How do I add a new General Ledger account?

Financial Information System > General Ledger > Chart of Account Maintenance (GL0018)

Enter the “Account #“ (based on your format), press tab.  A default “Description” will appear - you have the ability to enter your own description in the field, press tab. Select the appropriate check box to determine where this account can be used (see description below). Indicate “Account Type:” Asset, Liability, Revenue, or Expense and “Status:” Valid, Not Valid and a Not Valid Date, Inactive, System Controlled, or Budget Control – see below.

Chose a check box: 

Valid Cash Account: Select this box (X) if this is used when you are setting up a new bank account (from which checks will be issued), contact us for more information when you open a new bank account.  You would also need to set up a new bank code which would be used in conjunction with the Check Code field.  

Valid P/R Account:  Select this box (X) if this account number is valid for Payroll.  (This field must be checked if you are using the KEMS module and the account will be used in Payroll. If this is not checked, you will receive an error when you try to use the account in Payroll. There is also a possibility that you will receive an error when you run the calculate Payroll in the KEMS module.)

Valid Req Account:  Select this box (X) if this account number will be used in the Requisition System (if applicable). (This is used to prevent accounts being entered into requisitions that do not have that flag set.).

Status:

• Valid: An account that will receive normal accounting transactions.
• Not Valid: An account that will not have accounting transactions posted to it.
• Inactive: An account that is no longer in use. This may be an account that is no longer being used; but, is maintained on the system for historical data comparisons or queries. In addition, the account may be made inactive to prevent transactions being posted to the account. You may use this status for new accounts that will be used in the Budget Entry area.
• System Controlled: These accounts are used by the system. They are updated by the system; but, are inaccessible to the user. An example of this type of account is the “Expense Control Account” which is used by the system to generate a portion of the changes in the fund balance for the year.
• Budget Control:  This account is set to use Budget Rollup. If Budget Rollup is used you can include in the accounts that roll up any account(s) with Status Budget Control and the only activity that can be posted to these accounts are Budget Transactions. You cannot post Requisitions, Purchase Orders, or Debit/Credit transactions to accounts with a status of Budget Control.

For additional information, please refer to our General Ledger user manual.