GL Accounts
To create new General Ledger (GL) accounts in your financial system. To specify the necessary details for setting up a GL account, including account group, account codes, account name, tags, and status.
To create GL Accounts, go to Financial Statement > General Ledger > Settings > GL Accounts > AddNew
(or)
Setup > General Ledger > GL Accounts > AddNew
Fields and Descriptions
- Account Group :Select the appropriate account group for the new GL account.
- Account Code : Enter the unique code for the GL account. This code is used to identify the account in the system.The account code can be either alphanumeric or numeric, with a preference for numeric codes to maintain a sequential order.
- Account Code 2 : Enter a secondary code for the GL account if required.
- Account Name : Enter the name of the GL account. This name will be displayed in financial reports and account listings.
- Account Tags : Select or enter tags for the account to facilitate easy categorization and filtering. Tags help in identifying accounts based on certain attributes.
- Account Status : Set the status of the GL account to determine its active state. Only active accounts are used in transactions and reports.
Account code can be auto generated for the for the Numeric types. This can be set from. Setup -> System and GL Setup. Account code type. And if you set Alpha numeric, you dont see the New code button to generate next code. Alphanumeric is your choice of auto input.