Chart of Accounts

OBJECTIVE

The Chart of Accounts function is used to create the chart of accounts in the general ledger.

 

PREREQUISITE 

• Account Groups

 

Steps

maestro* > Accounting > Maintenance > Accounting > Chart of Accounts

 

Create an account

1. Enter the required information in the Main Fields tab:

The Configuration icon is used to define entry options for the Number field. Fields followed by the * character are mandatory fields.

 

Field	Description
Number*	Number that identifies the general ledger account. If the record already exists, the system displays the data already entered for the account.
French Description	French description that identifies the account.
English Description	English description that identifies the account.
Group Code*	Group code for the financial statements from Account Groups.
Type	Type of account. The account type is used to search using the G/L Account field and only displays accounts affected by the option in question. Available values: –Various Account available on all screens. 0-Bank Used to display bank accounts only when creating a new bank. 1-AP Used to display accounts payable in reports and transaction entry. 2-AR Used to display accounts receivable in reports and when entering transactions. 3-Purchase Used to display purchase accounts available in options involving purchases. 4-Sale Used to display sales accounts available in options involving sales.
Status	Available values: Accessible Account available on reports. Inaccessible Used to make the account inaccessible. When transferring a transaction involving an Inaccessible GL account, the system will display a warning message to the user, and will not process the transfer. The user can change the account in question and re-submit the transfer. NOTE: The account is not included in the List of Accounts or List of Groups. NOTE: You cannot delete accounts to which transactions are still linked.
Access Level	Used to determine a level of security for access to the account in searches that involve selecting a general ledger account. NOTE: Access levels apply to the following locations: analysis of general ledger transactions, disbursement journal and all reports in which a bank account is entered, journal entry changes and reconciliation. Available values: Without security Account accessible to all for searches involving general ledger accounts. Administrator Account accessible to users if the user group is specified as administrator only. Regular Account accessible to users if the user group is specified as regular only. Security group Account accessible to users if the security group matches the value entered in the Security Group Code field.
Security Group Code	Used to identify the security group code that will have access to the account if the Access Level field is defined as security group in Security Management. NOTE: The access level must be G.
Currency	Identifies the currency of the account. NOTE: The currency is used in transactions involving Currency Management and while Preparing the Direct Payment File to identify the currency of the bank account if the financial institution requires this.
Supplier Code	Supplier code from Supplier Management used to generate and make automatic tax remittances using the List of Taxes Collected/Paid report.
Grouping Code	Group code from Account Grouping Configuration. The group is one of the selection criteria for printing the List of Taxes Collected/Paid report. For example, if you assign a common group code to a series of General Ledger accounts linked to similar taxes (i.e. GST), you can select the same group when printing the report for a report that only includes transactions linked to the tax codes in the group.

1. Default values for the G/L and financial statements section:
   This section is used to identify a project, activity and group used as default values that will be copied to all transactions for which no project could be identified in the transaction.   (For example, a sales discount, purchase discount, etc.).
   As a result, it will be possible to include these transactions in the financial statements by project.
2. Import using the advanced project-to-project transfer section:
   This section is available if the Perfect Payroll interface is installed.
   This section is used to identify a project, activity and group to be used when importing transactions from Perfect Payroll into maestro*.
3. Click Save.

 

See also

• List of Accounts
• List of Groups
• Currency Management
• Account Grouping Configuration
• List of Taxes Collected/Paid
• Security Management
• Supplier Management
• Prepare Direct Payment File

 

Last modification: November 12, 2024