G/L tab

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.
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.
Default GL Accounts