General Ledger Code Details

General Ledger Code Details

Purpose

To allow the creation of a General Ledger chart of accounts so account integration entries may be posted.

Timing

GL Codes may be added at any time

Access

  1. General Ledger | Access GL Codes
  2. [F2] on any GL Code Lookup field

Dialog Details


Details Specific Fields

Field
Explanation
GL Number
Enter a GL number for this code

The number is usually in the format of nnn.nn
GL Code
[F2] to  the GL Type that this code belongs to

This will determine the type of account this is, and where it will print on the Trial Balance
Control PostingThere are two options available:
  1. Control Posting Only
  2. Tran Input Allowed
These are used to control whether GL Journals may be added to this GL code.

Control posting will not allow manual GL Journal entry to this account

It is used for any GL Codes that are control accounts posted to/from any accounts system, and are used to reconcile to

Journal entries to these accounts will cause incorrect postings from the accounts systems at the following month end

Bank account GL Codes are normally set up in this way also, as their entries are sourced from the cashbook.

Tran Input Allowed will allow manual GL Journals to be posted to this account
Tax
[F2] and  a GST Rate that will be applied to this GL Code

This will normally be the GST code that has a zero rate associated with it

The time when a GST Code with a rate associated with it may be selected here is if GST is to be deducted from the transactions posting to this account

This will be the case where transactions entered through the cashbook are to be split between the GST account and the GL Code
The gross transaction amount will be entered in the cashbook, and the net amount posted to the GL Code

The GST portion will post to the GST GL Code associated with the GST code selected here










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