The General Ledger Account Additions function allows you to add general ledger account records to the chart of accounts. It does not provide for the entering of account balances.
Upon entering the GL Account Additions module, the year in your Master Profile displays.
Account #
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Enter the GL account number to be added to the GL chart of account.
Note: If you are using dictionaries, the system will automatically enter 'G' as the record type and construct a description for the account based on the dictionary abbreviated descriptions of the account elements. The system will then proceed directly to the R/E prompt.
GL/HEADER
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Enter 'G' if entering a GL account or
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Enter 'H' if entering a heading account.
Note: The use of headers in the GL is inconsistent with the use of the dictionary facilities and dictionary validation. When the profile record indicates that dictionary validation is to be used on the GL account, this prompt will be bypassed by the program and the 'G' option automatically inserted.
Description
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Enter the description of the GL account or heading. Note: When GL account dictionary validation is used, the system generated description may be overridden during the Field # to Change operation, if unsatisfactory.
REV/EXP
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Enter 'Y' if the account is to be considered as either revenue or expense for reporting purposes or
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Enter 'N' if not.
Note: The revenue and expense indication on an account is used for selection purposes in financial reporting. The most significant use of it is during the year-end processing. During this process, all accounts that are revenue and expense have their balances cleared to zero and the net result of clearing all revenue and expense accounts posted to the surplus account. This means that when you declare an account not to be a revenue and expense account, it is by default, a balance sheet account.
Budget
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Enter 'Y' if the account is to be eligible to have budgets entered against it.
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Enter 'N' if not.
Note: If you enter 'N' for the budget control flag on GL record, the system will not allow you to enter budgets against the account. To enter budgets on the account to be used for financial reporting, you must respond 'Y' to this prompt.
Parent
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Enter 'Y' if the account is to be considered as a parent account.
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Enter 'N' if not.
IF the GL Account Is A Parent, and Option 10 IN the Finance User Profile Is Set to Expense, the following prompt will display:
Budget/Expense
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Enter 'B' if budget checking is to be budget based.
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Enter 'E' if budget checking is to be expense-based.
Note: A parent account is like a header. It acts as an accumulation point for the total of commitments, expenditures, and budgets for a series of GL records, called siblings. If you establish an account as a parent, over-budget conditions which would normally be indicated on an account-by-account basis during data entry will only be indicated when the budget overage occurs at the parent level. This means that as data is entered to each of the siblings that point to this parent, the system adds the entries to the sibling and then adds the values of the transaction to the parent balances also and does the budget check on the parent or summary account. If the parent account is over-budget, the over-budget message is given, and the invoice or purchase order are put into an over-budget status.
Parent accounts CANNOT have journal entries made directly to them. Parent accounts can be established at any time during the year. There is an option in Section 8.0 of Balancing and Audit that allows you to reconstruct the balances on parent accounts at any time. This is useful either to add or change parent/sibling relationships during the year or, in the event you need to do recovery of balances after a system failure, see Section 8.0 of the manual.
Control
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Enter 'Y' if this account is to be a sub-ledger control account.
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Enter 'N' if not.
Note: Transactions may not be entered directly to a control account. Instead transactions are first posted to a sub-ledger and summary entries are made to the control account during sub-ledger update. You can post from a sub-ledger to a GL account without calling it a control account. This can create some difficulties in terms of maintaining reconciliation between the totals in the sub-ledgers and the GL, but is useful, particularly for work order type sub-ledgers.
CAP Asset
This prompt cannot be entered but identifies whether an account is a capital asset account as defined by the GL Selection Criteria specified in the User's Profile option #42. The default of No will be updated to Yes after running the Account Mass Update program.
BUD VAR %
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Accept the default, if there is no budget tolerance variance.
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Enter the percentage this account will be allowed to go over budget before the over budget warning is sounded during data entry.
Factor 1
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Enter zero if you do not want to use the Factor entry.
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Enter a value in the Factor if you wish to use it.
Factor 2
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Enter zero if you do not want to use the Factor entry.
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Enter a value in the Factor if you wish to use it.
Factor 3
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Enter zero if you do not want to use the Factor entry.
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Enter a value in the Factor if you wish to use it.
Note: The fields Factor 1, Factor 2 and Factor 3 allow you to store static information on the GL record. These can be accessed and used in financial reporting. They can be used to maintain simple statistical information desirable for use in reporting per unit values based on dividing the statistical unit into dollar or budget costs.
Budget Parent
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Enter the account number of the budget parent if this account is to be a sibling of that budget parent. (See note to prompt 06)
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Accept default, if the account is independent of any budget parent.
Account Alias
If you have established an alias structure for use in your accounting system and have indicated in the profile record that alias dictionary validation is to take place, the following window will be displayed. You will be expected to enter the alias for each alias level described in the profile.
Note: If you have defined use of the alias in your dictionary, you cannot enter a GL record on the file without a valid alias code entered for each level as defined in the profile.
Each level of your account alias will display. The cursor will be sitting at the following prompt.
Contents
Listing of valid alias dictionary levels is available.
You must enter a valid dictionary item for each level. Once completed, this banner will appear.
The Following Two Prompts Appear IF GST Is ACTIVATED IN the MASTER PROFILE:
GST % Exempt
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Enter the percentage that the GL is exempt of GST. Note: This can only be a whole number.
GST Tax Code
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Enter the GST tax code that applies to this GL. This tax code should be a valid tax code in the tax code database.
the Following Prompt APPEARS IF Option IN the User PROFILE Is SET to 'Y'.
Expiry Date
If an expiry date is entered against the GL, the GL will be soft deleted and no activity against the GL after the expiry date will be allowed. The Delete Expired GL's option must be run to activate the expiry date process.
Require Secondary Vendor
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Enter 'Y' if you want to force the entry of a secondary vendor number whenever charges are entered against this GL number.
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Enter 'N' if not required.
Comment
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Enter an optional comment for this GL to a maximum of 250 characters.
Lock GL Description
Accept default, to add the account to the file and refresh the screen for the next entry.
If a transition file exists (see 'Transition File Maintenance'), the user will be prompted to add the GL account in the other year defined in the transition file. One of two prompts will appear:
Add This GL Record IN [Future Year]
Add This GL Record IN the Current Year
If the GL account already exists in the year the user is prompted to update, a message will display informing the user, however, the account will not be updated in that year.
Note: This functionality is also available in GL Account Changes and Deletions. In GL account changes, an update will update all fields on the GL, regardless of whether they were changed within the current session. As a result, the GL accounts will be identical in both years.
Note: If BPS accounts are to be updated (See BPS Master profile, BPS, 6,1,1), the BPS account will only be updated in the year originally entered.
Note: If the alias codes do not exist for the other year that is being updated, the alias codes for that year are still updated on the GL.. The codes will need to be manually added to the alias dictionary.