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Managing General Ledger Accounts and Subaccounts

This job aid contains instructions related to managing accounts and subaccounts in MYOB Acumatica.

Adding an Account to the Chart of Accounts

  1. Open the Chart of Accounts (GL202500) form.
    To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New.
  2. On the table toolbar, click Add Row.
  3. Click in the Account column of the new row to view the input mask for account identifiers.
  4. Enter the account in one of the following ways:
    1. The applicable scenario depends on whether the Validate check box on the Segmented Keys (CS202000) form is selected for the segment of the ACCOUNT segmented key:
      1. Select the segment value from the list of predefined values (if the check box is selected for the segment).
      2. Type a value for the segment here (if the check box is cleared for the segment). The system only validates the number of characters, and the type of string specified in the Edit Mask column on the Segmented Keys form for the segment.
  5. If needed, in the Account Class column, select the account class to which the account is assigned.
  6. In the Type column, select the type of account: Asset, Liability, Income, or Expense.
  7. If needed, in the Description column, briefly describe the account.
  8. If you want to use the account as a control account for a subledger, select this subledger in the Control Account Module column.
  9. If you have marked the account as a control account for a subledger but want users to be able to post to this account from the general ledger and other subledgers, select the Allow Manual Entry check box.
  10. If the users should specify the quantities and units of measure (UOMs), along with amounts, for each transaction to be posted to this account, select the Require Units check box.
  11. Select the Use Default Subaccount check box if you want the system to fill in the Subaccount column with the default subaccount for the account on the Journal Transactions (GL301000) form.
  12. In the Post Option column, choose whether to post transactions to this account in detail (Detail) or in summary (Summary).
  13. If needed, specify the external GL account (from the parent company's chart of accounts) in the Consolidation Account column to import the balance of the account in the consolidation process.
  14. If you need to denominate the account, select the currency in the Currency column, and specify the type of exchange rate in the Revaluation Rate Type column.
  15. On the form toolbar, click Save.

 

Creating an Account Class

  1. Open the Account Classes (GL202000) form.
    To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
  2. On the table toolbar, click Add Row.
  3. In the Account Class ID column, type the unique identifier for the account class.
  4. If needed, in the Type column, change the type of the class.
  5. In the Description column, briefly describe the class.
  6. On the form toolbar, click Save.

 

Specifying a Consolidation Account

  1. Open the Chart of Accounts (GL202500) form.
  2. Select an account of the parent company in the Consolidation Account column for each account that requires a specified consolidation account.
    You cannot specify the YTD Net Income account as a consolidation account.
  3. Click Save on the form toolbar.

 

Deactivating an Account

  1. Open the Chart of Accounts (GL202500) form.
  2. In the Search box at the top right of the form, type a text to search and review the results to find the account you want to deactivate.
  3. Click the row with the account you want to deactivate.
  4. In the Active column for the account, clear the check box.
  5. On the form toolbar, click Save.

 

Defining Segment Values for Subaccounts

  1. Open the Segment Values (CS203000) form.
  2. In the Segmented Key ID box of the Summary area, select SUBACCOUNT.
  3. In the Segment ID box, select the identifier of the segment to which you want to add a value.
  4. In the table, perform the following actions for each segment value to be added:
    1. Click Add Row on the table toolbar.
    2. In the Value box, type the code for the selected segment.
    3. In the Description box, type a brief description of the segment value.
  5. On the form toolbar, click Save.

 

Adding a Subaccount

  1. Open the Subaccounts (GL203000) form.
    To open the form for creating a new record, type the form ID in the Search box, and on the Search form, point at the form title and click New right of the title.
  2. On the table toolbar, click Add Row.
    The Subaccount column for the new row displays the input mask for subaccount identifiers.
  3. Create the subaccount by using one of the following methods, depending on whether the Validate check box is selected for the segment on the Segmented Keys (CS202000) form:
    1. If the user selects the Validate check box for the segment, the user should select the segment value from the list of predefined values.
    2. If you do not select the check box for the segment, type a value. The system will validate this value for only the number of characters and the type of string (specified in the Edit Mask box on the Segmented Keys form).
  4. Select the Active check box in the row of the subaccount.
  5. If needed, in the Description column, briefly describe the subaccount.
  6. On the form toolbar, click Save.

 

Deactivating a Subaccount

  1. Open the Subaccounts (GL203000) form.
  2. In the Search box at the top right of the form, type a segment value, and review the results to quickly find a subaccount.
  3. Click the row with the subaccount you want to deactivate.
  4. In the Active column for the subaccount, clear the check box.
  5. On the form toolbar, click Save.