How to Process Chargebacks › Create GL Accounts

Create GL Accounts

Verify that an entity exists before creating GL accounts. After creating a GL account, you can edit the account. You can delete a GL account not referenced by any cost plan or transaction.

Follow these steps:

1. Open Administration, and from Finance, click GL Accounts.

   The GL accounts list appears.

2. Click New.

   The create page appears.

3. Complete the following fields:

   Main Account ID

   Defines the first part of the natural account number.

   Sub Account ID

   Defines the second part of the natural account number.

   Entity

   Defines the entity associated with the GL account.

   Account Type

   Defines the account type used for classifying accounts.

   Values:

   • Asset
   • Liability
   • Income
   • Expense

   Is Active

   Indicates if this account is active and available for assigning to cost plans.

   Overhead

   Indicates if this account is used to charge any costs to designated departments. If selected, be sure to create overhead rules.

   Capital Expense

   Indicates if this account is used for capital expense.

   Noncash Expense

   Indicates if this account is used for noncash expense.

4. Click Save.

More information:

Entities

About General Ledger Accounts