Description

Use this page to manage Ledger Accounts for all entities:

  • Show Inactive - if you have deactivated a Ledger Account (see below), setting this toggle to true will show deactivated Ledger Accounts in the table list.

Create/Edit Ledger Account

Enter all required fields and click submit. You can also click the down arrow next to the submit button and click 'Submit and New' to open a new blank Ledger Account to complete.

  • Number - Unique account number
  • Name - Short name of the account (name and number combination is used throughout the product to refer to this account)
  • Description - Extra account information.
  • Type - Account Type (See reference below)
  • Sub-Type - Account Sub-Type (See reference below)
  • Natural Balance - Account natural balance
  • Location - Root Entity this account is associated with (Please note, unless you need to create different charts of accounts per entity, the location dropdown can be set to Global)
  • Include Child Locations - Push this account down to all children of the selected Location. On - Allow posting journal entries for this Ledger Account to this account's Location's children. Off - Only allow posting journal entries for this Ledger Account to this account's Location. For more information see here
  • Revalue Forex Rates - Set On for any accounts that will be need to revalued for foreign currency gains and losses at month end.
  • Inactive - Toggle this On if you would like to deprecate an account, but keep Off if you want this account to be available

Account Type Hierarchy

The following hierarchy is used for Ledger Account types and sub-types. The top level are Balance Sheet and Income Statement accounts. This is important as balances for Balance Sheet accounts in reports will show the running total from beginning of time, vs. Income Statement which are Month to Date. When creating a Ledger Account you can create a new sub-type by typing and submitting the account with the new sub-type.


Account List Actions

  • Edit -  Update accounts fields
  • Create Duplicate -  Create a new account with this account as a starting point
  • Delete -  Delete this account, could fail if another object is using this.
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