Enter and define the general ledger accounts and create the chart of accounts for each enterprise.
Summary accounts are used to establish a hierarchy of account information, which allows on-line visibility of rolled-up account information. This hierarchy may relate to the balance sheet and income statement structure. The summary accounts are also highly useful with the Financial Report Tool, which is set up in program GGRM, Financial Reports Maintenance. Each detail account can belong to only one summary account.
Account classifications are the normal classifications. The classifications are Asset, Liability, Equity, Income, Expense, Statistical, which are other than dollar and cents accounts, and Intangible, which are dollar and cents accounts arbitrarily assigned such as good will.
Accounts which can have 1099 reporting for non-incorporated vendors must have a 1099 code entered which has been previously set up in program AP99, AP 1099 Codes. These codes may relate to the government 1099 reporting codes.
Accounts which may have forecasts created in addition to budgets, such as revenue and expenses, should be flagged as forecast in program GLTM, Account Maintenance.
Copy account numbers from one enterprise to another. (Optional)
Copy account numbers by segment. This program is should primarily be used to copy account numbers within an enterprise, but can be used to copy account numbers between enterprises. (Optional)
Merge two accounts into one account. When the accounts are merged into one account, the account from which the information is being taken (the source account) is added to the merge account and the merge account's parent accounts. The source account is then deleted and its balances are deducted from itself and its parent accounts. (Optional)
Maintain account distribution codes. These codes permit automatic distribution of voucher amounts or percentages to specified general ledger account numbers. They can be entered instead of general ledger accounts in the general ledger account fields in the system. Only local account numbers should be used in the distribution codes. Accounts for consolidation enterprises should not be used.
Add code types to an account. Code types and code values are defined in program GLKT, GL Account Code Type Maintenance. Account code types group accounts into user-defined groups. (Optional)