General Ledger Sets - Tutorials

This section offers a step by step practical guide on how to set-up general ledger sets.

Managing Multiple Bank Accounts In Your General Ledger

Since one of the most common requirements for setting up a "GL set" is when you need to work with multiple bank accounts, this section focuses on this issue.

This tutorial assumes you have already entered all your additional bank accounts onto your chart of accounts. If this has not been done, go to general ledger codes under the maintenance menu and do this first.

In order to set-up multiple bank accounts you will need to enter the bank account code and its related details into the install program in CAPITAL and into the general ledger set table.

Part 1: Creating General Ledger Sets

Part 2: Creating Bank Accounts/Cashbooks

Managing Multiple Sales Accounts

Often it is very useful to be able to set-up multiple sales accounts in your general ledger and have sales related to certain product codes in your stock control system automatically update certain accounts. For example, if you may wish to distinguish between product sales and sales of special services, or item codes that are used to represent discounts or rebates or other special situations.

For example, your chart of accounts might look like this:

11010 Sales - Product Group A

11020 Sales - Product Group B

11030 Sales - Consulting Services

Whenever you invoice product ABC, you require that account 11030 is updated instead of any other sales account in your general ledger.

Part 1: Create A New Stock General Ledger Set

Part 2: Assign The Set Code To Your Product