The Manage Chart of Accounts window allows you to create postable and non-postable (layout) GL accounts.
What you'll find:
Only postable accounts can be posted to and carry a balance.
If you’re adding a Revenue (4), COGS (5), or Expense (6, 7, 8, 9) account, you can attach it to a project and/or a location so that manual journal entries can be identified by default as belonging to a specific project, location, or both.
To add a postable GL account
* indicates a required field
Navigate to General Ledger > Manage > Chart of Accounts.
The Manage Chart of Accounts window opens.
Click Add.
The Add GL Account window opens.
Tip
If you’re unsure about GL account numbers currently in use, click View List to search and display existing accounts by Account Code, Account Description, Account Type, or Active status.
In the Account Number* box, enter the GL account number, beginning with the correct account number prefix.
The corresponding account type name appears next to the account number.
Maximum number of digits is 15.
Ensure the Active? check box is selected.
Active is selected by default.
Tip
To prevent postings to this account, clear the Active? check box to deactivate the account.
In the Account Description* box, enter a unique description for the account beginning with a letter.
You cannot begin the description with a number. Numbers can be included in the description as long as the description starts with a letter. The account description appears in all related reports and inquiries.
Account Type tab
Ensure the Postable? radio button is selected.
Postable is selected by default.
Select the Subtotaled? check box if you want to include account subtotals in reports.
Select the Print If Zero Balance? check box if you want to display the account in reports when its balance is zero.
Note
If you’ve created a postable Asset (1), Liability (2), or Equity (3) account, you can optionally designate that the account be reconciled. A reconciled account makes the account available to the bank reconciliation process.
An Inventory account makes the account available only to inventory processes and products.
Select Reconcile this account for postable Asset (1), Liability (2), or Equity (3) accounts if you'll want to reconcile it.
(bank accounts are obvious candidates, but you may also want to reconcile credit card accounts [VISA, MasterCard], FCC accounts, etc.)
(optional) From the Restricted To dropdown, select the security role whose users will have permission to reconcile this GL account.
Otherwise all users with reconciliation permission will be able to reconcile this GL account.
Check Special Account (if this is one) and indicate its type:
Accounts Receivable, Accounts Payable, Inventory Asset, Fixed Asset, Current Earnings, Retained Earnings, Grain Payable
Foreign Currency tab
* if Foreign Currency is checked, these fields become mandatory
Check Foreign Currency and indicate the foreign currency.
Select the Exchange Account* (which is in home currency) to use with this foreign currency account.
This is where the difference between home currency values and foreign currency values - as calculated using the current exchange rate - will be posted.
In the Notes box, enter any notes or comments regarding the account (maximum 300 characters).
Notes
If you've created a postable Asset (1), Liability (2), or Equity (3) account and checked Reconcile this account on the Account Type tab, additional fields for banking details are available.
If you’ve created a postable Revenue (4), COGS (5), or Expense (6-9) account, you can optionally associate it with a default Project, Location, or both.
(config C) Enter GL Mapping for this account.
GL Mapping is used most often when integrating external software with your agrē database.
For reconcilable asset, liability, and equity accounts only: (those that start with a 1, 2, or 3, AND are flagged as reconcilable)
Optionally enter the Bank Transit Number, Bank Institution Number, Bank Account Number, and DCS ID Number (most often used when agrē communicates with external systems).
For reconcilable revenue, COGS, and expense accounts only: (those that start with a 4, 5, 6, 7, 8, or 9)
Optionally select a default Project.
When posting manual Journal Entries to this account, the Project field will fill in automatically with this one.
Click Add to create a new project.
Optionally override the Project Mandatory for JE (journal entries) default company config option for just this GL account.
Optionally select a default Location.
When posting manual Journal Entries to this account, the Location field will fill in automatically with this one.
Click Save.
The account is displayed in the Manage Chart of Accounts window.
agrē provides both default and custom options for the layout of your Balance Sheet and Income Statement reports.
By default, agrē automatically prints headings and totals for each account type. These defaults, as shown in Table 3.2, are built into agrē and do not appear in the Chart of Accounts.
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Table 3.2: Default Account Layout (non-postable) |
|
|
Account Type |
Headings and Totals |
|
Asset (1) |
Total Assets |
|
Liability (2) |
Total Liabilities |
|
Equity (3) |
Total Equity |
|
Revenue (4) |
Total Revenue |
|
Cost of Goods Sold (COGS) (5) |
Total Cost of Goods Sold |
|
Expense (6, 7, 8, 9) |
Total General & Administrative Expenses |
If you require additional layout options for your Income Statement and Balance Sheet reports, you can customize your financial statements with additional headings, totals, and subtotals by creating non-postable GL accounts.
Note
To avoid duplicate headings, it’s important that you select unique names for your headings and totals and that they do not duplicate the agrē defaults.
By selecting a particular layout type for your non-postable GL account, you can customize the layout of your reports. The existing layout types are as follows:
Heading
Total
Subtotal (added into a Total account)
To add a non-postable GL account
* indicates a required field
Navigate to General Ledger > Manage > Chart of Accounts.
The Manage Chart of Accounts window opens.
Click Add.
The Add GL Account window opens.
Tip
If you’re unsure about GL account numbers currently in use, click View List to search and display existing accounts by Account Code, Account Description, Account Type, or Active status.
In the Account Number* box, enter the GL account number, beginning with the correct account number prefix.
The corresponding account type name appears next to the account number.
Ensure the Active? check box is checked.
Active is checked by default.
In the Account Description* box, enter a unique description for the account beginning with a letter.
You cannot begin the description with a number. Numbers can be included in the description as long as the description starts with a letter.
The account description appears in all related reports and inquiries.
Account Type tab
Click the Other Account radio button.
Select Heading, Total, or Subtotal from the dropdown.
In the Layout Type box,
Tip
To prevent displaying this account on reports, clear the Active? check box to deactivate the account. See Deactivating GL Accounts.
Miscellaneous tab
In the Notes box, enter any notes or comments regarding the account (maximum 300 characters).
(optional) Enter GL Mapping for this account.
GL Mapping is often used when interfacing with software external to your agrē database.
In the Project box, enter the default project for postings to this account.
In the Project Mandatory for JE (journal entries) box, select if postings to this account require a project.
Optionally select a default Location.
When posting manual Journal Entries to this account, the Location field will fill in automatically with this one.
Click Save.
The account is displayed in the Manage Chart of Accounts window.