Accounting Rules for GL - General Ledger

GL01: Journal vouchers

When applied

Account entries are created when a journal voucher is recorded in 'Journal Voucher. Enter' (GLS100).

References

Accounting rules for GL01: Journal vouchers

This table shows the accounting rules for journal vouchers:


Rule	D or C	Name	Description
GL01-111	C	VAT payable 1	Used when the 'VAT reported on payment day' check box is left cleared for the VAT code in 'VAT Code. Open'(CRS030).
GL01-112	C	VAT payable 2	Used when the 'VAT reported on payment day' check box is left cleared in combination with VAT method 2 or 3 in (CRS030).
GL01-113	C	Suspense account for VAT payable 1	Used when the 'VAT reported on payment day' check box is selected in (CRS030).
GL01-114	C	Suspense account for VAT payable 2	Used when the 'VAT reported on payment day' is selected in combination with VAT method 2 or 3 in (CRS030).
GL01-211	D	VAT receivable 1	Used when the 'VAT reported on payment day' check box is left cleared in (CRS030). When used to record Canadian sales tax on purchases in 'Supplier Invoice. Record' (APS100) it represents the General Sales Tax (GST) or the Harmonized Sales Tax (HST). For details, see Canadian Sales Tax in M3.
GL01-212	D	VAT receivable 2	Used when the 'VAT reported on payment day' check box is selected in combination with VAT method 2 or 3 in (CRS030). When used to record Canadian sales tax on purchases in (APS100) it represents the Provincial Sales Tax (PST) or Quebec Sales Tax (QST). If the PST is self-assessed by the company, an offsetting PST credit transaction is created based on accounting rule AP10-217.
GL01-213	D	Suspense account for VAT receivable 1	Used when the 'VAT reported on payment day' check box is selected in (CRS030).
GL01-214	D	Suspense account for VAT receivable 2	Used when the 'VAT reported on payment day' check box is selected in combination with VAT method 2 or 3 in (CRS030).
GL01-217		Base investment tax
GL01-218		Contra account for base investment tax
GL01-280		Rounding off

GL20: Unrealized exchange rate differences in currency accounts

When applied

Account entries are created when unrealized exchange rate differences are recorded for the currency accounts in the balance sheet in 'Unrealized Exchange Rate Variance. Update' (GLS160). Currency accounts are accounts with a currency connected to them in 'Accounting Identity. Open' (CRS630/F) such as bank accounts. A requirement is that alternative 1 = 'Currency accounts' is selected in the 'Revaluation account' field in (GLS160).

Accounting rules for GL20: Unrealized exchange rate differences in currency accounts

This table show the accounting rules for unrealized exchange rate differences in currency accounts:


Rule	D or C	Name	Description
GL20-351	C	Unrealized exchange rate gain	Represents the profit and loss account for the capital gain due to unrealized exchange rate gain.
GL20-352	D	Unrealized exchange rate loss	Represents the profit and loss account for the capital gain due to unrealized exchange rate loss.

GL21: Unrealized exchange rate differences in accounts receivable

When applied

Account entries are created when the accounts receivable part of the balance sheet is revaluated in 'Unrealized Exchange Rate Variance. Update' (GLS160). All accounts with the 'Accounts receivable account' check box selected in (CRS630/E) are included. A requirement is that alternative 2 = 'Accounts receivable' is selected in the 'Revaluation account' field in (GLS160).

Accounting rules for GL21: Unrealized exchange rate differences in accounts receivable

This table shows the accounting rules for unrealized exchange rate differences in accounts receivable:


Rule	D or C	Name	Description
GL21-350		Adjustment account	Represents the balance account for adjustments due to unrealized exchange rate gain or loss.
GL21-351	C	Unrealized exchange rate gain	Represents the profit and loss account for the capital gain due to unrealized exchange rate gain.
GL21-352	D	Unrealized exchange rate loss	Represents the profit and loss account for the capital gain due to unrealized exchange rate loss.

GL22: Unrealized exchange rate differences in accounts payable

When applied

Account entries are created when the accounts payable part of the balance sheet is revaluated in 'Unrealized Exchange Rate Variance. Update' (GLS160). All accounts with the 'Accounts payable account' check box selected in (CRS630/E) are included. A requirement is that alternative 3 = 'Accounts payable' is selected in the 'Revaluation account' field in (GLS160).

Accounting rules for GL22: Unrealized exchange rate differences in accounts payable

This table shows the accounting rules for unrealized exchange rate differences in accounts payable:


Rule	D or C	Name	Description
GL22-350		Adjustment account	Represents the balance account for adjustments due to unrealized gain or loss.
GL22-351	C	Unrealized exchange rate gain	Represents the profit and loss account for the capital gain due to unrealized exchange rate gain.
GL22-352	D	Unrealized exchange rate loss	Represents the profit and loss account for the capital gain due to unrealized exchange rate loss.

GL30: Petty cash

When applied

Account entries are created for VAT in 'Petty Cash. Open' (GLS095).

References

See Petty Cash.

Accounting rules for GL30: Petty Cash

This table shows the accounting rules for petty cash:


Rule	D or C	Name	Description
GL30-111	C	VAT payable 1	Used when the 'VAT reported on payment day' check box is left cleared for the VAT code in 'VAT Code. Open'(CRS030).
GL30-112	C	VAT payable 2	Used when the 'VAT reported on payment day' check box is left cleared in combination with VAT method 2 or 3 in (CRS030).
GL30-113	C	Suspense account for VAT payable 1	Used when the 'VAT reported on payment day' check box is selected in (CRS030).
GL30-114	C	Suspense account for VAT payable 2	Used when the 'VAT reported on payment day' is selected in combination with VAT method 2 or 3 in (CRS030).
GL30-211	D	VAT receivable 1	Used when the 'VAT reported on payment day' check box is left cleared in (CRS030). When used to record Canadian sales tax on purchases in 'Supplier Invoice. Record' (APS100) it represents the General Sales Tax (GST) or the Harmonized Sales Tax (HST). For details, see Canadian Sales Tax in M3.
GL30-212	D	VAT receivable 2	Used when the 'VAT reported on payment day' check box is selected in combination with VAT method 2 or 3 in (CRS030). When used to record Canadian sales tax on purchases in (APS100) it represents the Provincial Sales Tax (PST) or Quebec Sales Tax (QST). If the PST is self-assessed by the company, an offsetting PST credit transaction is created based on accounting rule AP10-217.
GL30-213	D	Suspense account for VAT receivable 1	Used when the 'VAT reported on payment day' check box is selected in (CRS030).
GL30-214	D	Suspense account for VAT receivable 2	Used when the 'VAT reported on payment day' check box is selected in combination with VAT method 2 or 3 in (CRS030).
GL30-217		Base investment tax
GL30-218		Contra account for base investment tax
GL30-280		Rounding off

GL49: Project Accounting

When applied

Account entries are created when you create a proposal in 'Project Accounting. Open' (GLS495). Use related option 9-'Update GL' in (GLS495) to create the account entries for Project Accounting.

References

See Project Accounting.

Accounting rules for GL49: Project Accounting

This table shows he accounting rules for Project Accounting:


Rule	D or C	Name
GL49-805	D	Recognize, costs
GL49-807	C	Recognize, revenues
GL49-809	C	Cost reservation
GL49-811	C	Revenue reservation
GL49-815	D	Project value in the balance sheet
GL49-816	D/C	Project cost in the balance sheet

GL91: Third currency adjustments GL

When applied

Account entries are created when 'Ext rt mgmt 3rd' is set to 1 or 2 in 'Settings - General Ledger' (CRS750) and when adjustments in the third currency are required.

Accounting rules for GL91: Third currency adjustments GL

This table shows the accounting rules for third currency adjustments GL:


Rule	D or C	Name	Description
GL91-281		Rounding off - third currency	Used when a rounding transaction is needed to balance a voucher in third currency.