Part 1: Create A New Stock General Ledger Set

1. Start CAPITAL GL Controller, your general ledger.

2. Choose Maintenance|General Ledger Sets. The first set, which has the set code "0" should appear. If this is not the case, click Find and type 0 in the code field in the small dialogue box, then click Find.

3. Click Add to add a new general ledger set.

4. When the computer asks, Copy this record into a new record? Reply by clicking on Yes.

5. You will be prompted for the set code. Enter a code that can help you associate the set with its intended purpose. For example, if you wish to use this set to direct consulting services to a particular chart of accounts code, enter CONSULT and then press tab. (You may use any code you wish.)

Keep a note of the codes you use as you will need to refer to them again in step 2.

6. You will then be prompted for the set name. The set name is for your own reference and is not used by the computer. Enter a useful reference for yourself here. For example, "Sales of Consulting Services" and press tab.

7. You will now move to the general ledger set codes table. The debtors account should be highlighted. Press the down arrow key until you reach the account description "sales".

8. Change the default account code (with CAPITAL's sample company chart of accounts this is code 11000) to the code that represents the other sales activity related account.

You can click or press F12 to list your chart of accounts in a pop-up box.

9. Once you have selected or entered the account code you want for this new sales category, press Enter. Leave the C column field unticked to ensure that the entries posted against this account will not be consolidated.

Not consolidating will make reconciliations easier.

10. Click on save and go back to the beginning of step 1 and start again if you have more sales accounts to enter. Otherwise, proceed to step 2.

Part 2: Assign The Set Code To Your Product

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Related Topics:

General Ledger Sets - Tutorials