Creating a chart of accounts

Use this procedure to define a chart of accounts for an organization. A chart of accounts is a listing of all accounts that are available for use within an organization.

You must enable these fields by selecting the Chart of Accounts check box on the Organization.

  1. Select Administrator > Set Up > Prerequisites > Chart of Accounts > Chart of Accounts.
  2. Click Create, and specify this information:
    Enterprise Group
    Specify the date on which the chart is available for use.
    Chart Name
    Specify a unique identifier for the chart.
    Description
    Specify a description for the chart.
  3. Click Save. The Chart of Accounts tab is displayed.
  4. On the Chart of Accounts tab, click Create, and specify this information:
    Account
    Specify the account number for the detail account. If this account will be interfaced to Infor HR Management, you can use up to six numeric characters to define the account.
    Sub Account
    Specify the sub account number for the detail subaccount. If this account will be interfaced to Infor HR Management, you can use up to four numeric characters to define the subaccount.
    Account Description
    Specify a description for the detail account.
    Chart Section
    Select the section of the chart of accounts to which this detail account belongs.
    Account Currency
    Select the currency to be used for this account.
    Status
    Select the status of the account. You cannot post to inactive accounts, but they are included on reports and inquiries.
    Accounting Unit Groups
    Select the custom group of accounting units to which this account is attached. The accounting units in the selected group are the one eligible for use by the detail account.
  5. Repeat the previous step until all of the detail accounts have been added to the chart of accounts.
  6. Select Administrator > Set Up > Prerequisites > Account Validation to view and verify the complete GL account information. Each Account Validation record lists the valid Company, Accounting Unit, and Chart of Accounts combinations that you have created.
    Note: You can also create new accounting units and detail accounts directly from the Account Validation screen.