Add/Edit Chart of Accounts
This selection enables you to add or edit general ledger account numbers for each entity and department, in addition to entering monthly budgets for each account, and viewing the current balance. This option is found on the Initial Set-Up menu under Chart of Accounts Maintenance.
Account numbers are made up of 3 parts - the entity, department, and account number. Example: 01.01.1234 The entities and departments should have already been defined in the Add/Edit Entities & Depts screen. In this screen, you will define the account numbers and link them to the entities and departments.
Enter the entity ID for which account numbers will be added or edited. The entity name is automatically displayed. Enter ??? to search for existing entities. The default is the entity for the current user as specified in the team member entry screen.
Enter the department ID for which account numbers will be added or edited. The department name is automatically displayed. Enter ??? to search for existing departments.
Enter the account number, which should consist of four characters. Example: 1001 If the account number already exists, the rest of the screen will be displayed, allowing you to edit from the modifications prompt. Suggestion: Define Asset accounts as 1000s, Liabilities as 2000s, Equity as 3000s, Operating Revenues as 4000s, and Operating Expenses as 5000s, and in some cases Other Revenues as 6000s, and Other Expenses as 7000s.
Enter a description of this account. Example: ACCOUNTS RECEIVABLE
Enter the number corresponding with the type of account that is being defined. 1=Asset, 2=Liability, 3=Equity, 4=Operating Revenue, 5=Operating Expense, 6=Other Revenue, 7=Other Expense.
Numeric entries in this field enable you to define the order in which the account will appear on financial statements, which will list numerically according to the print sequence number. The account number is the default.
If the G/L Budgeting package is available on the current account, the user may choose whether or not to annualize this account on the Budget Analysis report. Entry must be Y or N. If the G/L Budgeting package is not available, this field will be display-only.
The period starting and ending dates are automatically displayed.
The amount displayed here reflects the difference between the actual debits and credits posted to this account for this period.
If the G/L Budgeting package is NOT available on the current account, the user may enter a budget amount for this period, if desired. Lines may not be added, inserted, or deleted; that type of editing may be performed ONLY in the screen to Set-Up Entities and Departments. If the G/L Budgeting package IS available, this field will be display-only.
This is the fiscal period as entered in the screen to Set-Up Entities and Departments.