General Ledger Codes Setup

1. General Ledger Chart of Accounts
1. From the ribbon, left-click Financials, left-click Administration, select GL Codes and left-click View/Build Tree.
   
   
2. The GL Codes Hierarchy window will appear and a default chart of accounts will appear.
   
   
3. Within the GL Codes Hierarchy window, there exists a Legend that identifies the various icons that exist for each like of the chart of accounts.
   
   
1. Main GL Code Category – There are 9 GL code categories which are somewhat flexible to meet the needs of your organization, with the following conditions:
1. Categories 1, 2, and 3 should remain as Assets, Liabilities, and Capital (respectively).  These GL code categories do not reset their ending balances at the beginning of the following fiscal year.
2. Category 4 should remain as Revenues.  This GL category will reset the ending balance to ZERO at the beginning of each fiscal year.
3. Categories 5 thru 9 also reset their ending balances to ZERO at the beginning of each fiscal year, however, these GL categories may be adjusted as necessary, provided that retained earnings may be properly calculated.
4. Retained earnings will be calculated as follows:
1. Last Year’s Retained Earnings
2. PLUS Year End Balance for Category 4 (Revenues)
3. MINUS Sum of Year End Balances for Categories 5 thru 9
2. GL Code General – This type of GL code allows GL codes to be grouped and categorized.  Amounts are not credited or debited to general GL codes, only to the detail GL codes within the general GL code.
   
   NOTE: Detail GL codes within a general GL code will always begin with the general GL code as a prefix.
3. GL Code Detail – This type of GL code is the lowest level code and amounts are debited and credited to these codes.
4. Non Active GL Code – This type of GL code is also categorized as GL Code Detail but has been marked as inactive within the GL code settings.
4. When a GL code category is expanded, the list of GL codes within that category will appear.
   
   
1. General GL codes will appear with the GL code and name
2. Detail GL codes will appear with more information (in the following order):
1. GL code – This number will be used in creating journal entries and setting up GL accounts.
2. GL name – Will appear in brackets.
3. Active = (Yes/No) – Identifies whether the code is active or not.
4. Do not allow to pick in J/E = (Yes/No) – Identifies whether the code is restricted from being used in manual journal entries.
5. GL Code Matching required = (Yes/No) – Identifies whether transaction matching is performed on the code.
   
   NOTE: The GL Code Transaction Matching process is covered in a separate procedure manual.
5. When a line of the chart of accounts is selected, right-click on the GL code or code category to open a menu.
   
   
1. Search… option – Left-click to open the GL Code search window.
   
   
2. Expand All option – Left-click to expand the entire hierarchy.
3. Collapse All option – Left-click to collapse the entire hierarchy.
4. Add GL Code General… option (Inactive when a detail GL code is selected) – Left-click to add a new general GL code.
1. The New GL Code General window will appear.
   
   
1. Code field – Enter the GL code that will identify the grouping or classification of detail GL codes within this general GL code.
   
   NOTE: All detail GL codes within the general GL code must begin with the general GL code as a prefix.
2. Name field – Enter the GL code name that will identify the grouping or classification of detail GL codes within this general GL code.
2. Left-click the OK button on the New GL Code General window toolbar to save the record and close the window.
5. Add GL Code Detail… option (Inactive when a detail GL code is selected) – Left-click to add a new detail GL code.
1. The New GL Code Detail window will appear.
1. Code field – Enter the GL code.
   
   NOTE: GL codes must inherit the prefix of its parent GL code.
2. Name field – Enter the GL code name
3. Active flag – Mark this flag as “checked” if the GL code is active.
4. Do not allow picking in Journal Entry and anywhere else in the system flag – Mark as “checked” if the GL code should not be allowed to be picked from a list of GL codes when creating journal entries, setting defaults or setting up GL accounts.
5. GL Code Matching Required flag – Mark as “checked” if transaction matching must be performed on the GL code.
   
   NOTE: The GL Code Transaction Matching process is covered in a separate procedure manual.
2. Left-click the OK button on the New GL Code Detail window toolbar to save the record and close the window.
6. Edit GL Code… option – Left-click to modify the details of the GL Code
   
   NOTE: GL code numbers cannot be modified once they have been saved.
7. Delete GL Code… option (Inactive when a GL code category is selected) – Left-click to delete the GL code.
   
   NOTE: GL codes cannot be deleted if any of the following is true:
   
   - A general GL code has detail GL codes.
   - A detail GL code has been used in any transaction within the system.
8. List Groups Assigned to option (active only when a detail GL code is selected) – Left-click to view the financial groups to which the GL code is assigned.
   
   NOTE: Financial groups are used in financial reporting and are discussed in a separate procedure manual.
   
   
9. Add Code to Groups option (active only when a detail GL code is selected) – Left-click to add the GL code to existing financial groups.
   
   NOTE: Financial groups are used in financial reporting and are discussed in a separate procedure manual.
   
   
10. Remove Code from Groups option (active only when a detail GL code is selected) – Left-click to remove the GL code from existing financial groups.
    
    NOTE: Financial groups are used in financial reporting and are discussed in a separate procedure manual.
    
    
2. Budget Plan/Beginning Balance
1. From the ribbon, left-click Financials, left-click Administration, select GL Codes and left-click Budget Plan/Begin Balance.
   
   
2. The GL Code List search window will appear.
   
   
3. Select the GL code that you would like to set budgets/beginning balance (left-click the line within the search screen and left-click OK; or double-click the line within the search screen).
4.  The Budget List/Detail search window will appear.
   
   
1. If a budget exists for the correct company, division and department, select the budget (left-click the line within the search screen and left-click OK; or double-click the line within the search screen).
2. If a budget does not exist for the correct company, division and department, left-click the Add button.
5. The Budget Plan window will appear.
   
   
1. Company field – Identify the company for which the budget applies.
2. Division field – Identify the division for which the budget applies.
3. Department field – Identify the department for which the budget applies.
4. Cost Accounting group box – The fields within this group module enables the collection of data in order to evaluate efficiency and capability and they are applicable only if the Cost Accounting Module is licensed.
5. Tax Code field – [Ignore] This field is applicable only to the Cost Accounting Module.
6. Memo field – Enter any information relevant to the GL code in the memo editor.
7. Status field – Displays either “Active” or “Not Active”
8. Base group box – The value displayed in this group box will appear on financial statements as the beginning balance if the effective date (in the Date field) is within the date range of the financial statement.
1. Open Debit field – Displays the beginning debit balance of the GL code in terms of the system base currency.
2. Open Credit field – Displays the beginning credit balance of the GL code in terms of the system base currency.
3. Update Base Values button – Left-click to convert the beginning balance from the Conv group box into the system base currency value (using the exchange rate identified in the Rate field)
9. Conv group box
1. Open Debit field – Displays the beginning debit balance of the GL code in terms of the currency in which the GL code is tracked.
2. Open Credit field – Displays the beginning credit balance of the GL code in terms of the currency in which the GL code is tracked.
3. Currency field – Select the currency in which the GL code is tracked.
4. Date field – Identify the date related to the beginning balance.

5. Rate field – Identify the exchange rate related to the converted currency (in terms of the base currency) for the date of the beginning balance.

10. Budget grid

1. Period column – Displays the period numbers (as setup in the Accounting Setup window).

2. From column – Displays the start date of the period (as setup in the Accounting Setup window).

3. To column – Displays the end date of the period (as setup in the Accounting Setup window).

4. Budget column – Enter the period budget values for the GL code.

5. Forecast column – Enter the period forecast values for the GL code.

6. Actual column – Displays the period actual values for the current fiscal year.

7. Last Year column – Displays the period actual values for the previous year.

8. -2 column – Displays the period actual values for two fiscal years ago.

9. -3 column – Displays the period actual values for three fiscal years ago.