Go to: Main menu > General Ledger Module > General Ledger menu > Chart of Accounts.
From the GL Account List window, click Insert.
In the Account Code fields, type a code or number and then name or description for your new account.
Note: The general ledger account code or number must be unique.
Do not enter a / as part of the account code. If you do include / in the account code, whenever you export GL codes to Excel, Excel treats any word with numbers and a / into a date format. For example, 23/12. This will be interpreted by Excel as
Optional: Click the Subtotal To arrow, and select the account to which the new account will be subtotalled.
Note: Subtotal To accounts are used to subtotal a group of accounts and will be displayed in the financial reports. For example, Eukanuba Sales, Hills Sales, Purina sales might all have their own sales accounts, but be subtotalled to the Food Sales account. Only the Food Sales total will appear in the financial reports.
The accounts that have been subtotalled can be viewed in a separate report. These accounts can be of more than one type and a separate profit and loss statement can be produced for a subtotal group.
Select the appropriate account type.
The type determines where balances of these accounts appear in the Financial Statements. During the set up procedure it is advised that the user either use an accountant or the previous year's financial statements to identify the required accounts and select the right types for those accounts.
Optional: If the account will not include GST, select the Zero Rated for GST check box. For example, you would select Zero Rated for GST for wages and bank accounts.
Optional: If the account will be reconciled, select the Bank Account check box.
Optional: To mark the account as Subtotal Header Account only, select the Subtotal Header Account Only check box. If an account is marked as a Header account then you will not be able to post transactions to that account and is only used as a heading for all subtotal accounts attached to it. For further information please refer to the GL Header Accounts section in this manual.
Click Save.
You can now use the new general ledger account code.
