How to Modify a G/L

General Considerations:

•The G/L Account # cannot be modified.

•The G/L account Description may be changed.

•Alias # can be changed using the G/L Element Builder.

•Data entered in the Budget Variance (%) field determines the percentage the account is allowed to go over budget, before the over budget warning is displayed during data entry.

•Account Types:

•Budget type is used for selection purposes in Reports. Once an account is flagged as a Budget account, the Budget Parent section will be displayed. Any data entry on an account flagged as Budget account will initiate the budget checking process and associated messages.

•Parent type is used for selection purposes in Reports. When an account is flagged as Parent, the Budget Parent section in the G/L Add screen is not visible. Restrictions for changing a Parent type: To select the Parent type, an account must be independent, a Budget account and have no transactions against it. To deselect the Parent type, the account must have no subordinate accounts.

•Revenue or Expense type plays a significant role in year end reporting. It is also used for selection purposes in Reports. A checked box indicates that the account is either a Revenue or Expense account. An unchecked box indicates that the account is either an Asset or Liability account. During the year end process, all accounts flagged as revenue/expense will have their revenue balance cleared to zero in the new year. The net total of all revenue and expense accounts are posted to the surplus/deficit account.

•Payroll type is used to identify a Payroll Account for the purposes of integration.

•Fixed Asset type is used to identify a Fixed Asset Account for the purposes of integration.

•Work Management type is used to identify a Work Management Account for the purposes of integration.

Use the following steps to modify a G/L:

1. Click on the Business tab, click General Ledger, and select G/L Account Management.

Note: The Session Accounting Year field will display the current year the user is signed into.

2. If known, enter the Account Number.

3. Click on the Search button. The G/L account will be retrieved in the grid.

Note: If necessary, perform an advanced search. Refer to Advanced Search for more information on this section.

4. Click on the Action drop-down menu beside the corresponding G/L account and select Modify.

5. If applicable, in the G/L Edit screen, update the Description.

6. If applicable, in the Alias field, click on the Search icon to update the alias information. The G/L Element Builder will be displayed.

7. If applicable, update the HST Code.

8. If applicable, enter or update the Budget Variance %.

Note: The Account Status Active and Locked selection boxes are read-only.

9. If applicable, in the Account Type section, select or deselect any of the following selection boxes: Budget, Fixed Asset, Parent, Payroll, Revenue or Expense, and/or Work Management.

Note: Refer to the General Considerations above for more information on the Account Type options.

If the Budget selection box is selected the Budget Parent section will be displayed.

10. If applicable, enter or update the Budget Parent or click on the Search icon to search for a G/L Account.

Note: Refer to How to use G/L Search Wizard for more information on how to use this feature.

11. Enter a note in the New Note field.

Note: Notes entered in this field will be saved and may be viewed in the Notes History section and are read-only.

12. Click on the Save button to complete the process or click on the Cancel button to return to the G/L Account Management screen without saving changes.