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Adding a New G/L Account

The G/L Accounts window contains tabs of information about each general ledger account, depending on the options you have chosen for the particular account you are adding or displaying. The Detail tab contains all the information that is required for every account and is the tab that displays whenever you open the G/L Accounts window.

Before you start

Before you can add an account, you must decide the following:

The account number and description (name) of the account.
The account structure code.
The account type, and normal account balance (debit or credit)
Whether to post transactions in detailed or consolidated window, or to prohibit posting to certain accounts.
Whether to close an income or expense account to an account specified for a particular account code segment.
Whether to reallocate the account balance to other accounts on a regular basis, and if so, to which accounts and in what proportions.
Whether to store additional information for the account by using optional account fields.
Whether you want to keep optional fields with transactions you post to the account.
Whether to roll up accounts, and which accounts can be rolled up.

Design the chart of accounts carefully before adding any accounts

How you organize your chart of accounts depends on how you intend to use particular features of the General Ledger system.

You must decide:

Which accounts you need.
Which account segments each account requires.
How you will assign account numbers.

Design your chart of accounts carefully. It is much easier to move accounts around before entering them, than to change them afterward.

To add a new account to the General Ledger

Select Setup > Payroll > General Ledger Setup > Accounts.
Click New, type the new Account number, and then press Tab.
Note: You can type account numbers with or without the delimiter character used to separate account number segments.
Enter the Account Description.
Fill in the fields on the Detail tab.
If you have more than one segment in your account numbers, use the Finder in the Structure Code field to choose the account structure that matches the segments in the account you are adding.
Choose the Normal Balance (Credit or Debit) for this account.
Choose the Account Type (Income Statement, Balance Sheet, or Retained Earnings) for this account.
If you use account groups, use the Finder to select the Account Group for this account.
In the Post to Account field, choose Detail, Consolidated, or Prohibited. You cannot post to a prohibited account.
Choose from the following account options:

If you plan to use optional transaction fields with transactions you post for this account, specify the optional fields and their default values on the Trans. Optional Fields tab.

When you have added data to the appropriate fields on all the tabs, click Add or click Save.

After adding an account

Print the chart of accounts.
If you are setting up the General Ledger, and have added all your accounts, you should now add previous year balances. See Editing account information.
Use the Budget Maintenance window to add budget information.