Account Maintenance

Menu Path: General Ledger $Images\bluerarw.gif$ Accounts $Images\bluerarw.gif$ Account Maintenance

Purpose

Set up and maintain general ledger accounts.
Indicate the consolidation account if you are running general ledger consolidation across system ID's.

Overview

Use Account Maintenance to create, edit, and delete general ledger accounts. To work with an account, you must set it up in Account Maintenance. Unless validation is not required, all accounts must be made up of valid element values that are defined in Account Element Maintenance. Validation is set up for elements in Ledger Maintenance.

You can also import accounts in General Ledger Account Import.

Selecting a Manual Posting Option

You must select a manual posting option when creating or updating an account. You can decide who will be allowed to post journal entries against the current account, and who will not. You can indicate that all users are allowed to post, not allowed to post, or should be warned about posting. You can also indicate one of these options for a single user or user group. You must enter an ID for the single user or user group.

Adding or Updating General Ledger Accounts

To add a new account:

If your company uses consolidation ledgers, verify the ledger ID for which you want to create an account is entered in the Ledger ID field.
Click the New button in the ribbon.
Enter a valid account number in the G/L Account number field. You can type the account number or create the number by selecting from the defined element values using the G/L Elements button.
Enter a description of the account in the Description field.
Click the Lookup button for the Type field, and select an account type.
Click the Lookup button for the Category field, and select an account category.
Select whether the account is primarily used for credits or debits during journal entry.
Select whether users are allowed to manually post to the account. If you select Yes, select whether all users, a single user, or a user group are allowed to post.
If you want to enter information for bank user-defined fields, click the Bank User Fields tab, and enter the appropriate information.
If you selected Cash in step 6, and you will be performing positive pay processing or direct deposit/debit processing, click the Bank Information tab, and enter the bank account information. For more information, see Positive Pay Processing and Direct Deposit Payment Processing.
If you want to set up the account for tracking profitability, click the Profitability tab, and select profit categories and subcategories for the account.
If you want to enter information for VAT, click the VAT tab, and enter the appropriate information.
Click the OK button in the ribbon. The account is created.

To update an existing account:

If your company uses consolidation ledgers, verify the ledger ID for which you want to update an account is entered in the Ledger ID field.
Enter a valid account number in the G/L Account number field.
Click the Update button in the ribbon.
Update the account information.
Click the OK button in the ribbon. The account is updated.

Note If you set up account element validation in Ledger Maintenance, you may want to verify that all the elements of the account numbers have been previously defined as valid account element values in Account Element Maintenance before adding accounts. You can do this easily using the G/L Elements button. If you enter an invalid value and validation is required, the software will not allow the account to be created.

Deleting Accounts

To delete an account:

If your company uses consolidation ledgers, verify the ledger ID for which you want to delete an account is entered in the Ledger ID field.
Enter a valid account number in the G/L Account number field.
Click the Delete button in the ribbon. The Confirm Delete dialog box appears (or for a summary account associated with other accounts, the Question dialog box appears).
Click the Yes button. The account is deleted.

Note The individual element values remain valid unless deleted in Account Element Maintenance. An account cannot be deleted if there have been any journal entries made against the account in the current year.

Working with Statistical Accounts

A statistical account holds an account balance like any other general ledger account. The only difference is that a statistical account is not necessarily measured in currency. Instead, a statistical account is measured in a user-defined unit of measure, such as lbs., hours, or even a head count. For example, a statistical account can be used to record the number of drums shipped per day, gallons received per week, or employees in each department.

When you add a statistical account to the general ledger, you must define it as being of type ST. When you do so, the Statistical U/M field appears, in which you can enter the unit of measure for the statistical account.

Note Statistical accounts can be extremely useful if you work with standard rates and budgets, use variable allocation accounts to allocate costs based on non-currency items, or create financial reports to calculate figures such as earnings per share.

Ribbon Home Tab Buttons

Button	Description
Exit	Click this button to close the Account Maintenance window.
OK	Click this button to save the account. This button is only available after you click the New or Update button in the ribbon.
Cancel	Click this button to cancel changes to or creation of the account. This button is only available after you click the New or Update button in the ribbon.
New	Click this button to create a new account.
Update	Click this button to update a selected account.
Delete	Click this button to delete a selected account. Note You cannot delete an account with activity for the current year. You cannot delete an account if it is used in a customer allowance rule. If you attempt to delete a summary account that is associated with other accounts, the Question dialog box appears and asks you to confirm that you want to delete the summary account.
First	Click this button to display the first account.
Prev	Click this button to display the previous account.
Next	Click this button to display the next account.
Last	Click this button to display the last account.

Fields and Buttons

Field or Button	Description
G/L Account	Enter the general ledger account number, or click the Lookup button to select the account number. The format of the account number is set up in Ledger Maintenance.
G/L Elements	Click this button to display G/L Prompting, which allows you to enter a general ledger account by element.
Ledger ID	Enter a ledger ID for which you want to set up or maintain a general ledger account, or click the Lookup button to select a ledger ID. Note This field is only available if at least one consolidation ledger is set up.

Main Tab Fields and Buttons

Field or Button	Description
Description	Enter a description of the general ledger account. The description is displayed in the software and on reports.
Type	Click the Lookup button to select one of the following account types: AS - Asset account EQ - Equity account EX - Expense account FA - Fixed Allocation account. For information on setting up fixed allocation accounts, see Fixed Allocation Account Maintenance. IC - Income account LI - Liability account SM - Summary account (for reporting use only). For information on setting up summary accounts, see Summary Account Maintenance. ST - Statistical account VA - Variable Allocation account. For information on setting up variable allocation accounts, see Variable Allocation Account Maintenance.
Active	Select this check box if the general ledger account is active. You can mark an account as inactive to prevent it from being used while retaining all existing data for the account. If an account is inactive, and you want to delete all data for the account, you can instead delete the account. Note You cannot clear this check box for a general ledger account that is set up as a default account in System General Ledger Account Maintenance.
Statistical U/M	Enter a statistical unit of measure. This field is only available if you select ST in the Type field.
Detail Description	Enter a detailed description of the general ledger account.
Category	Enter a category to define the type of general ledger account in more detail, or click the Lookup button to select a category. Categories are used for ratio reports, and for defining valid accounts for certain processing. This field defaults to the default category entered in Account Element Maintenance for the account type element in the account you are creating. Example A cash account in accounts receivable or accounts payable must have be assigned the Cash category.
Include in Cash Flow Beginning Cash	Select this check box to include the account in the Beginning Cash cash flow category. The Beginning Cash cash flow category is set up by default. Note The Beginning Cash cash flow category can be renamed in Cash Flow Category Maintenance. It is the only category for which the Beginning Cash check box is selected in Cash Flow Category Maintenance. You may want to clear this check box for short-term investments that include cash you cannot access at any time. This check box is only available for Cash general ledger account category accounts.
Consolidation Group	Enter a consolidation group in which to include the account, or click the Lookup button to select a consolidation group. For information on setting up consolidation groups, see Consolidation Group Maintenance.
Default to	Select how the data for the current account should be reflected. Select one of the following options: Credit - When making a journal entry for this account in Journal Entry, the cursor automatically goes to the CR Amount field. Debit - When making a journal entry for this account in Journal Entry, the cursor automatically goes to the DR Amount field. If you select Debit, a credit balance appears as a negative value on reports. If you select Credit, a debit balance appears as a negative value on reports.
Allow General Ledger Manual Posting	Select whether users can post journal entries against the account. You can select to allow users to post, to not allow users to post, or to display a warning message when users attempt to post a journal entry. Select whether all users are allowed, or a single user or user group is allowed to post journal entries for the account.
ID	Enter the user ID or group allowed to manually post to the account, or click the Lookup button to select the user ID or group. This field is only available if you select the Single User or User Group radio button.
Account Currency	Enter the currency for the general ledger account, or click the Lookup button to select a currency. This defaults to the currency for the selected ledger ID. You can only change the currency for consolidation ledger accounts or for functional ledger accounts without existing unvoided transactions in the following categories: A/P Other A/R Other Cash Other Assets Other Liabilities For information on setting up currencies, see Currency Maintenance.
Capital Project #	Enter a project number associated with the general ledger account. This project number can be used for reporting on capital expenses. This is not the same as individual project numbers on a journal entry, by journal entry basis, which can be associated with an account.
Use historic rate	Select this check box to use the historic exchange rate for the account. This check box is cleared by default, and only available if the account currency entered in the Account Currency field is not the same as the currency for the ledger. Note If you select this check box, the account is not automatically revalued when revaluation is performed in Foreign Currency Revaluation, and manual journal entries must be created for revaluation.
Other Tracking #	Enter a number to assign to the general ledger account. This number can be used for reporting.
Currency Gain/Loss Type	Select one of the following to indicate which other account to use when revaluing the account: Realized Unrealized These radio buttons are only available if the account currency entered in the Account Currency field is not the same as the currency for the ledger, and if the Use historic rate check box is cleared.
Require Project #	Select this check box if journal entries made for the account require a valid project number.
Automatically reverse forex entries	Select this check box if you want the system to automatically create reversing entries for currency exchange gain/loss journal entries for the account. This field is only available if the account currency entered in the Account Currency field is not the same as the currency for the ledger, and if the Use historic rate check box is cleared.

Bank User Fields Tab Fields and Buttons

Note This tab is only enabled for cash category accounts.

Field or Button	Description
Bank User Defined 1-20	Enter the appropriate information in these bank-related user-defined fields. The label names and validations for these fields are set up in User Defined Fields Maintenance.

Bank Information Tab Fields and Buttons

Note This tab is only enabled for cash category accounts.

Field or Button	Description
Bank Account Number	Enter the unique bank account number associated with the cash account.
Bank Account Name	Enter the bank account name for the cash account.
IBAN	Enter the International Bank Account Number (IBAN) for the cash account.
Bank Code	Enter a valid bank code for the cash account, or click the Lookup button to select a bank code. For information on setting up bank codes, see Bank Code Maintenance.
ABA Routing Number	Enter the bank ABA routing number for the account.
Minimum Account Balance	Enter the minimum account balance for the cash account. If the account balance is below this amount, the balance is highlighted on the Results tab in Cash Flow Management Analysis when performing cash flow analysis for the account. Leave 0 in this field to indicate there is no minimum account balance for the account.
Maximum Account Balance	Enter the maximum account balance for the cash account. If the account balance is above this amount, the balance is highlighted on the Results tab in Cash Flow Management Analysis when performing cash flow analysis for the account. Leave 0 in this field to indicate there is no maximum account balance for the account.

Profitability Tab Fields and Buttons

Note You should usually only associate income and expense accounts with profit categories and subcategories.

Field or Button	Description
Profit Category Code (Customer)	Enter a customer scorecard profit category code for the general ledger account, or click the Lookup button to select a customer scorecard profit category code. For information on setting up scorecard profit categories, see Scorecard Profit Category Maintenance.
Profit Subcategory Code (Customer)	Enter a customer scorecard profit subcategory code for the general ledger account, or click the Lookup button to select a customer scorecard profit subcategory code. For information on setting up scorecard profit subcategories, see Scorecard Profit Category Maintenance.
Profit Category Code (Supplier)	Enter a supplier scorecard profit category code for the general ledger account, or click the Lookup button to select a supplier scorecard profit category code. For information on setting up scorecard profit categories, see Scorecard Profit Category Maintenance.
Profit Subcategory Code (Supplier)	Enter a supplier scorecard profit subcategory code for the general ledger account, or click the Lookup button to select a supplier scorecard profit subcategory code. For information on setting up scorecard profit subcategories, see Scorecard Profit Category Maintenance.
Profit Category Code (Product)	Enter a product scorecard profit category code for the general ledger account, or click the Lookup button to select a product scorecard profit category code. For information on setting up scorecard profit categories, see Scorecard Profit Category Maintenance.
Profit Subcategory Code (Product)	Enter a product scorecard profit subcategory code for the general ledger account, or click the Lookup button to select a product scorecard profit subcategory code. For information on setting up scorecard profit subcategories, see Scorecard Profit Category Maintenance.

VAT Tab Fields and Buttons

Note This tab is only available if Show is selected for the VAT Display Level field in Tax Control Maintenance.

Field or Button	Description
Default Output VAT Account	Enter the default output VAT account to use for accounts receivable transactions for the account, or click the Lookup button to select the account. This field is only enabled for A/R Discount, A/R Trade, and A/R Write-Off category accounts. Note This overrides the default output VAT account set up in Tax Control Maintenance.
Account Description (Default Output VAT)	Enter the default output VAT account description to use for accounts receivable transactions for the account, or click the Lookup button to select the account description. This field is only enabled for A/R Discount, A/R Trade, and A/R Write-Off category accounts. Note This overrides the default output VAT account set up in Tax Control Maintenance.
Default A/P VAT Account	Enter the default general ledger VAT account to use when entering a voucher for the account, or click the Lookup button to select the general ledger account number. This account is used when automatically entering VAT entry lines for accounts payable vouchers. This field is only enabled for A/P Trade category accounts. Note This overrides the default accounts payable VAT account set up in Tax Control Maintenance.
Account Description (Default Accounts Payable VAT)	Enter the default general ledger VAT account description to use when entering a voucher for the account, or click the Lookup button to select the general ledger account description. This account is used when automatically entering VAT entry lines for accounts payable vouchers. This field is only enabled for A/P Trade category accounts. Note This overrides the default accounts payable VAT account set up in Tax Control Maintenance.
Default A/P Country	Enter the default country to use for voucher entry for the account, or click the Lookup button to select a country. This field is only enabled for A/P Trade category accounts. Note This overrides the default country set up in Tax Control Maintenance.
Default A/P VAT Class Code	Enter the default VAT class to use for accounts payable transactions for the account, or click the Lookup button to select a VAT class. For information on setting up VAT classes, see VAT Class Maintenance. This field is only enabled for A/P Trade category accounts. Note This overrides the default VAT class set up in Tax Control Maintenance.
Default A/P VAT Rate	This field displays the default VAT rate for accounts payable transactions for the account, which is based on the VAT class entered in the Default A/P VAT Class Code field. This rate is used when automatically entering VAT entry lines for accounts payable vouchers and to calculate the default VAT amount for vouchers payable against a single general ledger account. Note This overrides the default VAT rate for a VAT class set up in Tax Control Maintenance.
Default A/P VAT Exempt Reason Code	Enter the default VAT exempt reason to use for accounts payable vouchers for the account that are exempt from VAT, or click the Lookup button to select a VAT exempt reason. For information on setting up VAT exempt reason codes, see VAT Exempt Reason Maintenance. This field is only enabled for A/P Trade category accounts. Note This overrides the default reason set up in Tax Control Maintenance.
Use VAT Status	Select this check box to allow users to specify VAT status codes when using the account for voucher entry. This field is only enabled for A/P Trade category accounts. Note This overrides the default setting in Tax Control Maintenance.