HOW TO SETUP THE MASTER COA

FMS Knowledge Base > Visual LOADPlus FAQ's > General Ledger
 
THE ACCOUNT STRUCTURE LISTED BELOW IS REQUIRED

          GENRAL LEDGER ACCOUNT STRUCTURE

    TITLE                    RANGE        SIGN      TYPE

   ASSETS                100000-199999     +        Balance Sheet
   LIABILTIES            200000-299999     -        Balance Sheet
   EQUITY                300000-399999     -        Balance Sheet
   INCOME                400000-499999     -        Income
   COST OF SALES         500000-599999     +        Cost of Sales
   OPERATING EXPENSES    600000-799999     +        Expense
   OTHER INCOME          800000-899999     -        Other Income
   OTHER EXPENSE         900000-999999     +        Other Expense



A sample Master Chart of Accounts (MCOA) is included in
your system.  Please review and edit prior to creating
your general ledger year.  
You are able to edit or delete all accounts other than 
the control accounts.

Type & Level control the format of the financial reports.

The type field controls the sub-totaling of a group of accounts. 
Each change in the account type will cause a subtotal to be printed. 
Types are listed above. The system will assign the type when created 
based on your general ledger 
number.  Within each account the user may further define 
the type.  Ex: First Banking is created as a type of balance 
sheet asset.  If you edit this account you may then choose 
the type of bank. 

Levels are:  Control - Header - SubHeader and Detail.

 Control account - The first account in each level.
 
 Header Account - The first account assigned in a group
 that creates a total for that level on the financial
 statements. 
 
 SubHeader Account - The second account assigned in a group
 that creates a sub total for that level on the financial
 statements.

 Detail Account - The account where the monies will display.

Once the MCOA is completed, create your ACOA for the year.

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