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
SubHeader Account - The second account assigned in a group
that creates a sub total for that level on the financial
Detail Account - The account where the monies will display.
Once the MCOA is completed, create your ACOA for the year.
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