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Entering Account Codes This section serves as an introductory tutorial covering the basic operations of the general ledger. By this stage it is assumed that you have decided to use one of the sample charts provided with this product, which you may wish to edit, or you will construct a completely new chart of accounts from scratch. The topics covered here include: 1. How to add, edit and delete chart of account codes. 2. How to check your chart of accounts as well as basic guide-lines on constructing charts of accounts. 3. Enter journal entries such as opening balances into your chart of accounts. 4. The process of "posting" to the general ledger. This means updating the balances of your accounts once you have entered journals. 5. Printing a trial balance to check your work. From the main CAPITAL GL Controller menu choose: Maintenance|General Ledger Codes. A screen similar to the following will appear (the account code details may vary):
Click addto add a new account code, or use the up and down arrow keys to move through the list of available codes in account code sequence and then click edit to edit any codes you need to change or delete to remove them. You will only be able to remove codes that have not yet had balances posted to them. Scroll the up or down arrows on the right hand side to find a particular code or clickfind,a dialogue box will appear, enter the code you wish to find and click ok. You can search for an account based on its code or its name. For information on how you should set-up your account coding scheme see: Account Codes Once you have entered a suitable account code and a description for that account you must specify the account type in the account type field. Move to this field by using the mouse or pressing tab. Once your cursor is positioned on this field, you can click on thescroll bar to display a list of available account types. Once you think you are satisfied with the account codes you have added, deleted or changed it is useful to get a report listing the details of the chart. Exit general ledger account code maintenance by pressing Close. Choose Reports|Chart List. The following screen will appear:
Click Ok to accept the defaults (first and last account codes in chart). You will then be given the option to select "printer", "file" or "preview". Have your printer ready and select printerfor print. Check the printed report and then go back and make any corrections you need to until you are satisfied that the chart is correct. If you wish to use "the quick report writer" your chart should be divided into the following sections: 1. Sales 2. Other income (optional) 3. Cost of sales (optional) 4. Opening stock (optional) 5. Closing stock (optional) 6. Purchases (optional) 7. Operating expenses 8. Appropriations - distribution of profit plus income tax. 9. Current assets 10. Fixed assets (optional) 11. Current liabilities 12. Non-current liabilities (optional) 13. Capital/shareholder/proprietor equity Note that you should have a chart of account code or codes for cost of sales, or, the appropriate codes for opening stock, purchases, and closing stock. You should specify one or the other, but not both. For more information on how to set up your chart of accounts to manage your stock, see: Advice On Stock Control.
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For hints and tips on altering your codes consult the
topic:
