Chart of accounts (GL202500)
You use this window to create and maintain the structure of accounts specific to your company. The system supports four types of general ledger accounts: Asset, Liability (balance accounts), Income, and Expense (income statement accounts). With this window, you also can assign accounts to account classes, which can be used for information grouping and sorting for reports and inquiries. For more information about accounts, see: About account types and classes.
Before you create your chart of accounts by using this window, create the account classes by using the Account classes (GL202000) window. Also, consider your organisational structure, and configure the account and subaccount identifiers by using the designated segmented keys defined in the Segment keys (CS202000) window.
The window toolbar
| Button | Description |
|---|---|
| View restriction groups | Navigates to the Restriction groups by general ledger account (GL104020) window and displays the list of restriction groups associated with the account. You can add the account to the selected restriction groups. |
| View notification feedback | This button appears if the Webhook notifications check box in the General ledger preferences (GL102000) window is selected. If you click this button, the Webhook notification for account (GL407000) window opens where you can view the notifications regarding changes done on accounts and view the notification feedbacks. |
The table
| Column | Description |
|---|---|
| Account | The unique identifier of the general ledger account in the system. While specifying the values in segments, you can use the validation function, which allows you to select a value for each segment from the list of existing ones. For details, see the Segment keys (CS202000) window. For details about validation, see: About account IDs. |
| Account class | Optional. The account class to which the account is assigned. Account classes are used for convenient grouping, sorting, and filtering of the information associated with General Ledger accounts in reports and inquiries. |
| Type | The type of account, which is one of the following four types: Asset, Liability, Income, or Expense. |
| Active | A check box that indicates (if selected) that the account is active. An inactive account does not appear in the drop-down lists of available accounts on data-entry forms. Clear the check box if the account is no longer used. |
| Description | An alphanumeric string of up to 30 characters that describes the account. > [!NOTE] > This field supports the multi-language functionality, where you can translate the entered text to multiple languages. For more information, see: About multi-language support |
| Require units | A check box that indicates (if selected) that every transaction posted to this account should have quantities and units of measure specified. |
| Use default sub | A check box that causes the system (if selected) to set the default subaccount as the Subaccount if the account is selected. The default subaccount is defined using the General ledger preferences (GL102000) window. |
| Post option | An option that defines how transactions created in other workspaces are posted to this account. Two options are available:
If the Post summary on updating general ledger check box is cleared on the preferences window of a particular workspace, the transactions will be posted separately to account (subaccount) regardless of which option is specified for an account in the current window. The summarised transaction amounts will be posted to an account (subaccount) only if both the Summary option is specified for an account and the Post summary on updating general ledger check box is selected on the preferences window of the corresponding workspace. |
| Consolidation account | Optional. This column is used only if the company is a consolidation unit in a parent company. The external general ledger account from the parent company’s chart of accounts to which the balance of the account will be exported in the process of consolidation. Select the account in this column only if the synchronization of the parent company with the current company has been performed in the Consolidation (GL103000) window for the parent company. This column is available only if the General ledger consolidation functionality is enabled in the Enable/disable functionalities (CS100000) window. |
| Currency | Optional: This column appears only if support for multiple currencies has been activated for the system. The currency of denomination used for the account. If the field is blank, the account uses the base currency. Denominated general ledger accounts cannot be used as source or destination accounts for general ledger allocations. You can always cancel currency denomination by clearing this field. |
| Cash account | A check box that indicates (if selected) that the account has a cash account or multiple cash accounts linked to it. Cash accounts are created by using the Cash accounts (CA202000) window. |
| Control account module | A control account is a general ledger account that aggregates the balances of entities in a subledger; it can be used for analytical purposes as well as for the reconciliation of balances between subledgers and the general ledger. You indicate that an account is to be used as a control account for a particular subledger by selecting the subledger. The alternatives are:
|
| Allow manual entry | A check box that indicates (if selected) that the account allows manual entries. |
| Control account module | The identifier of the subledger for which the account is used as a control account. The field is unavailable if the Cash account check box is selected. |
| Allow manual entry | A check box that indicates (if selected) that users can post transactions directly to this control account. This check box is available for selection only for control accounts (that is, for accounts for which a subledger is specified in the Control account module column). |
| Secured | A check box that indicates (if selected) that the account is included in one or more restriction groups. |
| Revaluation rate type | The exchange rate type that should be used for the account when revaluation is performed. A value is required only for accounts denominated to a foreign currency. |
| Account group | The account group (used in project management if the Projects workspace has been activated) that includes this account. |
| VAT category | A VAT category that you define for the selected account. When you create a journal transaction manually in the Journal transactions (GL301000) window, based on this VAT category, the taxable amount will be calculated for the journal entry. The category selected here will be used as the default on the invoice lines with this account. The type of the account must correspond to the type of the tax specified in the VAT category. For example: A VAT category representing a sales tax could not be associated with an expense account, and a VAT category representing value-added tax (VAT) accumulated on purchases could not be associated with an income account. |
| Public code 1 | It is used as the standard account code in the SAF-T report for Norway ( SAF-T report (TX50600S) ) and the FIA report ( FIA report (GL40500S) for Finland. There is no lookup here, so you have to know what code to enter. |
| External code 1 | These are codes for free usage and you have to register values in the External codes 1 (GL20251S) window. |
| External code 2 | These are codes for free usage and you have to register values in the External codes 2 (GL20252S) window. |
| Analysis code | This codes for free usage and you have to register values in the BI analysis codes (GL20253S) window. |
| Account ID | This is the unique id for the account and are used all places where there is a reference to an account in the system. This is given a value automatically. |
| Order of the charts of accounts | This column is filled out based on the Account type and are used in some reports and inquiries to sort and group the accounts. The values are as following: 1 = Assets, 2 = Liability, 3 = Income and 4 = Expense. In the General ledger preferences (GL102000) window you can select the sort order for this code. |
Related pages
Concepts
- General ledger windows - overview
- About account types and classes
- About account IDs
- About multiple ledger support
- About denominated accounts
Tasks
- Delete an account
- Edit an account
- Import accounts
- Check the link between a cash account and a base account
- View webhook notification via chart of accounts