Add Account
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 captures increases, decreases, and current balances, giving you the information needed to monitor financial performance and produce accurate financial statements.
Tip: Creating a cash account? Review bank account details first to ensure the account is configured correctly for cash management, reconciliation, and transaction processing.
From the list of accounts, select Add, Add account.
Enter an account number and description.
All segments must have valid values based on the account structure defined in Settings, General ledger, Account setup and Account codes.
Tip: Review details about the account structure, including how to add segments, adjust segment lengths, and set up account codes.
To lock the account from data entry, select Prevent data entry for this account.
Tip: You can also prevent posting after a future date by selecting Prevent posting after and entering a date.
Enter Report classifications details.
You can view and edit Statement of cash flows and Working capital schedule only when Do not allow editing of class restrictions on funds is cleared in Settings, General ledger, Business rules, Fund.
Class - Defaults from the account code or fund specified by the account number.
Statement of cash flows - Defaults from account code specified on account number.
Working capital schedule - Defaults from account code specified on account number.
To add additional details for the account or improve filtering in searches, use custom fields.
Enter details for Transaction defaults.
The transaction codes that display are configured in Settings, General ledger, Transaction codes. Options for each transaction code default from table entries. To edit the table entries, navigate to Settings, Fields and tables, Tables.
Defaults for each transaction code are based on fund settings.
Select Save.