Account Balances File Maintenance

Use this function to perform normal file maintenance on the Chart of Accounts (similar to Chart of Accounts File Maintenance) and, in addition, in Initial Setup only, to enter/edit account balance information by fiscal year. These balances include monthly, SOY (Start of Year), EOY (End of Year), Source, Use, and Neither amounts for each fiscal year.

The Chart of Accounts Screen, shown in Figure 5-7 below, appears when you select Account Balances from the Holding Files Pulldown Menu. You normally enter this function in Inquire mode but you can change mode by using the mode icons on the toolbar or the mode function keys. Since Change mode places a hold on the selected record, use Change mode only when you intend to change data. If desired, in key entry, you can click on or press the Scan key to review the records currently on file and select one for editing or viewing.

Figure 5-7. Chart of Accounts Screen

This screen contains the following fields grouped by sections.

Basic Account Information

Account

Enter the number for this account, up to 12 characters in length. This number will be used in all accounting applications to identify this account. Note that this field can contain alphanumeric characters even though it is generally referred to as the account number.

Description

Enter a description for this account, up to 30 characters in length. The account description normally appears beside the account number whenever it is displayed on other screens and reports.

Rev/Exp?

This field controls whether or not the account is treated as a Revenue/Expense account. Select "no" or for a Balance Sheet account (which, when changed, will not impact Current Earnings). Select "yes" or for a Revenue/Expense account (which, when changed, will impact Current Earnings). The initial default is "no".

Currency

If applicable, enter the currency code for the account, up to 6 characters in length; otherwise, leave this field blank. If entered, this code must be on file in the Exchange Rates file. You can click on or press the Scan key to find an appropriate entry. The system displays the currency description so that you can verify your entry.

Currency code identifies the currency in which the account balances are maintained. For each record that is entered with a non-blank currency, an equivalent record must be added to the Foreign Accounts file thru Foreign Accounts File Maintenance, since each foreign balance amount is maintained by the system in both foreign and home (domestic) currency amounts. An example of an account with a currency code might be "Cash, Canadian".

Classifications

Application Type

Enter up to two uppercase letters, such as AP, AR, FA, GL, IC or PA, or leave blank.

Application Type is used to validate specifying this account number within a given application. This is accomplished by comparing it against the OK Application Types defined in the Parameters file for that application. For example, you might define your revenue accounts as having an application type of "AR", for Accounts Receivable, and your expense accounts as having an application type of "AP", for Accounts Payable. If the Accounts Payable Parameters file included "AP" as an OK Application Type, but not "AR", the system would prevent you from inadvertently entering a revenue account on, say, an Accounts Payable invoice. At the same time, as long as General Ledger included both "AR" and "AP" as OK Application Types in Parameters File Maintenance, journal entries could be made to either revenue or expense accounts.

Heading?

Select "yes" or if this account is a heading account; otherwise, select "no" or . The initial default is "no".

Heading accounts are used to format financial statements, and for separating accounts on the Trial Balance Report and Chart of Accounts List. They contain no actual data and will never have any amounts posted to them. An example of a heading account might be "Current Assets".

Summary ?

Select "yes" or if this account is a summary account; otherwise, select "no" or . The initial default is "no".

Summary accounts represent the total, or sum, of a grouping of other account balances. They will never have amounts posted directly to them; they are updated only during Process Initial Setup or when the 'Summarize Accounts' function is run in Live Operations. An example of a summary account might be "Total Expenses", which could be defined as the sum of all expense accounts.

You must also enter summary accounts in Summary Accounts File Maintenance.

Level of Detail

You have the following options for the Level of Detail fields for MTD, YTD, and Future (referring to the MTD Postings, YTD Postings, and Future Postings files respectively):

These options are listed in order of "least detail" to "most detail". All entries containing an intercompany code or a subsidiary code will be kept in detail. Also, be sure to keep at least as much detail in the Future Postings file as you want to maintain in your MTD and YTD Postings files for a given account.

MTD

Click the list button to select the level of detail to be kept in the MTD Postings file as defined above. The initial default value is "All". "None" is not a valid option for this file.

YTD

Click the list button to select the level of detail to be kept in the YTD Postings file as defined above. The initial default value is "All".

Future

Click the list button to select the level of detail to be kept in the Future Postings file as defined above. The initial default value is "All". "None" is not a valid option for this file.

Posting Information

Subsidiary Type

If applicable, enter up to two uppercase letters for the cost accounting subsidiary to which this account is posted; otherwise, leave this field blank. If this is a General Subsidiary account, enter "GL". See General Subsidiary in Chapter 1 of this manual for more information.

Delete Sub Post Detail

For accounts with Subsidiary Type "GL" only, this entry indicates how often General Subsidiary detail postings are deleted from the Subsidiary Postings file. If applicable, click the list button to select one of the options listed below; otherwise, leave this field blank.

Note: An entry of "This Month" in this field will be reset to "Never" after the detail has been deleted.

Level of Divisionalization

When implemented, this field will provide for divisionalized accounting by appending account components from the offset account to the primary posting account. This feature has not been implemented.

Press ENTER or click or the Save button to save the information for the current record. If any information has changed, the system may redisplay the screen to show any new or changed system-supplied items or to report any error or warning messages. If so, the current record has not yet been saved; you must address any concerns and press ENTER or click or the Save button again. To exit without saving, press END or click or the Cancel button.

When you save a record, the system will automatically present the Account Balances Overlay; otherwise, click on the Balances button to access it (which first saves the current record if applicable). However, if the account is a heading account, this overlay does not apply and will not appear.

The following icons are also available for use on the toolbar (unless disabled in Add mode or until a record has been selected):

List Chart of Accounts: See Chart of Accounts List for further information.

Display Account Audit Info: See Audit Info for further information.

Click the appropriate icon to perform the desired operation (which first saves the current record if applicable), after which you will return to where you are.