To use your own accounts for the General Ledger posting, setup
each account number using a maximum of 10 characters.
This excludes the divisional code, which is in addition to the
Account Number.
The chart of account can be maintained in the Chart of Account
window in the "General Ledger" section on the Accounting tab
of the Configure System Settings.
An operator must be assigned a Security
Role that allows permission to the Accounting - Chart of
Accounts in order to access this table.
When using divisions, the software automatically separates the
entries into accounts and divisions.
i.e. Acct. 4000 Rental Revenue with three divisions automatically
becomes, 4000-1, 4000-2, 4000-3.
This means there is NO need for separate G/L accounts for each
division.
i.e. Acct. 4001 Rental Revenue Div. 1, 4002 Rental Revenue Div 2,
4003 Rental Revenue Div. 3, etc.
If your firm has several divisions contact Texada Support to
discuss how best to proceed.
To load your Chart of Accounts, manually enter each account number, with the description, and account type, the prompts are:
Integrated Accounting Setup:
When a third-party accounting application such as QuickBooks, MYOB
or Xero is configured in Integrated
Accounting, the SRM G/L Accounts much match up with the
accounts in the integrated accounting package.
Other third-party accounting applications such as Xero and MYOB - Essentials match the accounts by just passing all the existing SRM G/L Accounts to auto-add them in the integrated accounting package, through the Sync QuickBooks/Xero/MYOB Chart Of Accounts utility.
The MYOB - AccountRight application only matches G/L
Accounts prefaced with a #-XXXX with the Sync
QuickBooks/Xero/MYOB Chart Of Accounts.
i.e. 1-1000, 2-1101, 3-2000
Note: Once an account has been designated a Type and saved, the Type cannot be changed.
Check this box if the details of the account are to be
compressed.
Uncheck this box if the account details should never be
compressed.
Note: The setting of the Compress Details flag is not critical during start-up. This setting can be reviewed and changed at any time prior to running the compressions.
The compression of the General Ledger is done using Compress General Ledger.
The compression moves the current G/L detail from the selected
accounts to a General Ledger History File, so that compressed
information can still be accessed and printed, if necessary.
The compressed records are accessed using the G/L History options. After the compression, the current General Ledger is much smaller, making reports and inquiries faster.
Refer to Compress General Ledger for more details on compression and history.
Integrated Accounting Setup: -UNIQUE ACCOUNT ID
When integration with a third-party accounting application is
configured in Integrated Accounting, and the
SRM account description is updated to match the QB description by
the QuickBooks Account# Selection, this
Alternate Description field heading is renamed to “QB Account
ID”.
This description field is populated with the 'Internal ID' assigned
by QuickBooks.
If this field is blank, a window is provided to access the QuickBook Account# Selection and select an account
to link the QuickBooks account to the SRM GL account and to change
the SRM Description field to match the QB description.
The SRM/QB Accounts can be validated by clicking the VALIDATE button at the bottom of the screen.
Check this box if this is an Asset or Expense account that can
be included for a purchase on a P.O. when this non-inventory order
feature is activated.
Uncheck this box if this account should never be used for a
purchase on a P.O.
This Tax field provides the option to select a default Tax Code from the drop-down box to be associated
with this G/L Account when the account is assigned to a transaction
in the G/L Journals or in G/L Checks.
To change the default Tax Code on the G/L transaction the operator
must have Security Role to 'Change Tax
Codes' set in the "Document Field Access" window of the
Role Permissions.
Note: If the GL Account is a Tax GL Account and is assigned to a Tax Code, then this Tax field is not relevant and has been disabled for the record.
The PLRE account is used only after you have completed
your Fiscal Year End. Once you have determined your final Net
Income for the Year, this account is used to close out the Revenue
and Expense Accounts to Retained Earnings.
This should be the ONLY time which you post to this account.
Do NOT delete this Expense account.
Note: Generally these two accounts display at the bottom of the
Balance Sheet or Income Statement, however if your firm uses alpha
characters when assigning GL Account numbers and the statement
layouts are auto-generated in Generate
Statement Layouts, the PLNI & PLRE accounts may not be
positioned at the end as the utility will sort the accounts
alphabetically within type.
Once generated, the layouts can be manually modified to re-order
the accounts appropriately.
Use the "Pre-Loaded Chart of Accounts" only based on the
American Rental Association (ARA) model as listed below.
After copying the standard Canadian or U.S. Chart of Accounts, it
can then be customized to suit your needs.
Use the "Pre-Loaded System Set-up", which is modeled on the American Rental Association (ARA) suggested guide for business, and includes ARA Basic Chart of Accounts, ARA Product Classes, and all other necessary default parameters.
American Rental Association (ARA) basic Chart Of Accounts:
ACCT# DESCRIPTION TYPE ----- ----------- ---- 1000 BANK A 1100 CASH CLEARING A 1130 CASH ON HAND A 1135 PETTY CASH A 1200 ACCOUNTS RECEIVABLE A 1230 ALLOWANCE FOR DOUBTFUL ACCTS A 1240 MERCHANDISE FOR RE-SALE A 1250 PARTY MERCHANDISE FOR RE-SALE A 1270 G.S.T. PAID ON PURCHASES A 1290 PREPAID EXPENSES A 1300 RENTAL EQUIPMENT A 1301 ACCUM. DEPRECIATION -RENTAL EQUIP A 1400 FURNITURE & FIXTURES A 1401 ACCUM. DEPN - FURNITURE & FIX A 1430 VEHICLES A 1431 ACCUM. DEPRECIATION - VEHICLES A 1440 LAND A 1450 BUILDING A 1451 ACCUM. DEPRECIATION - BUILDING A 2000 ACCOUNTS PAYABLE L 2050 CUSTOMER DEPOSITS L 2060 ACCRUED ACCOUNTS PAYABLE L 2200 SALES TAX 1 L 2210 SALES TAX 2 L 2220 EMPLOYEE DEDUCTIONS PAYABLE L 2290 CORPORATE INCOME TAXES PAYABLE L 2300 NOTES PAYABLE - BANK L 2999 SUSPENSE L 3000 CAPITAL STOCK L 3200 RETAINED EARNINGS L 4000 RENTAL REVENUE R 4030 PARTY RENTALS R 4090 SALE OF RENTAL EQUIP. R 4100 MERCHANDISE SALES R 4110 PARTY MERCHANDISE SALES R 4150 CLEANING INCOME R 4160 DAMAGE WAIVER INCOME R 4170 DELIVERY INCOME R 4180 FUEL INCOME R 4190 LABOR & REPAIRS INCOME R 4210 PURCHASE DISCOUNTS R 4200 FINANCE CHARGES INCOME R 4500 COST OF RENTAL EQUIPMENT SOLD X 4510 COST OF MERCHANDISE SOLD X 4520 COST OF PARTY MERCHANDISE SOLD X 4800 RE-RENTAL EXPENSE X 4810 REPAIRS & MAINTENANCE TO EQUIP X 4820 FREIGHT EXPENSE X 4830 SALES DISCOUNTS & ALLOWANCES X 5000 WAGES & SALARIES X 5030 EMPLOYEE BENEFITS X 6000 ADVERTISING & PROMOTIONS X 6020 BAD DEBTS X 6040 BANK CHARGES & INTEREST X 6080 CASH OVER/SHORT X 6090 CREDIT CARD DISCOUNTS EXPENSE X 6100 DEPRECIATION EXPENSE X PLNI PROFIT/LOSS NET INCOME L PLRE PROFIT/LOSS RETAINED EARNINGS X
To delete a General Ledger account, click the
DELETE button and select the account to be deleted as
outlined in Delete A G/L Account.
This program ensures that the account is NOT used somewhere in the
software system before it can be deleted.
If the account is identified as active, it needs to be replaced
with another account number in the areas and tables where it is
shown as in use.
Print the Account List:
Click the REPORT button to generate a list of the
accounts as outlined in Chart of Accounts
Listing.
Validate QB Accounts:
The VALIDATE button is only present when QuickBooks,
MYOB or Xero integration is enabled in Integrated Accounting.
Click this button to launch the Chart Of Account
Validation utility (QB_ACCT4) to confirm that the chart of
accounts in SRM matches the Chart of Accounts in QuickBooks, MYOB
or Xero.
If there is a discrepancy between the Chart of Accounts in SRM and
the chart of accounts in the third-party accounting application the
table lists the accounts in SRM that do not have corresponding
account or where the names have changes or are duplicates.
After correcting the accounts in SRM run Sync
QuickBooks/Xero/MYOB Chart Of Accounts to re-sync the accounts
in the Chart of Accounts in SRM to update the accounts in
QB/Xero/MYOB Chart of Accounts where SRM is the Master list.
The option is provided to auto-add missing accounts to the
QB/Xero/MYOB Chart of Accounts using the SRM chart of accounts.
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