On window you can:
- Add or change the contact name, telephone number and fax number for your general ledger on the Company tab.
- Change account settings, such as the account groups option, and change the default closing account, on the Account tab. You cannot enter a Default Closing Account number until after you have set up the chart of accounts. If this account has the Post To Account field set as prohibited, you cannot select that account as the default closing account.
- Specify a default source code for journal entries on the Posting tab.
- Add account segments, change segment names, and change the default structure code using the Segments tab.
Options are set up when you create your general ledger. After you have set up your ledger, use this window to change some of these settings.
Changing settings
Before changing any of the settings or options, make sure you understand the impact the options have on processing within General Ledger
Company name and address
To change the company name and address, or to change the contact name, telephone number, and fax number at the company level, use the Payroll Company Profile window in Payroll Setup. To change the contact name, telephone number and fax number for the General Ledger administration, use the Options window in General Ledger setup.
Account groups and retained earnings account
You can change your choice for the Use Account Groups option, or change the default closing account at any time.
Years of fiscal sets/transaction detail
You can change the number of years to keep these types of data at any time. You cannot keep transaction details for more years than are specified to keep fiscal sets. The number of years of fiscal sets and transaction detail you can keep depends on your edition of General Ledger.
Account number segments
You can add new segments and change segment descriptions at any time. However, you cannot change the Account Segment after you have set it the first time.
The maximum number of segments you can have is 10 segments.
You can delete or change the length of an account number segment at any time, as long as no account structure uses it.
To use G/L Options
- Click one of the four tabs to open the page and make changes.
- Click to keep any changes you make or click to leave without changing any options.
Note: You cannot save Options if any other General Ledger windows are open (on any user's computer).