Specifications

4  Lesson 2 Computer Tutorial 3
TOPIC 2.2
The G/L Accounts window
You need to know what each field in the G/L Accounts window means. With the G/L
Accounts window open, read the following explanations of the fields:
Account. This field displays the alphanumeric identifier of an account in the chart of
accounts. The account is usually a series of numbers set up in a segmented format. When the
system utilities are first set up after starting Accpac, the system asks you to identify the
account format you want to use. In this case, the sample data has been set up in the following
format: XXXX-XXX-XX. Each segment, or string of numbers between the dashes, can be
used to identify important information for a given business. In the Sample Company Ltd.
data, for example, the first segment identifies the account number: 4000 for sales, for
example. The second segment identifies the division: commercial or retail. The third segment
identifies the region: Northern, Southern, Eastern, or Western. The way you use the segments
depends on the needs of the organization. Some companies require geographical or
departmental information, while others may want information on a product line basis.
Description. This field displays the descriptive name of an account. It may contain up to
60 characters. Use a meaningful description to easily identify the purpose of the account.
Structure Code. You select the structure for the account you are creating. The sample data
has three possible structure codes: Account, Regional, and Division. For example, if you are
creating a divisional account such as Sales, Commercial region, Southern division, Accpac
will ensure the account code is in the format XXXX-XXX-XX. If you are creating an account
that can be used by any region or division, select the Account structure code and Accpac will
verify the account number format is in the form XXXX.
Account Type. Choose from the three types available: Balance Sheet, Income Statement, and
Retained Earnings. You must mark at least one account as a retained earnings account.
Normal Balance. Select the normal balance of the account you are creating. For example,
most asset accounts have a normal debit balance.
Account Group. Select an account group to which the account you are creating will belong.
Properly assigning an account to an account group will make financial statement design and
preparation much easier.
Status. Choose the status for the account. You cannot post transactions to an account marked
inactive. Inactive accounts are usually marked for deletion.
Post to Account. Select how transactions will be posted to this account: either in Detail,
where credits and debits are posted individually, or Consolidated, where credits and debits are
netted and posted as a single amount.
Control Account. Check this option to turn the account into a control account for one or
more subledgers. For example, if you have the Accounts Payable (AP) subledger, you would
create the AP control account, and the transactions from the AP subledger will be posted to
this account. Notice the subledger tab that appears when you select this option. This is where
you would choose the subledgers that would post to this control account.
Auto Allocation. Check this option to allow you to disburse amounts posted to this account
over other G/L accounts (when you use the Create Allocation Batch function). For example,
head office expenses could be allocated to different divisions. Notice the Allocation tab that