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Creating General Ledger Accounts

To create a new general ledger accountThe general ledger will normally include general ledger accounts (GLAs) for items such as income, expenses, assets, liabilities, and reserves.:

1. Click the General Ledger Accounts tab.
2. Click New next to Recent General Ledger Accounts on the home page.
3. Specify a name and reporting code.
4. Specify a currency to use with this general ledger account. This is normally the same as your home currency.
5. Select a type of general ledger account from the drop-down list. See the list of related topics for more information.
6. [Optional] Choose which GLA group the account belongs to: Accounts Receivable, Accounts Payable, Cash or None. Periods can be closed to some GLA groups but left open for others. If you prefer not to use GLA groups, a period will be open to all general ledger accounts until you select its Final Close checkbox.
7. Set up a reporting hierarchy. See What is a Reporting Hierarchy? for more details.
8. [Optional] In the Cash Flow Analysis section, enter default values used to adjust and group data on a statement of cash flows report. See Setting up a Statement of Cash Flows for more details.
9. When you have finished, click Save. You can also click Save & New to save the changes to the current record and then immediately begin to create another.

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