Define GL Accounts

General ledger accounts Accounts are used to group financial transactions. Accounts show increases, decreases, and an ending balance that provide a means for creating financial statements. are used to group financial transactions. Accounts show increases, decreases, and an ending balance that provide a means for creating financial statements.

Note: You generate financial statements from your accounting solution.

Each transaction must have an account assigned to it. Each account has a unique number structure consisting of at least an account code. Accounts can also have other account segments to help categorize transactions for creating statements.

Note: If your organization uses multiple general ledger account systems, you must define general ledger accounts for each system.

The program only generates GL distributions for accounts that follow your structure. This ensures that any distribution that the software creates can be posted to your general ledger.

When you add an account alias, you associate the account number in the system with the account number in your external general ledger. If you choose to use an account alias, the system uses the account alias in place of the account number in the following areas: pre-post reports, post reports, exception reports, post files for download. The account alias is used in these areas to ensure accuracy when you import data into your external general ledger.

You can create general ledger accounts from the GL Accounts page. You only need to add accounts that will be used in general ledger mapping. To access the GL Accounts page, select Define GL Accounts on the General ledger setup page of an account system.