Setup: General Ledger Setup: General Ledger
This screen is accessed by selecting Accounting Options -> General Ledger on the setup menu. It can also be accessed by right-clicking on the GL Menu Icon.
General Ledger Account Structure
Enter the number of digits in the account number. Most Companies will have the Number of Digits in Segment 1 equal 5 and the other two segments equal zero. For example: to have the account number 10100-12-438, the Number of Digits in Segment 1 would be 5, the Number of Digits in Segment 2 would be 2 and the Number of Digits in Segment 3 would be 3.
Note: Once the General Ledger Account structure has been set up and G/L Master records exist, the number of digits may only be increased. Once a change has been made it is not reversible. For more information, see Changing the General Ledger Account Structure.
Number of Digits in Segment 1
Enter the Number of Digits in Segment 1, up to 10 digits are possible.
Number of Digits in Segment 2
Enter the Number of Digits in Segment 2, up to 10 digits are possible.
Number of Digits in Segment 3
Enter the Number of Digits in Segment 3, up to 10 digits are possible.
These are Retained Earnings, Current Earnings, and Missing Accounts. When a fiscal year is closed out, all accounts in the Operating Statement are adjusted so they have a zero balance, and the net profit is transferred to the Retained Earnings Account. If the system knows what the Retained Earnings Account is, this process can be automated by the system.
Note: Special Accounts must be assigned or when posting is attempted the following error message will occur "Failed Missing Accounts Test". If this message appears, return to this screen and make sure all three of the Special Accounts have accounts assigned.
Retained Earnings
This account is where earnings prior to the beginning of the current fiscal year are stored. Press the lookup button and the General Ledger Accounts screen comes into view. Highlight the desired account and press the Select button.
Current Earnings
The Current Earnings Account is used to hold the net profit during the year. The net profit is temporarily transferred from the Profit and Loss Statement to the Balance Sheet during financial statement printing so that no month end closing is required by the General Ledger system. This is very useful to have on the system. It is not an account to which charges should be made. Enter the account number or press the lookup button and the General Ledger Accounts screen comes into view. Highlight the desired account and press the Select button.
Missing Accounts
This account may be used during posting if default accounts have been improperly setup. Press the lookup button and the General Ledger Accounts screen comes into view. Highlight the desired account and press the Select button.
Allow multiple Financial Statements Designs (check box) (Preferred Edition Only)
The system will allow multiple Financial Statements to be designed if this box is checked.
Force Posting Date to Match Fiscal Period (check box)
If this box is checked, the system will test during posting to see if the Posting Date falls within the date range of the selected Fiscal Period. If it does not, the system will disallow the posting to continue.
Paper Trail Options (button)
Press the Paper Trail Options button to select paperless options for auditing. All postings will generate a PDF version of the posting report. These PDFs are available through Utilities / View Postings and Backups. The following screen will come into view when the button is pressed.
Traditional - Always Print Posting Reports
Select this option to use the Traditional setting of always printing the posting reports.
Paperless - Preview Posting Reports with the Option to Print
Select this option to use the Paperless setting with the option to print posting reports from the Report Preview screen.
Preview Final Sheet (Confirmation) with the Option to Print (check box)
If the Traditional setting is selected, this option will be available. Check this box to preview the Final Posting Sheet with the option to print it from the Report Preview screen.
Preview Printed Checks (check box)
Select this option to use the Paperless setting with regard to printing Accounts Payable and Payroll Checks. If this box is checked, checks will be previewed to the screen first, where the user will be responsible for making a physical printout of the checks.
Separate Report Previews for Posting Reports (check box)
When posting reports are generated, there are usualy multiple reports. For example, when Accounts Payable Invoices are posted, the system generates a "Payables Detailed Posting Report" and a "General Ledger Summary of Payables Posting." If this box is checked, these report previews will be generated separately, and the user must close the first previewed report in order to see the second one. If this box is not checked, the system will create one report preview with multiple pages.
Financial Overview Accounts (button)
See Financial Overview Accounts
Setup Account Reconciliation File Export (button)
See Account Reconciliation Setup.
Set Up Accounts (button)
Press the Set Up Accounts button and the General Ledger Accounts list comes into view. New accounts can then be entered or existing accounts edited.
Set Up Financial Statement (button)
Press the Set Up Financial Statement and the Design Financial Statements screen comes into view. Changes can then be made to the financial Statement design.
see also Departmentalized Financial Statements
Departmentalized Income Statement (check box),
This option makes it possible for the system to print separate income statements for each department.
Departmentalized Balance Sheet (check box),
This option makes it possible for the system to print separate balance sheets for each department.
Segment Containing Department number
Companies not using a departmental General Ledger should enter 0. If departmentalized statements are desired, enter the segment number (2 or 3) which represents the department designation.
Changing the General Ledger Account Structure
Once the General Ledger Account structure has been set up, the number of digits may be increased. Note: Once a change has been made it is not reversible. The only way to return to a smaller number of digits is to restore a backup from before changing the account structure.
After the total number of digits in the General Ledger Account numbers have been increased and the OK button pressed, the following message will come into view.
The No button is highlighted by default. If it is not desired to proceed, press the No button. To proceed, press the Yes button and the following screen will come into view
.
G/L Account Number Change
Add this Character
Specify the character(s) to assign to the G/L account. This must be a number. This character will be assigned to all accounts.
To the BEGINNING of the Account Number (radio button)
If this radio button is selected, the character specified in the previous field will be added to the beginning of all G/L account numbers.
To the END of the Account Number (radio button)
If this radio button is selected, the character(s) specified in the previous field will be added to the end of all G/L account numbers.
If the Proceed button is pressed, the data files will be updated to the new G/L Account structure. The following screen will come into view.
If the Continue button is pressed, all data files will be permanently changed to the new General Ledger Account structure. To cancel, press the Undo button and the General Ledger Account structure will remain the same.