4.3 General Ledger Accounts
Choose GL Accounts under the Ledger menu or use the keyboard shortcut <cmd-G> to access the General Ledger Accounts dialog window.
4.3.1 Purpose
A General Ledger Account is a unique 4 digit alpha-numeric identifier which is used for posting to the General Ledger.
4.3.2 Number of General Ledger Accounts Required
A minimum of one (1) general ledger account is required. No maximum number of general ledger accounts applies.
4.3.3 Adding A New General Ledger Account
After having chosen GL Accounts under the Ledger menu (keyboard shortcut <cmd-G>), choose New Ledger under the File menu (keyboard shortcut <cmd-N>).
Figure 4.3.3.1 -- New General Ledger Account Dialog Window
Complete the New GL Account dialog window as follows:
a) GL
Enter a unique alpha-numeric general ledger account identifier with
up to 4 characters.
b) CC
Enter the number of the cost centre to which the account belongs.
c) AC
Enter the account identifier number that your company uses. It may
be distinct from or identical to the GL number, and may have up to
eight digits.
d) Type
Select from asset, equity, expense, liability, or revenue.
e) Name
Type a name for the GL acoount.
Figure 4.3.3.2 -- Completed General Ledger Account Dialog Window
In order to edit a value in any field of the New GL Account dialog window, either tab to or click on the appropriate field and make the desired changes. Select 'OK' to save the new general ledger account.
The GL Account number and name will now appear in the GL Accounts window. If you wish to add additional new GL accounts, repeat the above steps. Once all new GL accounts have been added, select 'Cancel' to return to the GL Accounts window.
It is important, once these steps have been completed, to hold down the
<Option> key and double-click on the name of the new GL account as it
appears in the GL Accounts window. This calls up a dialog which allows you
to set the opening value of the account.
Figure 4.3.3.3 -- Edit Account Dialog Image
To exit from the GL Accounts window click in the small box in the upper left corner of the window or use the keyboard shortcut <cmd-W>.
4.3.4 Editing An Existing GL Account
Choose GL Accounts under the Ledger menu selection or use the keyboard shortcut <cmd-G> to access the General Ledger Accounts dialog window.
To access the Edit G/L Account dialog window, hold down the <Option> key and double-click on the name of the GL Account you wish to edit.
Figure 4.3.4.1 -- Edit Account Dialog Window
Either <Tab> to or click on the field you wish to edit.
a) GL- the General Ledger Account number
b) CC- the Cost Centre that the account is associated with
c) AC- the Account identifier number (may be up to eight digits)
which may be the same as or different than the GL number.
d) Name- the name of the account
e) Opening- the initial value of the account
f) Dr- the debits that have accrued to the account since opening.
Normally, these are entered through the Journal Voucher.
g) Cr- the credits that have accrued to the account since opening.
Normally, these are entered through the Journal Voucher.
h) Export- you can elect to export the balance of this account to
another account identified by the GL, CC, and AC numbers beside the
check box.
i> Last Yr- to see last year's balances at the closing of each
period, click on this button.
j) Budget- to set the budget fot this account for each of the coming
periods, click on this button.
k) Delete- to delete this GL Account, click on this button.
To exit from the GL accounts window click in the upper left hand corner
of the window or use the keyboard shortcut <cmd-W>.
4.3.5 Viewing Account Transactions
Choose GL Accounts under the Ledger menu or use the
keyboard shortcut <cmd-G> to access the General Ledger Accounts
dialog window.
To view the transactions associated with a particular account, double-click
on the name of the account in the GL Accounts window. Set the proper date
range and click OK. To return to the GL Accounts window, click in the small
box in the upper left corner of the account window.
Figure 4.3.5.1 -- Account Transactions Window
4.3.6 Deleting An Existing GL Account
Choose GL Accounts under the Ledger menu or use the keyboard shortcut <cmd-G> to access the General Ledger Accounts dialog window.
Note: If a GL Account has outstanding transactions attached, you will not be able to delete the GL Account.
To delete a GL Account, first access the Edit G/L Account dialog window by holding down the <Option> key while double-clicking on the name of the GL Account you wish to delete. To delete the GL Account click on the 'Delete' button.
Figure 4.3.6.1 -- Delete G/L Account Dialog Window
You will be prompted to confirm that the selected GL Account is to be deleted. Click on the 'Delete' button to delete the GL Account. If you do not wish to delete the GL Account, click on the 'Cancel' button.
4.3.7 Setting the Budget
To set the budget for a particular GL Account, first select GL Accounts
under the Ledger menuor use the keyboard shortcut <cmd-G>. Hold down
the <Option> key while double-clicking on the account that you want to set
the budget for. This calls up the Edit Account dialog. Click on the button
marked 'Budget' to call up the Account Budgets dialog.
Figure 4.3.7.1 -- Account Budget Dialog
The Account Budget window chronicles the projected changes in account balance,
by period, over the course of three years. When these have been properly entered
and edited, click on the 'OK' button. To cancel your changes, click 'Cancel'.
