Account Record

From General ledger, Accounts, use accounts to organize and track the financial activity recorded in General ledger and other feature areas, such as Payables. Each account record captures increases, decreases, and current balances, giving you the information needed to monitor financial performance and produce accurate financial statements.

Tip: Need more info about cash accounts? Review bank account records to ensure an account is configured correctly for cash management, reconciliation, and transaction processing.

To open, select View from the menu of an account or select its account number. From the record, review activity, budget, and transaction default details, add alerts, and view a history of changes made to the account along with any notes added.

Tip: If the account is a clearing account used with Deposit Connect, review details for an account's non-disbursed payments.

Activity displays a summary, including beginning and ending balances, debits, credits, and net change. The full summary amount displays, regardless of the project security in place. When you view a period, all amounts that make up the summary number are displayed while the project ID and description are masked.

Tip: When you view a fund balance account, another Beginning balance column appears, representing the next fiscal year's beginning balance.

Budget details include actual and budgeted amounts for a specified time period. The full summary amount displays, regardless of the project security in place. When you view a period, all amounts that make up the summary number are displayed while the project ID and description are masked.

Tip: The Budget scenario filter shows only budgets that exist for the selected fiscal year on the selected account. If no budgets exist for the selected year and account, the full filter isn't available.

Edit or Delete an Account

To edit an account, select Edit on the action bar (or from the account's menu on the Accounts page), then make your changes. For example, you might want to change the account description, report classifications, or transaction defaults. Keeping account details current helps ensure reports and financial statements reflect the latest account status.

To delete an account, select Delete from the account record action bar.

Tip: You must have appropriate security rights to delete an account. You can't delete accounts that have transaction activity or are in use by other records.

Lock an Account

Lock an account to prevent further data entry without deleting it or losing its history. From the account record action bar, select Lock account. To unlock the account, select Edit on the account record and clear Prevent data entry for this account.