Creating general ledger account codes

You can use general ledger account codes to enable financial reporting. You specify the component values for general ledger accounts. You can also specify a date range for an account to be active. For example, you can specify that a general ledger account for a specific craft is active from 02/25/2010 through 02/25/2011, and expires on 02/26/2011.

1. In the Chart of Accounts application, select the organization for which you want to create a general ledger account code.
2. Click New Row.
3. Specify the component values for the general ledger account value.
4. Click OK.
5. Optional: Change the long description.
   If you change the descriptions for component values, the general ledger account description is not updated. Update the general ledger account description manually.
6. Optional: Specify the appropriate type code.
7. The default for the Active Date field is the date that the general ledger account is created. To activate the account at a different date, specify a future date. The general ledger account remains inactive until the date specified is reached. The read-only Active check box shows as cleared to indicate that the account is not active.
8. If you want the general ledger account to expire by a specific date, specify a date in the Expiration Date field.
9. Save your changes.