Create Individual General Ledger Account Records

You can theoretically create your entire General Ledger structure by manually entering Account records on the Account tab. However, in practice, there are several automated methods for creating new accounts that greatly reduce the effort and potential errors that may result from the data entry process.

• Virtually all General Ledger Accounts are initially created by the Autobuild G/L Accounts utility in the Fund Management module (either during implementation or when you create a new Fund record). Refer to Autobuilding G/L Accounts in the Fund Management module for more information.

• You can also use the G/L Account Mass Add / Delete utility in General Ledger to add a new account to an entire Class. Refer to Mass Adding/Deleting General Ledger Accounts for more information.

• All active accounts are automatically reproduced in the General Ledger for the new year when you run the G/L End of Year Closing utility. Refer to Performing End of Year Closing for more information.

Even with these automated processes, you may occasionally need to manually create an Account record (for example, a unique asset account for a Fund that owns a work of art). You can add these records via the Account tab.

Note: IMPORTANT: Before you create the Account record, you must create a Master Chart account record for the new account. Enter a Natural Account number, an Account Type, and a Description, but do not assign any Fund Classes on the Master Chart record. This Master Chart record acts as an important placeholder to indicate that the account number is in use. Refer to Maintaining the Master Chart of Accounts for more information.

1. In the General Ledger module, click the Accounts supertab, and then click the Account tab.

2. Click the New button on the toolbar.
   Account Tab (New Account)
   

3. In the fifth segment of the G/L Account key, enter the Fund ID for the Fund that you want to add the Account record to.

4. Press the Tab key on your keyboard to move your cursor to the sixth segment field. The first four segments are automatically populated based on the Fund ID you entered.

5. In the sixth segment of the G/L Account key, enter the Natural Account Number.

6. Verify that the correct Account Type and Description flow in from the Master Chart record that you created, and then click the Save button on the toolbar.