G/L account information is recorded on the code and description fields on the account card and from the following tabs.
- Definitions
- Connections / Controls
- Table Options
The information to be entered is:
Account Code: A key field of 24 characters long. Alphanumeric characters can be used for coding. The point to be considered here is that each account can have as many sub-accounts as required. Each level can be divided into as many subdivisions as required. The Code field is mandatory. As in all other mandatory fields, this field is also marked with an “*”. Main accounts and sub-accounts are separated with a level separator, “.”, depending on the coding system applied.
The chart of account is prepared by first opening the highest-level account, and then the related sub-accounts. Sub-account information cannot be recorded without opening the main account. In such cases, the application warns the users and prompts for the main account to be opened first. Numbers are automatically assigned by clicking the “Assign Number” button.
Description (1): The name or the description of the G/L account. Although the account description field is important for account cards, it is not mandatory. The same Description can be entered for separate account cards. However, since transactions such as search and sorting are intensely performed using account description as well, account cards are also sorted by the first ten characters of the account description. Therefore, assigning distinguishing characters for the first ten digits of the account description as in account codes would be useful for reporting. The “In Other Languages” button can be used to enter descriptions in languages defined in the system. The description language is selected here.