Overview
The General Ledger Chart of Accounts is the heart of the TRX accounting system. All accounts must be set up in this screen before any processing may begin. Account Categories, sub-categories, and segments must be set up prior the chart of accounts being created.
Detail
Category - Enter a Category or press F9 for a list of account categories that you defined in GL Account Categories Setup
Sub Category - Enter the Sub Category or press F9 for a list of sub-categories.
Account Type – The account type will set itself based upon the category selected and cannot be altered.
Account # - choose the account number of the GL account you are creating, it must fall in the ranges that you defined for category and sub Category.
EEC - code will default to the account number, but can be overwritten for easier entry into the sub-ledgers
Statement Sort Order – A numerical value that will determine this items position in the financial reports.
You now have the option of clicking on the save icon or if you have used Branch and Divisions the chart assistant icon.
This icon is used to set up multiple accounts that can be used when you have created segments in your chart of accounts. This will allow you to set up the same chart of account numbers for several regions, divisions or branches.
Note: When selecting an account number the number will default as the easy entry code (EEC).
Note: Divisions and Branches option will only appear if they were defined in set up it is a conditional tab.
Locations and Departments
Between the Category and the Classifications tabs, two more optional tabs may appear that further allow you define the account number. During the GL setup, if you chose to use Branch and Divisions, you will have the option of assigning account numbers to them through optional tabs. Pull down buttons will appear allowing you to choose from the option that you set up in the GL setup screen.
Branch – Use the pull down menu to declare what branch the GL account is for.
Division – Use the pull down field to choose which Division the branch is assigned to if any divisions have been created.
Account Classifications
The Account Classifications screen gives the user the opportunity to assign each account set up in the chart of accounts a specific classification. The classification is used to determine which accounts will be displayed as options when using the F9 function. For example, any account classified as sales accounts will be an option in the Accounts Receivable Invoice Entry screen when you press the F9 key in a sales GL account box.
GL > Chart of Accounts Maintenance > General Ledger Account maintenance
Each line item on this screen contains a General Ledger account number, sub-account, Easy Entry Code (EEC) for each account, and the account's description. This screen will identify whether an account will be used in a transaction pertaining to the following areas of business.
Inventory
Sales
COGS (Cost Of Goods Sold)
Inventory Adjustment
Inventory Accrual
WIP
If the account is associated with any of these categories you will need to click the pertinent box. An account can be classified in more than one category or none at all.
