marked as checking accounts.
Distribution Account (check box)
If this box is checked, the Distribution Sub-Accounts tab will be enabled.
Credit Limit
If the Account is a Credit Card, the Credit Limit field will be available. Enter the Credit Card Limit in this field.
Warning Limit
If the Account is a Credit Card, the Warning Limit field will be available. Enter the Credit Card Balance Limit at which the user will receive warnings. This limit can be used to warn the user when the account balance nears the Card Credit Limit.
This button is only available when the Checking Account check box is selected. Press the Bank Account Information button and the following screen comes into view.
This option allows the user to enter the account information for the Checking Account that will be used for this General Ledger Account. This information is necessary when then user selects Magnetic check formats, or a check that prints the company, bank, and MICR-encoded account information on a blank check.
General Information
Bank Name
Enter the Bank name here.
Address 1
Enter the first line of the above mentioned bank's address.
Address 2
Enter the second line of the bank's address if applicable.
City State Zip
Enter the city, state and zip code for the bank entered previously.
ABA Routing Number
Enter the routing number assigned by the American Banking Association (ABA). This is the same number entered above in the Miscellaneous Payroll Setup section.
Bank Account Number
Enter the bank account number assigned to the account by the bank.
Deposit Ticket Routing Number
Enter the routing number for cash deposits. This is the number that will be printed on the Deposit Ticket in Receipts Entry.
Company ID Assigned by Bank
Enter any special number assigned by the bank. Usually this is a number the bank requires to be present in an ACH transfer document.
Accounts Payable Check Format (drop-down list box)
Select the type of check format to be used for Accounts Payable checks written on this account. The normal value for this field is "Default," which means that checks written on this account will use the check format specified in the Setup > Accounting Options > Accounts Payable window. If "FormMaker" is selected, a field will be available for specifying the FormMaker check format file to be used for this account.
Payroll Check Format (drop-down list box)
Select the type of check format to be used for Payroll checks written on this account. The normal value for this field is "Default," which means that checks written on this account will use the check format specified in the Setup > Accounting Options > Payroll Options > Postings & Paychecks window. If "FormMaker" is selected, a field will be available for specifying the FormMaker check format file to be used for this account.
Next Available Check #
This option allows the system to automatically track check numbers. Enter the Next Available Check Number to be used in this checking account.
Next Available Voucher #
The system can keep track of the last used Direct Deposit Voucher number. The next time Direct Deposit Vouchers are created during Paycheck Printing, the system will start at this number.
Direct Deposit / Electronic Funds Trnasfer Information (ACH File)
Folder Location for ACH File
Enter the location where the ACH text file should be stored at the end of a Payroll or Accounts Payable check run that includes EFT or Direct Deposit payments.
Company Name
Enter the Company Name that should show up in the first line of the ACH text file. This may or may not be the same as the Company Name stored in the system.
Federal Tax ID
The Federal Tax ID is entered through Setup > Accounting Options > Payroll on the Federal Taxes tab. It is displayed here for reference only because it is part of the text string in line 2 of the ACH file.
Print Order for ACH Line 101
These options refer to the ACH text file generated during paycheck printing. One of the first lines in the file is referred to as the 101 Line. The order of the information printed on this line varies from bank to bank. After consulting with the Direct Deposit specialist at the bank, the user can specify the order using these settings. As different options are selected, the Example ACH Header Lines at the bottom of the window will be modified to reflect the change.
Print Using ALL CAPS (check box)
Check this box to make all alphabetic characters in the file be generated in capital letters.
Include Line for Offset Amount (check box)
Some banks require an extra line item in the file that shows the total amount that will be withdrawn from the cash account to cover the transferred amounts. Check this box to make the system generate this line during check printing.
Identification Code Designator (ICD) for EFT Transactions
Enter a digit as assigned by bank.
Reference Code
By default, this field will contain the name of the accounting package. This may be changed as directed by the bank.
Trace Number
Enter the trace number assigned by the bank.
Example ACH Header Lines
In this section a mockup of the main header lines of the ACH file is displayed. Some of the areas of the mockup are boxed. When the cursor is hovered over any of these boxed areas, the source field for that portion of the header record will be highlighted in yellow above.
Press the Financial Statement tab to view the financial statement setup for this account. The following screen will come into view.
Here the financial statement design is displayed. The current account shows up in RED in the list box. Using the buttons on this window, the account can be moved up or down in the financial statement. It can be made a member of an existing Master line item or it can be a Single line item on its own.
Remove Account from Highlighted Statement Line Item
Press this button to remove the highlighted instance from the displayed financial statement.
Press the Account Balances tab and the following screen comes into view. This screen displays the account balances for all fiscal periods.
Today's Balance
This displays the current balance in the account as of today.
This is the number of the Fiscal Period.
Fiscal Period Description
This is the description of the Fiscal Period. Example: January 1998
This is the total amount in the account over the whole period.
This is the running balance of the account.
If this account has been flagged as a Checking Account on the Account Setup tab, this button will be visible. Click the button to see an interactive Check Register for the current account.
View Detail by Account (button)
Click this button to see a list of all the transactions for the current account for the highlighted fiscal period. This feature is described in the Accounting Overview topic.
Distribution Sub-Accounts (tab)
Press the Distribution Sub-Accounts tab and the following screen will come into view. This screen displays the sub-accounts for the selected account and their respective distribution percentages.
Sub Account
This field shows the account number for each sub account.
Description
This field shows the account description for each account.
Percent
This field shows the distribution percentage for each account.
Apportion Percentages Equally (button)
Press the Apportion Percentage Equally button to equally distribute the posted amount among all selected sub accounts.
Press the Add or Change button and the following screen will come into view.
Subsidiary Account Number
Select the Subsidiary Account Number from the dropdown list.
Percent
Enter the percent of costs that should be distributed to this account.
Delete (button)
Press the Delete button and the following screen comes into view. Press the Yes button and the highlighted record will be deleted and the previous screen comes into view. If the No button is pressed, the program returns to the previous screen.
On this tab enter any notes that pertain to this account.
Date
The date the note was entered.
Heading
The subject of the note is displayed. This is user defined.
Note
This is the first portion of the note. Click the Change button to see the entire note.
Add or Change (button)
This button accepts the changes made and returns to the Enter Accounts screen. Warning: The process for entering accounts is not complete until this account is assigned a place on the Financial Statement using Design Financial Statements. Accounts that are not assigned will not appear on the Financial Statement and may cause it to be out of balance.
Help (button)
see How to use help