Creating and modifying corporate general ledger accounts

Save

Click this to save the created or modified general ledger account information.

Save + New

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

Close

Click this to exit.

The buttons below are available only if you are modifying the general ledger account.

Delete

Click this to delete the selected general ledger account.

Recode

Click this to modify the number of the selected general ledger account. 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 merge the general ledger account’s information with another general ledger account. 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

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 enter 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. 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.

Note: This Debit or Credit function is currently not available in Exact Synergy Enterprise.

Subtype / XRate type

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

At XRate type, select one of the following to determine the type of exchange rate you wish to define for the general ledger account:

• Closing – Select this when you create the balance sheet general ledger accounts.

• Average – Select this when you create the profit & loss general ledger accounts.

• Historical – Select this when the exchange rate is applied during the processing of the financial entries.

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).

Categories section

Under this section, you can create 10 categories for the general ledger account. These categories are used for reporting purposes. For more information, see Overview of general ledger account categories.