How to create a General Ledger Account

Follow these step-by-step instructions to set up a new general ledger account

Pre Requisites

• Create an employee
• Create an office

Steps:

1. Navigate to Accounting > General Ledger > General Ledger Accounts.
2. Click Create a New General Ledger Account.
3. Enter or select the following information
   
   
   

   Fields	Description
   Account No*	Enter an account number. Alpha or numeric can be used.
   Account Name*	Enter an account name.
   GL Account Type*	Designate an account type for your GL: Assets, Billings, Billing   Control, Equity, Expenses, Income Tax Expense, Liabilities,   Other Income, Revenue, and Statistics
   GL Report Group	Specify the report group for categorizing the new GL account.
   Budget Category	When the GL Account Type is set to Billing, Revenue, or Other   Income, it is possible to modify the Budget Category.
   Budget Expenses   By Department?	In case there is a need to budget expenses by the department for this GL Account. Note: The option to budget expenses by the department is applicable only to GL Accounts classified as GL Account Type - Expenses.
   Budget Expenses   By Job?	Indicate whether or not there is a desire to budget expenses by job.
   Office Specific?	To limit the availability of this GL Account for selection to a  particular office, select the relevant office from the drop-down menu.
   Bank Account	If the GL Account is a bank account, tick the Bank Account checkbox. By doing so and clicking on SAVE, a hyperlink named Banking Details will appear on the top line, which is where you can enter the necessary details for uploading files to Internet banking.
   Payroll Account	Check to include payroll accounts.
   Active	Check to include active general ledger accounts.
   Exclude from Client Profitability?	Check to exclude the non-operating costs from billing, revenue, and expense GL accounts.
   Map To 1099 Box	Map to 1099 is a feature that allows you to associate a GL Account with a specific category or box on the 1099 tax form. Use this field to select the appropriate 1099 category for the GL Account.
   Cash Flow Category	Choose a cash flow category.
   Prepayments Control Account No	Enter or select the prepayments control account number.
   Transaction List	Enter or select the transaction list.

4. Click SAVE or SAVE & CLOSE. 

Related Links: 

Create an Office

Create an Employee

Search an Employee

General Ledger Accounts - How to restrict access