Creating and modifying division general ledger accounts

Save

Click this to save the created general ledger account information.

Save + New

Click this to save the general ledger account information and create a general ledger account.

Close

Click this to exit.

The following buttons are available if you are editing the general ledger accounts.

Delete

Click this to delete the selected general ledger account. A message "Confirm: Delete?" will be displayed. Click OK to delete the general ledger account or Cancel to exit.

Recode

Click this to modify the general ledger account number. For more information, see Recoding general ledger accounts.

Note: This button is available only if you have cleared the General ledger check box at System à Setup à Central Master Data Management à Settings.

Merge

Click this to combine the information of the general ledger accounts. For more information, see Merging general ledger accounts.

Note: This button is available only if you have cleared the General ledger check box at System à Setup à Central Master Data Management à Settings.

General section

Division

By default, the division displayed is based on the option you select at Report when you display the chart of accounts. For more information, see Displaying chart of accounts.

G/L

Type a general ledger number for the general ledger account. This is a unique number. A general ledger number is normally used to differentiate the available general ledger accounts. This is mandatory. You can type up to a maximum of nine digits.

Note: This is enabled only if you are creating a general ledger account.

Description

Type the description for the general ledger account. The description that you create is used as a reference in the respective reports to easily identify the available general ledger accounts.

Type / Debit/Credit

Select B/S or Profit & Loss to determine the type of general ledger account you are creating.

Note: It is important that you select the correct type of general ledger account as this setting will determine whether the financial entries of the general ledger account is registered to the balance sheet or profit & loss statement.

At Debit/Credit, select Debit, Credit, or None to indicate the type of entry for the general ledger account. This determines which side the balance of the general ledger account should be presented. This is displayed at the balance sheet or profit & loss statement.

For example, when you select Debit for a general ledger account and the balance is negative, the system will always display the general ledger account at the debit side of the balance sheet or profit & loss statement. When you select None, the system will always display the negative balances at the credit side and positive balances at the debit side.

Subtype

Select one of the following subtypes for the general ledger account:
·         Asset account
·         Bank account
·         Cash
·         Creditor account
·         Debtor account
·         Expense account
·         Neutral account
·         Revenue account
·         Stock account
·         VAT account
·         Customer account
·         Neutral account
·         Vendor account

Note: The Customer account, Neutral account, and Vendor account subtypes are available if B/S is selected at Type. However, these subtypes are available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Default

Select this check box if you want the selected subtype to be the default.

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Policy

Type or select a document number to attach a document to the general ledger account if required. The document that you attach here is normally the guidelines on how to use the created general ledger account.

Note: You will need to create the related documents before you can attach them to the relevant general ledger account(s).

G/L: Corporate

Type or select a general ledger account number to link a corporate general ledger account to the created division general ledger account.

Blocked

Select this check box to block the general ledger account you created.

Show notes upon entry

Select this check box if you want to view the notes for the general ledger account.

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Exclude VAT listing

Select this check box if VAT does not apply to the general ledger account.

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Presentation: Compressed

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

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Linking

Select this check box to link two or more transactions together for reconciliation purposes in the general ledger card.

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Allow revaluation

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

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Intercompany transactions

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

Note: This check box is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

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 general ledger account.

Note: This section is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Extra section

Note: This section is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.

Cash flow statement

Select a cash flow statement for the general ledger account. By default, Assets is displayed.

Inv. Register type

Select the invoice register type for the general ledger account. Select N/A if an invoice register type is not required for the general ledger account. By default, N/A is displayed.

Tax code

Select a tax code for the general ledger account.

BWA-class

Select the type of expense account for the general ledger account. Select No BWA-Class if an expense account is not required for the general ledger account. By default, No BWA-Class is displayed.

Presentation

Select how you want the chart of accounts to be displayed. By default, Standard is displayed.

Non-ded. VAT

Type the tax amount for non-deductable tax for the general ledger account.

Non-ded. VAT account

Select the tax account for non-deductable tax for the general ledger account.

VAT return type

Select the type of tax return for the general ledger account. Select N/A if a tax return is not required for the general ledger account. By default, N/A is displayed.

Reward type

Select the tax category for the general ledger account. Select N/A if a tax card is not required for the general ledger account. By default, N/A is displayed.

Period closing

Type or select a journal account for the period closing of the general ledger account.

Categories section

Select a subcategory for each category. You can have up to 10 categories displayed depending on active categories at Financial à Setup à Master data à Categories. For more information, see Modifying general account category.

Free fields section

This section allows you to define additional information such as free fields for the general ledger account. You can fill in additional information of the general ledger in the free fields defined. The descriptions of free fields can be changed according to your needs.

Note: This section is available only if you have selected the General ledger check box at System à Setup à Central Master Data Management à Settings.