Module: General Ledger (11.12) [Chart of Accounts]
To add a new GL account, use General Ledger > Chart of Accounts > GL Elements.
Figure 1: GL Elements
Each GL Account Code is made up of several elements, to reflect the structure of your General Ledger.
These Elements can be legal subdivisions of a company, such as a division or business unit, or geographical locations, such as branches. They will vary greatly from one company to another, so refer to your company’s specific GL Configuration.
Set the selector at the bottom to the type of account element you want to define and press the filter.
Figure 2: GL Elements
Press Add.
Figure 3: Adding a Natural Account
Enter all the necessary fields.
Code: The code for the sector to which the transaction belongs.
Description: A description of the element.
Short: Short description of the element.
The account type (if this element is used to identify the account type).
For example:
A = Asset
C = Capital
L = Liability
E = Expenses
I = Income
Category: The cost category (or categories) of this element if the element is linked to cost categories.
Sub Levels: If this element is analyzed into further elements.
Conversion Type: The code for the type of currency conversion to be used during multi-base currency revaluation on accounts with this element.
Closed: If an element is closed, you can no longer use any accounts that use the element.
Manual Post: Whether this element allows manual posting.
Figure 4: GL Elements - Add
Enter all the required fields and click on Save.
2. To define these new elements as a valid account, go to
General Ledger > Chart of Accounts > Account Maintenance.
Figure 6: Account Maintenance - Add
3. Click Add.
Figure 7: Account Maintenance – Add Account
4. In the Main tab, type in the full account string, using all of the elements. The Description and Account Type will auto-populate.
5. The Cost Category field will determine what categories of job costs are allowed to post to this account. This can be a comma-separated list (for example: L,M,E will allow labor, material, or equipment costs to post to this account).
Note: If a comma is added to the end, a GL journal entry can be entered. Otherwise, it must be hit through a job cost entry
6. The Manual Post checkbox being checked will allow users to post directly to this account.
Normally, you would disable manual posting for accounts that are updated automatically by other ledgers, like tax accounts, bank accounts or ledger control accounts.
Figure 7: Account Maintenance – Add Account
The Analysis tab, is analysis sets are set up. They are used for financial reporting. They can be set to auto fill based on the natural account.
Figure 7: Add Account - Analysis
2. Click Save to add the account.
Figure 8: Add Account – Natural Analysis
