Chart of accounts overview
You can set up default general ledger accounts and resource
codes for standard accounting functions. You create accounts and resource
codes to correspond with accounts that you use in your external accounting
system. You can also set up financial periods, and specify general
validation options.
General ledger account codes
You define values for the different components, and link together the component values to create general ledger account codes. You use the general ledger accounts for specific financial tracking purposes. You can also specify dates for general ledger accounts to be active or to expire.
Organizational default accounts for general ledgers
In the Chart of Accounts application, you use organizational default accounts as holding accounts for financial considerations.
Merge of general ledger accounts
When a general ledger account field is not uniquely specified, the general ledger components are merged. Generating work orders and other kinds of transactions requires choosing among component values. The product invokes a set of rules on how to handle them.
Resource codes for general ledgers
A resource code typically consists of one component of the account code.
Inactive component values
In the Chart of Accounts application, you can deactivate component values. Inactive components are not available to general ledger accounts that you add to records. General ledger accounts that use an inactive component become inactive also. You can also set component values to expire by a specific date, which renders them inactive.