Menu

Group your general ledger accounts

  • Updated
Group your general ledger accounts

Use G/L Groups to create a collection of similar G/L Accounts with similar properties. For example, the group "Current Assets" may contain multiple General Ledger accounts, including bank accounts and inventory. Each G/L Account must belong to a G/L Group to correctly balance your books.

When creating aG/L Groups,

  • For your Balance Sheet, create a group called "Income Summary" or "Income Statement" that includes all of the G/L Accounts on your Income Statement. Income Statement accounts are any accounts with a G/L number that is greater than the G/L number of the P&L Break Account.
  • If you have a Multi-Branch Setup and are using G/L Suffixes, create additional G/L Groups for each branch. You can use these groups to create separate Income Statement reports.

You can add or remove G/L Accounts to groups in the G/L Groups screen or the G/L Account screen.

  1. Navigate to Accounting > General Ledger > G/L Group.
  2. To view any of the default groups, in the G/L Group box, click and choose one. All accounts belonging to that group appear in the G/L Accounts list below.

  3. To view details on any account, click the account link in this list.
  4. To create a G/L Group, click New.

    1. In the Description box, type a name for the G/L group, and then press the Tab key.
    2. In the G/L Account list, click Add G/L Account.
    3. In the new row that appears in the G/L Account table, click and select an account. Repeat for each account that will belong to this group.
  5. To flag a group as a revenue group, thereby enabling you to . use the % REV heading in the Financial Reports section of the General Ledger Inquiry screen, click Edit, and then select the Revenue Group check box.

  6. To display summary information for this group when it is included in a report, select the Summary check box.

  7. Click Save.

Related articles