Creating and maintaining general ledger accounts

The following sections provide detailed explanations on defining the G/L accounts in the Advanced mode under the Basics tab.

General section

G/L Number

Type a G/L number for the G/L account. This number must be unique in order to identify the account in postings and entries. This is mandatory. When modifying G/L accounts, this field cannot be edited.

Description

Type a description for the G/L account. To type the description in other language(s), click the Language button. The languages available are based on the languages defined under the Description in list boxes section in General settings. For more information, see General settings.

Note: The Language button is available only if you have defined more than one language under the Descriptions in list boxes section in General settings at System ➔ General ➔ Settings.

Corporate G/L

Type an alternative corporate general ledger code for the G/L account created.

Note:

• This field is available only if you are using either one, or both, of the following licenses:
  • SE1068 - E-Fiscal reporting
  • SE1065 - E-Accountancy
• This field can be used to group a few G/L accounts and view the total amount in the interactive balance report. For more information, see Generating interactive balance sheet and profit and loss reports.

Subadministration

Select one of the options displayed to define the type of G/L account that you are creating. By default, the options displayed vary. This depends on the option selected under the Reporting Group section.

If Balance sheet is selected under the Reporting Group section, the following options are available:

• Neutral account
• Debtor account
• Creditor account

If Profit & Loss is selected under the Reporting Group section, the following options are available:

• Neutral account
• Revenue account
• Expense account

For certain G/L account types displayed at Subadministration, such as Asset account, Bank account, Stock account, Cash, and VAT account, these will be auto-defined by the system when the existing account type at Subadministration is updated upon completion of the relevant system setup. These G/L account types are not available as options at Subadministration when creating G/L accounts. For example, the system will change the type of a G/L account defined at Subadministration from Neutral account to Bank account when you have created a bank journal and linked the G/L account to the bank journal. This can be done only if you have initially selected Neutral account at Subadministration.

Note: When modifying G/L accounts, this field cannot be edited unless Neutral account is selected.

Default

Select this check box if you want to define the G/L account as the default debtor or creditor account.

Note: This option is available only if Debtor account or Creditor account is selected at Subadministration. A pop-up message will be displayed, requesting for confirmation to proceed when more than one default debtor or creditor account is selected.

Blocked for manual entry

Select this check box if you do not want the G/L account to be used when creating financial entries manually. Blocking a G/L account for manual entry does not have an influence on existing entries as you can still process the entries.

Note: This check box is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Presentation: Compressed

Select this check box if you want to group and display the financial entries linked to the G/L account by period in the general ledger card.

Note: This check box is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Balance

Select Debit or Credit to determine whether the balance of the G/L account is to be debited or credited. Select Debit if you want to increase the balance of the G/L account or Credit to decrease the balance.

Note: This field is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Linking

Select this check box to link two or more transactions together for reconciliation purposes in the General ledger card. By default, this is mandatory when the subadministration for the selected G/L account is of the debtor account or creditor account type. Two additional buttons, Link and Unlink, will appear in the general ledger card when you select the Linking check box.

Note: This check box is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Allow revaluation

Select this check box to allow the revaluation for the G/L account. A revaluation or adjustment on the value of assets and liabilities is made whenever there are differences in the exchange value of a currency.

Note: This check box is enabled only if Balance sheet is selected under the Reporting Group section and Neutral account, Asset account, or Stock account is selected at Subadministration. This check box is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Intercompany transactions

Select this check box to allow for intercompany transactions for the G/L account. With intercompany transactions, you can link the G/L accounts of one company to the G/L accounts of another company. Entries made in one G/L account will then affect the balance of the linked G/L account in the other company. 

Note: This check box is enabled only if Balance sheet is selected under the Reporting Group section and Debtor account or Creditor account is selected at Subadministration. This check box is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Reporting Group section

Select Balance sheet or Profit & Loss to determine the type of the created G/L account. It is possible to link to five primary and five secondary account categories. You can also create categories by clicking the New button when you click the Browse button.

Note: The five account categories under Secondary are available only when you are viewing or maintaining the G/L account in the Advanced mode.  

Analytical Required section

Select the Quantities, Item, Person, and/or Project check boxes to specify the mandatory fields that need to be filled in when creating or processing financial entries for the G/L account.

When the details of one of the selected check boxes are not filled in the financial entries, you cannot proceed to create or process the entries. This setup is determined by the option selected at Check Analytical values under the Entry section in General ledger settings at System ➔ General ➔ Settings. For more information on how to define the analytical values, see General ledger settings.

Note: This section is available only when you are viewing or maintaining the G/L account in the Advanced mode.

Where-used section

This section displays the information on where the G/L account has been used. This section is displayed when the G/L account is linked to other master data or has been used in the G/L links. By default, the Settings subsection is available under this section whereby you can select the relevant settings to be linked to the G/L account.

Note: The Where-used section and the relevant subsection(s) are available only after you have saved the general ledger account.

Settings subsection

Click Open to customize settings that can be linked to the G/L account.

Note: Different G/L accounts will have different setting options displayed in the Settings screen.

Cash instruments section

This section is available for Cash and Bank G/L accounts. Click the Details button to display the Cash instruments screen for the selected bank account number. You can modify the information at the Cash instruments screen. For more information, see Creating and maintaining cash instruments.

Note: This section is available only after you have created a cash instrument and linked the G/L account to the cash instrument at the Cash instruments screen.

Results & Transactions section

In this section, a summary of the following information in the G/L account is displayed:

• the total balance and the total debit and credit amount,
• the total processed and unprocessed amounts, and
• the date of the last transaction.

Note: This section is available only after you have saved the general ledger account and when you are viewing or maintaining the G/L account in the Advanced mode.

Notes section

Show notes upon entry

Select this check box so that the Notes screen will pop-up when you create general journal, sales, purchase, or bank/cash journal entries for this particular general ledger account. This will alert you to important information about the general ledger when creating journal entries

Click the Notes button to add a remark or view the existing remarks entered for the G/L account. In the Notes screen, type a remark, and then click OK to save the remark or Cancel to exit. You can also click Timestamp to record the time and name of the person that has entered the remark.

Simple/Advanced

Click Simple to hide the advanced criteria available under the Basics tab. Click Advanced to display the advanced criteria under the Basics tab.

Item groups

Click this to display the Item groups/Maintain screen. For more information, see Creating and maintaining item groups.

Note: This button is dependent on the type of G/L account selected. For example, if an asset account is selected, the button displayed will be Asset groups. This button is not available if another account type, such as the debtor, creditor, revenue, expense, cash, or bank account is selected.

Items

Click this to display the Items/Maintain screen. For more information, see Creating and maintaining items.

Note: This button is dependent on the type of G/L account selected. For example, if an asset account is selected, the button displayed will be Assets. This button is not available if another account type, such as the debtor, creditor, revenue, expense, cash, or bank account is selected.

Excel

Click this to export the G/L account to a Microsoft Excel spreadsheet (if Microsoft Excel application is installed). Among the transaction information displayed are date, debit amount, credit amount, our reference numbers, your reference numbers, transaction type, debtor account number, and others.

Note: This button is enabled once you have saved the G/L account.

Graph

Click this to open and display the graph and data for the G/L account by individual month or by cumulative months in Microsoft Excel. For more information, see Viewing graph summary.

Note: This button is enabled once you have saved the G/L account.

Card

Click this to display the detailed transactions for the G/L card. For more information, see Viewing G/L cards.

Note: This button is enabled once you have saved the G/L account.

New

Click this to create a G/L account.

Save

Click this to save the changes.

Close

Click this to exit.