In this topic, we continue our discussion of setting system defaults that began in Set System Defaults.
GL Posting Accounts cannot be set-up until after the Chart of Accounts has been completed.
The fields and features of the GL tab are described in the table below.
|
Button/Feature |
Function |
|---|---|
|
Cost Center |
Specifies the cost center |
|
Posting Accounts |
Posting account numbers – only enter A/R late charges and service fees if applicable |
|
Current Periods |
Used to set the period for the General Ledger, Accounts Payable and Accounts Receivable modules at the beginning of each month. The INV field is designed for those who close the month prior to the last day of the month. By updating the field, any invoices that have not been posted to accounting for the current month will post in the next month. |
|
Suppress Zero Accounts |
Used to prevent accounts with zero balances from being displayed on the balance sheet or income statement |
|
Use 13 Accounting Periods |
Select to process year end journal entries in the 13th period allowing a complete set of financials to be generated in periods 1 - 12. The system will automatically add this period to the fiscal periods. |
- Using the final Chart of Accounts, you must enter the GL posting accounts for the 00 entity and 00 cost center.
- Set the current period to the appropriate period.
- Select the appropriate options as needed.
See Also