General Ledger > Modify >

Chart of Accounts

 

         

 

 

Overview


Modify Chart of Accounts allows you to set up the accounts within the levels of your chart of accounts.

 

This Help page contains the following sections:

Filters

Chart of Accounts Grid

Add New Group

Add New Account

 

 

Filters


Select Balance Sheet or Income and Expense, whether you want to Show Inactive, and use your level filters as desired before clicking the Search button. The Cancel link returns you to the main General Ledger page.

 

You must make a selection for each level before clicking the Search button. These filters cannot be blank.

 

 

Chart of Accounts Grid


Browse the grid manually or click the Expand All button to completely expand the grid. The Collapse All button collapses the grid down to top level groups. The Account Increment field allows you to specify the increment when adding a new account to a level (e.g., with an Account Increment of 10 if the last account was 51030 the new one would default to 51040).

 

The following column headers display on the grid.

 

Account Number: Displays the account number for an account and the range of account numbers for a group.

Usage: Hover over the Information  icon in this column to view information on how many times this account is used in other levels. Click the Information  icon to view the Account Usage Detail window. This window allows you to see where this account exists in other levels, displays the description, allows you to update the description, and gives you the ability to add this account to other levels.

Account Type: Displays whether this account is an Asset, Liability, Capital, Income, or Expense account.

Name: Displays the Name assigned.

Budget: Displays the Budget amount assigned.

Closing Account: Displays the Closing Account assigned.

Active: A Check mark  icon displays if the account is active.

Note: A Note  icon displays if text has been entered. Hover over the Note  icon to view the text.

Setup: Hover of the Information  icon to view the name, date, and time of who setup and updated the account.

 

 

Add New Group


Click the Add Group button to add a new group. Specify the Starting #, Ending #, Name, Account Type, and if you want to Show Heading. Click the Add to Levels button if you want to add this group to multiple levels of your account structure. Select the levels to which you want to add the group and click the Continue button to save your selections or the Close link to return to the Add New Group window without saving. If you did make selections you can hover over Levels Selected to view which levels are selected.

 

Cross Level Groups

 

The Cross Levels option allows you to create a group that totals across levels in your account structure. This is only applicable to Budgeted Levels (Location, Cost Center, and Department). When using this option, a total line is created for display in reports. It displays total amounts based on the ending level selected as well as the account number. Add this group in the department from which you want to start totaling. Once the option for Cross Levels is selected, select an ending level and enter an ending account number. The Starting # and Ending # fields do not have account selectors so that they can be used as a range. If you create new accounts within this range, they are included in the total as well.

 

The Name field allows you to specify what text appears as a heading alongside the total amounts on the report. If you choose the Show Heading option on the group, contents of the Name field also display at the starting level and account number.

 

The following reports display Cross Level Group totals: Statement of Activities, Budgeted Financial Statement, Financial Spreadsheet, Comparative Trial Balance, and Preliminary Budget.

 

Click the Apply button to add this group and start adding another or the OK button to just add this group and return to the Chart of Accounts page.  The Reset link resets all fields and the Cancel link returns you to the main Chart of Accounts page.

 

Note: To return to the initial Filter page, click the blue Filters bar.

 

 

Add New Account


Click the Add Account button to add a new account. Specify the Account #, Name, whether the account is Active, if you want to Prevent Use of Manual Journal, and Account Type. If adding an Income or Expense account, you also select the Closing Account and have the option to select a GAAP Restriction Type:

 

Unrestricted are those items that have no donor-imposed restrictions.

Temporarily Restricted are those items that were received with a donor-imposed restriction that is satisfied in the future (generally within one year). The donor's restriction may be for a particular purpose or program or for use in a specified time period.

Permanently Restricted items are those received with a donor-imposed restriction that states that the donation must be maintained permanently, but may permit the organization to use up or expend part or all of the income derived from the asset.

 

Select the Functional Expense Type if applicable. This is a method of grouping expenses according to the purpose for which the costs are incurred. A Note can also be added. Click the Add to Levels button if you want to add this account to multiple levels of your account structure. Select which levels you want to add the account to and click the Continue button to save your selections or the Close link to return to the Add New Account page without saving. If you did make selections you can hover over Levels Selected to view which levels are selected.

 

Click the Apply button to add this account and start adding another, the OK button to add this account and return to the Chart of Accounts page, the Reset link to reset all fields, or the Cancel link to return to the main Chart of Accounts page.

 

Click the Add Sub-Account button to add a sub account if you have enabled sub accounts for your company. The options are the same for adding new accounts. An example of a sub account would be 40100-100 or 50350-8540.

 

Opening Balances 

 

Allowing users to enter opening balances is not in line with sound financial practices. A journal entry for a previous year is used in the program to adjust the opening balances so that an audit trail of activity is maintained.

 

Click the Add New  icon by any group in the grid to display the Add New Account window. If you are using sub accounts you can click the green plus sign by any account to display the Add New Sub-Account window. You can also double-click any group, level, or account in the grid or click the Edit  icon to edit that item.

 

 

Compiled on 10/16/2018 10:23:13 AM