General Ledger account assignments

Every transaction involving Project Accounting includes General Ledger information (company, accounting unit, account, and subaccount), a posting activity, and an account category. On Activity Group (AC00.1), you can set the GL Acct Assignment option to check for valid combinations of General Ledger and Project Accounting information during data entry. You can select any level of account edit options:

  • 1 (GL Only Activity Group)

  • 2 (No)

  • 3 (Yes-Substitute error suspense)

  • 4 (Yes-Require valid assignment)

If the GL Acct Assignment option is set to 3 or 4, then you must assign General Ledger information that is valid for the activities and account categories in each activity group.

Example

LGE Corporation created an activity group to track the costs of participating in a drug study. This activity group must post costs to their Corporate General Ledger company, Research accounting unit, and to specific accounts that identify the type of cost incurred, such as labor, supplies, and out source expenses. On Account Assignment (AC07.1), they can assign the Corporate General Ledger company, Research accounting unit, and specific accounts to individual activities, or activity and account category combinations. This ensures that labor-related activity costs for the study are posted to labor-related General Ledger accounts, supply costs are posted to supply-related accounts, etc.