AM-C  Enter General Ledger Accounts

Purpose of Program

When you are first setting up your chart of accounts, this is where you will create each account.  You can use the chart of accounts provided as the basis for your company's account assignments or you may wish to use your existing chart of accounts.

You can also use this screen to enter budget amounts on existing accounts.  Budget amounts can be compared with actual amounts when running financial statements.

Field Explanations

Acct Code

The GL account code.  This field specifies which General Ledger account you wish to modify or create.  You can click on the Lookup icon (or press F2) to select from existing accounts.  You can also include a department code.  See the discussion of department codes in AM-D  Enter General Ledger Departments.

Description

Enter a title for this GL account.  This is a 25 character alphanumeric field.

Type

Account types include:

A-  Asset

L-  Liability

O-  Owner's Equity

I-  Income

E-  Expense

Non-Cash

This category applies only if you have assigned E (expense) as the account type.  This field is used for a cash flow statement under GL-F  Print Financial Statements when non-cash expense amounts are added back to net income.  Enter a Y for any non-cash account.

Non-cash expense amounts are those that do not have cash or a check paid for them, such as a depreciation expense.  In contrast, payroll expenses, for example, do use a check for expenses, and would be marked N here.

Inactive

If an account is designated Inactive then historical data will be retained but GL-O will prohibit posting to it.

Budget

These are the monthly budget amounts that you can use to compare with actual results in GL-A  View Chart of Accounts and on financial statements.  These are the monthly amounts that you have entered to compare against the current amounts as they are posted.

General Program Operation

The main purpose of this program is to create new accounts or to modify descriptions or elements of an existing account.  For a new account, type in your account code, description, account type, and non-cash setting (if an expense account).  You can optionally enter budget amounts.

When you are finished entering the fields you want, save the record by clicking on the Save button (or press F10).

Deleting a GL Account

To delete an account, bring the account up on the screen.  From any field click on the Delete button (or press F4).  If there are any transactions in the account, you will be prompted for the GL account to move those transactions to before the account can be deleted.