Chart of Accounts
Use this form to define account numbers that will be used throughout the system to record, track, and report costs. The General Ledger is tied to other parts of the system through the Chart of Accounts and the journals.
The system uses default accounts for specific transactions. Specifically:
- Account numbers for transactions are often automatically assigned from Code and Parameters tables.
- Sales order and purchase order lines use account numbers from the Product Code table. An item is assigned a product code, and each product code has account numbers associated with it. When an item is sold, it is entered on a sales order line item. When the voucher is entered, the system credits the inventory account (taken from the product code) with the proper amount.