Valid GL accounts
You can set up GL accounts so that they correspond to accounts that you use in your external accounting system.
When you create your chart of accounts, you can match the account codes in your accounting system to the account names in the Chart of Accounts application.
Transactions have a debit and a credit entry. For each transaction, an account is written to the database as the debit account. However, the cost of the transaction can be negative or positive to create the correct net accounting effect. In other words, the net effect of a credit is to create a given account by debiting that account with a negative cost amount.
GL Account | Description | Account type | Object and attribute | Application |
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Accounts payable control account | Summarizes the amount that is owed to suppliers and other creditors. | Company-related | COMPANIES.APCONTROLACC | Companies
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Accounts payable suspense account | The value of invoices that are approved, but not paid. | Company-related | COMPANIES.APSUSPENSEACC | Companies
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Asset GL account | The default debit account for work orders, purchase orders, and other types of accounts against an asset. | Location and asset | LOCATIONS.GLACCOUNT ASSET.GLACCOUNT |
Locations |
Consignment suspense accounts | The values of inventory that are owned by an external vendor. | Company-related | COMPANIES.CONSACCT | Companies |
Currency variance account | Differences between the receipt price and the invoice cost that result from changes in the exchange rate. | Inventory-related | LOCATIONS.CURVARACC | Storeroom |
External labor control account | The credit account for work done by outside vendors. | Resource control | ACCOUNTDEFAULTS.GLDEFAULT
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Chart of Accounts
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External tools control account | The credit account for any external tool transaction. | Resource control | ACCOUNTDEFAULTS.GLDEFAULT
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Chart of Accounts
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Internal labor control account | The credit account for work done by internal employees. | Resource control | ACCOUNTDEFAULTS.GLDEFAULT
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Chart of Accounts
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Internal tools control account | The credit account for any internal tool transaction. | Resource control | ACCOUNTDEFAULTS.GLDEFAULT
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Chart of Accounts
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Inventory control account | The monetary value of the stock in the associated storeroom location. | Inventory-related | LOCATIONS.CONTROLACC | Storeroom |
Inventory cost adjustment account | The changes in the average cost or standard cost of your inventory. | Inventory-related | LOCATIONS.INVCOSTADJACC | Storeroom |
Inventory GL account | The resource code that is associated with the commodity group that you set up in the Chart of Accounts application. | Inventory-related | LOCATIONS.CONTROLACC | Storeroom |
Inventory resource code | The inventory resource component of the debit account in a transaction. | Resource | ACCOUNTDEFAULTS.GLDEFAULT
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Chart of Accounts
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Invoice cost variance account | The variances in the price, expressed in the vendor currency, between receipt and invoice for the associated storeroom location. | Inventory-related | LOCATIONS.CURVARACC | Storeroom |
Labor resource code | The labor resource component of the debit account in a transaction. | Resource | ACCOUNTDEFAULTS.GLDEFAULT
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Chart of Accounts
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Operating location GL account | The default debit account for work orders, purchase orders, and other types of accounts against the location. | Location and asset | LOCATIONS.GLACCOUNT | Location |
Paid tax GL account | The accrual account for tax that you pay to a vendor or supplier. | Tax | TAXTYPE.INCLUSIVEGL | Organizations
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Preventive maintenance GL account | Used when a preventive maintenance record generates a work order. | Preventive maintenance | PM.GLACCOUNT | Preventative Maintenance |
Purchase variance account | The purchase variance account is not used for any transactions. | Inventory-related | LOCATIONS.PURCHVARACC | Storeroom |
Receipts price variance account | The differences between the inventory standard cost and the receipt cost for items in the associated storeroom location. | Inventory-related | LOCATIONS.RECEIPTVARACC | Storeroom |
Received but not invoiced account | The materials and services that you have received, but that you have not yet invoiced. | Company-related | COMPANIES.RBNIACC | Companies
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Rotating suspense account | The accumulated cost of repairs to an asset until you move the asset into a storeroom. | Inventory-related | ASSET.ROTSUSPACCT | Chart of Accounts
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Shrinkage cost account | The differences between actual inventory quantities and calculated quantities. | Inventory-related | LOCATIONS.SHRINKAGEACC | Storeroom |
Tool control accounts | The default account used to track transactions on a tool that is owned by an external vendor. | Company-related | COMPANIES.TOOLCONTROLACCOUNT | Companies
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Tool resource code | The tool resource component of the debit account in a transaction. | Resource | ACCOUNTDEFAULTS.GLDEFAULT
ITEMORGINFO.GLACCOUNT |
Chart of Accounts
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Unpaid tax GL account | The accrual account for unpaid tax. | Tax | TAXTYPE.EXCLUSIVEGL | Organizations
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