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General
Ledger Chart of Accounts |
Description: |
The Chart of
Accounts summarize values for financial reporting. |
Operation: |
The only information
that is required for an account is a description.
Optionally, you can enter:
- An account number to make selecting accounts easier.
- The typical balance, so negative balances can be
highlighted in reports.
- A section sub-total flag indicating that this account is
the last in a group on the Trial Balance and Worksheet.
- A counter balance account to make entering paired accounts
easier to enter. (For Example, Accumulated Depreciation and
Depreciation Expense)
- An auto-distribution code to automatically distribute
amounts in Journal entries.
- Whether to close this account at year-end (ie., Expense or
Income accounts).
- Set this account as discontinued (To phase out an account
that may still have active postings).
To display the transaction detail for an account, click on
the Detail (Account
Inquiry) button
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