Account codes are used to determine which General Ledger accounts the information pulls from and which General Ledger accounts the information will post to when using the “Create G/L Entries”. This is also where the “Default Class when importing G/L Entries” is defined. The default class may be overridden, but the asset account, Accumulated Depreciation, and Depreciation Expense accounts always apply to assets that are given this particular Account Code.
Code |
Can be up to 4 characters long, either alpha or numeric. |
|---|---|
Description |
Short description for account code. |
Asset Account |
G/L (General Ledger) Asset Account number, used when creating G/L entries, when running the G/L Verification Report, and when Importing from G/L. Only asset accounts defined in Account Codes will be looked at when importing assets. |
Accumulated Depreciation |
G/L (General Ledger) Accumulated Depreciation account number, used when creating G/L (General Ledger) entries and running the G/L (General Ledger) verification report. |
Depreciation Expense |
G/L (General Ledger) Depreciation Expense account number, used when creating G/L (General Ledger) Entries. |
Impairment Expense |
Gives the ability to impair the value of an asset. |
Default Class when importing G/L (General Ledger) entries |
Used when Importing from G/L. The class will be automatically assigned if this is filled in, or it can be left blank. |
Monthly Entry Description |
Specify the description on the GL Entries. |