This is an overview of the window.
1. Checking Accounts
You can have more than one checking account on the system, but only one can be the default account.
- GL Acnt Code: The GL Account Code for the Checking Account. This is set up in the Chart of Accounts.
- Name: The GL Account Name for the Checking Account. This is set up in the Chart of Accounts.
- Last Check Number Used: The most recent check number consumed by the Print Checks function in the Accounts Payable Module.
- Default Checking Account (Dft): You can only have one Default Checking Account. The default is the one with the checked box in this column.
2. GL Account Range
All GL Account Ranges must be 5-digit numbers. You cannot change any of the Account Ranges if an account has already been entered on the system. These are usually set up during Implementation.
- Type: Type of account: A (asset), E (expense), I (income), L (liability), or N (net worth).
- From: The first number in the GL Account Range.
- To: The last number in the GL Account Range.
3. Default GL Accounts
- Retained Earnings: The GL Account Code designated for Retained Earnings. This is set up during Implementation.
- AP Discount: The GL Account Code that tracks AP Discounts received from Vendors when the Disbursement is posted.
- AR Discount: The GL Account Code that tracks AR Discounts taken by Clients when the Receipt is posted.
- Sales Tax Account: The GL Account Code where Sales Tax is charged to when a Sales Order is posted.
- Invoice Discount Account: The GL Account Code that tracks Invoice Level Discounts (i.e. Promotions) when the Sales Order is posted.
- Client Deposit Account: The GL Account Code that will be charged when a Client Deposit (i.e. Receipt) is posted.
- Default COGS Account: The GL Account that Cost of Goods Sold will be charged to when a Sales Order is posted.