How to Create a G/L Chart of Accounts

•The Fiscal Year in the Accounting Settings must be set to the current year not the year for which the accounts will be created. The program will read the current chart of accounts and will create a duplicate set for the new fiscal year.

•All G/L account information will be duplicated with the exception of any balance fields.

•The deactivated G/L account is Asset/Liability type and the carry forward expense for all periods is not '0';

•The Year End Carry Forward Pre-Commitments setting is ON and the deactivated G/L's carry forward pre-commitment is not '0';

•The Year End Carry Forward Commitments setting is ON and the deactivated G/L's carry forward commitment is not '0';

•The deactivated G/L is a parent with subordinates re-created in the new fiscal year.

•Locked accounts will be created in the new year and the locked status will be maintained.

•Once a new chart of accounts has been created for next accounting year, further modifications to current year’s G/L accounts will not be reflected in the new chart of accounts. When the Year End process is run, any accounts that could not be found in the new year will be re-created with the exception of some deactivated accounts (as noted above).

•The Create New Chart of Accounts process can be scheduled for execution at a different time.

1. Click on the Business tab, click General Ledger, and select G/L Chart of Accounts.

2. If applicable, in the Create New Chart of Accounts screen, select the Update Existing Accounts selection box. This option is applicable to accounts that are already established in the new year and allows synchronizing the G/L types (revenue/expenses, budget, parent, etc.) between G/Ls in current and new fiscal year.

Note: The Current Year field is defaulted to the current year the user is logged into and is read-only.

3. Click on the Process button to process immediately, or click on the Schedule button to select a date for the new chart of accounts to be processed.

Note: The last chart of accounts run can be seen in the Last successful run summary.

Then

Process is selected.

1. The new chart of accounts will process and the New Chart of Accounts process is complete.

Schedule is selected.

1. In the Schedule Job dialog box, click on the calendar icon to enter the Start Date.

2. Enter the time of day, using the chevrons to change the time.

3. Click on the Schedule button or click on the Cancel button to return to the previous screen.