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Notes regarding changes |
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 Account number |
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You cannot change the account number. |
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To assign a new account number, you must add an account with the new number, transfer any account balances, make the old account inactive, then delete the account when it no longer contains account data for the period that you retain history. |
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Account type |
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You cannot change the type of an account that is specified as the Default Closing Account in the G/L Options form. To change the type for that account, you must first specify a new default closing account. |
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Changing an income statement type account to a balance sheet type account will cause problems in your General Ledger if you post batches to a prior year for the account. |
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Default Closing Account |
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This is the account to which the Create New Year form closes all income and expense accounts that are not specifically assigned to another retained earnings account. |
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If you have multi-segment account numbers, you can close income and expense accounts by segments, and assign a separate retained earnings account to each segment code, using the G/L Segment Codes form. |
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For example, you can do year-end closing by the department segment, and assign a different retained earnings account to each department in your company. If any department lacks a retained earnings account, General Ledger uses the default account you enter on the Account tab of the G/L Options form. |
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If you have single-segment account numbers, you can specify particular account numbers as the closing accounts for each of the accounts in your ledger. |
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You can change the default closing account before or after doing year-end closing. |
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Account group |
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You can change the account group in an account record at any time. |
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You can turn account groups on or off in the G/L Options form at any time. Any accounts that are added when account groups are turned off will belong to the Unclassified Account Group. |
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Allocation option |
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You can change the information on the Allocation tab of the form at any time. |
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Multicurrency option |
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You can turn this option on at any time, if you have installed the Sage Accpac Multicurrency module. If you select the option for an account, you can post transactions to the account in more than one currency. |
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Once you turn on the option, you can specify that the account accepts transactions from all currencies defined in Common Services, or from specific currencies only. |
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Quantity option |
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You can turn the Maintain Quantities option on at any time. |
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Control Account option |
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You can turn this option on at any time. |
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You can add ledgers to the subledgers list if you use the account for more than one subledger. You can only post transactions from the specified subledgers. |
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