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creating ledger accounts

Creating a new ledger account at the posting level will automatically create all the necessary Parent accounts.

Steps

1.	General Ledger Maintenance
2.	New Record
3.	Type in the accountnumber and description
4.	Short Cut is not used and is populated when the form is saved
5.	Select relevant Category
6.	Change sign if required
7.	Select Class from the drop down box. The options are:
	Normal - except for Retained Earnings and Bank Retained Earnings - only one account should be set as Retained Earnings and this account is used to post undistributed profits and losses at the Yearly Roll Over Bank - ledger bank accounts. Only these accounts are displayed for selection in forms like Cash Receipts, Cash Payment, Bank Reconciliation and cheque payments
8.	Save the new account

If the parent account has been created first, creating child accounts results in the message:

“About to take all transactions and period balances from account 2350-100-00. Proceed with change?”

Where the account number is already recorded, a message will display:

“Account number already on file.”

Posting Details