Define Account Structures - the Define Tab

Here you define new account codes. Account codes have to be defined in order to create forms.

You can define the following:

  • Account codes and account names.
  • Account types, for example income account or cost account.
  • The number of decimal places the account uses, if it is a statistical account.
  • Whether the account is used for intercompany balances and if so, whether counter dimensions should be used.
  • Whether the account is used for internal or external shareholdings.
  • Whether the account should contain a comment and if it is mandatory to enter it.
  • If the account is a calculation type account, either a calculation account or an advanced formula calculation account.
  • Whether the account is used when copying reversing/non-reversing company journals.
  • Reconciliation rules with other accounts.
  • Currency translation method.
  • Whether the account is divided into extended dimensions and if so, at what level.
  • Summation rules.
  • Account description, for example how the account should be used.

Procedure

  1. On the Maintain menu, click Account structure/Define. The Define Account Structure window opens.
  2. On the Define tab, click the New button to add a new account. All fields are cleared for entry.
  3. In the Code text box, enter the account number. The code can include no more than 13 characters.
  4. In the four Name and Short Name text boxes, enter the full and short names of the account in both group and local languages. Name can include no more than 50 characters and Short Name no more than 20.
  5. In the Account type text box, enter the relevant account type code.
  6. In the Decimals text box, specify how many decimals should be allowed at data entry for the current account, if this is a statistical account.
  7. In the Intercompany Code text box, enter the relevant intercompany code if the account is used for intercompany balances.
  8. In the Investments text box, enter a code that defines whether the account is used for investments in group companies or external companies. The two codes are:
    • I: Group Companies
    • E: External Companies

    The I code enables the use of investment elimination templates.

  9. Select the relevant account properties. For more information about Account Properties, see Account Properties.
    Note: Movement Account cannot be selected.
  10. Select relevant options for copying journals the alternative way.
    • Select Non-reversing Journals to copy the account according to the alternative rules for non-reversing journals when copying journals. This is only applicable when the same option is selected in the General configuration, General 3 tab.
    • Select Reversing Journals to copy the account according to the alternative rules for reversing journals when copying journals. This is only applicable when the same option is selected in the General configuration, General 3 tab.
  11. In the Reconciliation Between Accounts text boxes, enter the Reconciliation codes and the account codes to reconcile the current account against.
  12. In the Conversion Method text boxes, enter the conversion code and the possible account to refer the conversion code to. Currency translation codes are normally only specified for detail accounts. For more information, see Currency Translation Codes.
  13. In the Extended Dimension 1-4 text boxes, specify the extended dimension level where data is entered for the account. Data is always entered on the lowest level. If no level is defined the highest level is used.
  14. In the Summation Rules 1-3 text boxes, enter a + or a - if you want to add or subtract the account value to or from another account. In this case you must also specify the account to which or from which the value should be added/subtracted.
    Note: An account is automatically turned into a summation account when other accounts are totaled to it. A summation account is displayed in red text. If you want to delete a summation account you need to remove all summation rules from the underlying accounts referring to the summation account first.
  15. In the Account Description section, select the option button for the language to use and enter a description of the account in the text box. This description can be viewed in the data entry window.
  16. Click Save. The new account appears in the accounts list below the currently selected account. You can change the sort order of the accounts later by clicking the Reorder tab.
  17. Click Close or open the Overview tab.