Revised: 11/27/2013
Go to Maintain>>Account Type Master
This program is used to setup and maintain Account Type Codes for use in the GL Account Master. Type Codes are used to setup default parameters, set check book and closing account types, tracking and interface parameters.
To set up a new account type, enter a unique code. The code can be alphabetical, numerical or a combination of both.
To access a previously set up account type enter or browse for the type code.
Type code is a key value and may not be changed once it is saved.
For a new account type code enter an appropriate description. For an existing account type, the description will be displayed.
You may change the description for a type code at any time.
Select one of the following from the drop down menu:
Asset
Equity/Fund Balance
Expenses/Cost of Goods
Income/Sales
Liability.
Enter a sequence number or leave blank to accept the default. This number will control the output order on automatically created financial statements.
The default sequences are as follows:
|
Code |
Description |
Sequence # |
|
HD |
Header |
0 |
|
CH |
Current Assets - Checking |
10 |
|
CA |
Current Assets - Not Cash |
20 |
|
FA |
Fixed Asset |
25 |
|
LB |
Liability |
40 |
|
EQ |
Equity |
60 |
|
RV |
Revenue |
80 |
|
EX |
Expense |
90 |
A check mark in the box indicates:
A general ledger account number using this account type code will allow a check book ID to be entered/associated.
Transactions using general ledger account numbers tied to a check book will interface to that check book.
Leaving the check mark field blank will:
Leave the check book ID field dimmed and unavailable for entry when setting up or editing a general ledger account number.
Enter a check mark in the box to indicate that general ledger accounts setup with this Accont Type are closing accounts.
General Ledger accounts that are marked as closing accounts will be included in the Closing Account browser that is available for general ledger Profit and Loss accounts in the GL Account Master and in the Update Closing Account program.
Leave the checkbox unchecked if the account type should not be a closing account type.
The defaults set here will be brought up when a new general ledger account is entered. The default information can be changed, as needed, for each general ledger account number entered.
Select a default statement type from the following:
Balance Sheet Account
Profit and Loss Account
For more information on statement types click here.
Select one of the following:
Parenthesis on Credit Balance
Parenthesis on Debit Balance
You are setting up the default control for parenthesis used in General Ledger trial balance reports and financial statements. You should choose to put the parenthesis on the opposite of the normal balance for an account type.
For example:
Expenses normally have a debit balance. So the Paren control for EX (expenses) would be Parenthesis on Credit Balance. This would show parenthesis around a credit balance for an expense.
If you want to track some of the following items, select up to four types for Item Number 1 - 4; otherwise, leave this field blank.
Average rate of pay
Cellular Overage
Cellular Roaming
Cellular Usage
Number of employees
Number of services
Payroll hours
Utility Consumption
Each time you use a general ledger account number with a type code that has a tracking item associated with it, you will be prompted to input a value. If you have four tracking items set up for a type code you will be prompted for four values when the general ledger account number is used.
For each tracking item set up the user can describe the type of units they want users to enter a value for.
For Example:
If you use the tracking item Utility Consumption then the unit you want them to enter could be gallons. The prompt would show up as:
Utility Consumption ____ gallons.
The user would enter the number of gallons where the ___ is.
Place a check mark in this field to set this account type as one that will interface with the fixed asset module.
Place a check mark in this field to set this account type to interface with legal hard costs in the Legal Module.
Placing a checkmark in this field will exclude general ledger accounts linked to this Account Type Code from showing on the Accounts Payable Bill List.