Account Codes

Account codes are account number segments within the account number structure that are required before you can create accounts. During the account setup process, you defined the code length. Now, under General ledger, Settings, GL setup, Account codes, you can view and define the codes to use.

Tip: After you add account codes, you may find it useful to export them. By exporting, you can view and use account code descriptions, report categories, and account types (contra or control) in a more flexible way.

  1. Under Account codes, select Add.

  2. Enter a new account code and its description.

    Here are a few tips to ensure accuracy:

    • The first digit of the account code determines the account code category. Make sure the new account code falls within the correct account code category.

    • The code you enter should be the correct account code segment length. For example, if your account code segment length is six digits, the code range you enter must be six digits.

  3. Specify its type of account:

    • Control account - displays information summaries when you display account activity and balances on reports. Using control accounts allows you to post transactions and entries in detail. Examples of control accounts are accounts payable and accounts receivable summary accounts, as well as cash accounts.

    • Contra account - has the opposite normal balance of the accounts they represent. For example, a contra asset account, such as accumulated depreciation, has a normal credit balance whereas an asset account has a normal debit balance.

  4. Under Cash flow, select a cash flow type to categorize asset, liability, and net asset accounts on cash flow reports.

  5. Under Working capital, select a working capital to categorize asset, liability, and net asset accounts on the working capital report.

  6. Specify a Class, such as Unrestricted or Temporarily Restricted Net Assets.

  7. To store additional information for the account code, select Add custom field.

    Select a field and its value, and enter a date with relevant comments.

  8. After you enter details for the new account code, select Save.

Under Account codes, you can edit the details of an account code, such as its description or report classification. To edit an account code, select Edit from its menu , adjust the information as necessary, and select Save.

Tip: You can edit account codes at any time, as long as the new code remains in the same category.

Under Account codes, to remove an account code, select Delete from its menu , then select Delete when prompted.

Note: You can delete account codes if no accounts currently use that code.