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| Accpac tip about Accounting and I/C, O/E, P/O |
Week |
July week 1 2011 |
Subject |
Setting Up General Ledger |
Details |
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Take the following steps to set up General Ledger.
Step One: Install the General Ledger application program from the DVD.
The General Ledger program is installed like other standard Windows programs: if the installation screen does not appear when you insert the DVD, run Setup.exe from the DVD.
Step Two: Activate the application for your database.
This step adds the database tables required by the General Ledger application. Click the Data Activation icon in the Administrative Services folder to start the activation.
Activation requires the following information:
• The current fiscal year.
• The starting date of the oldest fiscal year for which you want to keep data.
Make sure you enter the starting date for the first period in your fiscal year. For example, if your year starts in April, specify April 1 of the first year that you want data.
General Ledger creates a calendar for the year before the oldest year you specify, so you can post the opening entries for the oldest fiscal year.
Step Three: Select the various configuration and processing options you require.
If you are setting up a new company, use the Setup Wizard to guide you through the options you need, including whether to use the sample chart of accounts shipped with General Ledger, whether to use account groups, how many account segments to use, what account segments to use, whether to print batches before posting, whether to allow posting to previous years.
This step uses the G/L Setup icons in the General Ledger program.
• Choose the Options icon first to select basic processing options and define all the segments used in your General Ledger account numbers.
• Choose the Segment Codes icon and the Account Structures icon to further define how you will structure your chart of accounts.
• Choose Source Codes and Source Journal Profiles to define source codes and reports for sorting and printing the details of posted transactions.
• Choose Account Groups to assign accounts to groups.
• Set up recurring entries, revaluation codes, and optional fields.
• After adding segment codes and then account structure codes, open the G/L Options form to include the default structure code on the Segments tab.
Step Four: Add accounts.
If you created your database using the Setup Wizard and chose a sample chart of accounts during that process (or chose a chart of accounts you created), you can now edit any accounts needing changes, as well as add new accounts.
If you did not choose a chart of accounts, you now add your accounts, using the Accounts form in the G/L Accounts folder.
Step Five: Add historical data.
In General Ledger, you must enter at least the year-to-date balances in each of your ledger accounts.
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