You are here: Main Menu > 7. Ledger Menu > 2. Account

Account

The account table contains all accounts that comprise the chart of accounts for an organization. Accounts are used in combination with cost centers on all transactions that post to the general ledger; they are also used in the financial reports that provide you with an overall review of the financial condition of the company.

Available Actions

Using

Adding

Changing

Deleting

Printing

Importing

Account Fields

Account Number	Each account number must be unique and correspond with the coding scheme below: 1000-1099 Checking or Cash Accounts 1100-1399 Current Assets 1400-1699 Fixed Assets 1700-1999 Other Assets 2000-2399 Current Liabilities 2400-2899 Other Liabilities 2980-2989 Retained Earnings 2990-2999 YTD Net Income 3000-3999 Revenues 4000-4999 Cost of Goods Sold 5000-5999 Labor Expenses 6000-7999 Operating Expenses 8000-8999 Other Income 9000-9999 Other Expenses
Cost Center	A six-character alphanumeric code is used to identify a general ledger sub-account. Users must assign a cost center to account numbers that begin with 10 (Checking or Cash Accounts).
Old ID	This prompt will appear if the Old Conversion Mode setting in System Options is set to Y (Y=yes). Enter the account number from your existing system here to convert it from your chart of accounts.
Account Name	The name of the account is required within the chart of accounts.
Account Status	Account status determines whether the account displays on the account list as an account which can be used in accounting transactions. A = active, I = inactive.
Batch Post	Batch Post allows users to choose whether the account will post to the general ledger in summary (Y) or in detail (N). Posting in summary batches all similar transaction types by day at the time of posting and creates a batch total. The batch total is posted to the general ledger with the details supporting the batch. Details of the batch post can be found in the Transactions by Journal List. Usually only accounts receivable (AR) and accounts payable (AP) accounts are batched posted since the details of these accounts can be readily found in the various receivables and payables reports.
Cash or Checking Account Type Only	Account numbers starting with 10 are either a cash account or a checking account. Last Check Number Used – If the account is defined as a checking account you will be asked to enter the last check number used for the account. Use in Purchasing – Set this field to Y (Y=yes) to use this account to make payments or advances to vendors in Purchasing.
Income Statement Section	Select the location where expense or revenue accounts are to be placed within the income statement on the Weekly Profit Projections and Budget-to-Actual Comparison reports. S – Sales Revenue C – Cost of Goods Sold P – Plant Expenses X – Selling Expenses Y – Other Sales Expenses G – General and Administrative (GA) O – Other Expenses
Use in Purchasing	Users can select whether a cash or checking account is to be used for purchases from the Purchasing menu.
Accrual Recovery	An account may be used to associate an expense while entering a voucher in Voucher or an AR Adjustments to a customer or Cost Adjustment.

Security Required : Ledger - Accounts