Setting up Chart of Accounts - General

  1. Click the General tab in the Chart of Accounts (COA) dialog.
  2. Specify this information:
    Account Type

    Select the type of account you want to create: Debtor, Creditor, Client, P&L, Balance Sheet or Memo. A Client account is used when a customer is also a supplier, or vice versa, and therefore the balance at any time might be debit or credit. A Memo account contains non-financial data of any time.

    Note: A client account should always be linked to a supplier, not to a customer.
    Status

    Set the status to Open, Suspended or Closed.

    Balance Type

    This indicates whether this account is a Balance Forward or an Open Item account.

    Account Sub-Type ID

    If you are integrating, enter the Account Sub-Type ID or use the Query button to select an Account Sub-Type ID from the list.

    Data Access Group
    Debit or Credit

    If you are integrating, select either Debit or Credit.

    Note: The Account Sub-Type ID and Debit or Credit options are only available on the CA_INT Chart of Accounts integration form.
    Link Account Code

    If you are using linked accounts in Journal Presets, enter the code of the account you want to link to this account. Otherwise, leave this blank. In Journal Presets, you can specify that the account code for a journal line is set to the link account of the account entered on another line.

    Accounting Links Allowed

    This indicates whether you are using the Accounting Link function to create and maintain accounting links to support the Pay As Paid requirements when Financials is being used as a Broker ledger.

    Note: The Account Links Allowed option is only available on the CA_DEM Chart of Account form.
    User Area

    The User Area can hold any static information relating to the account that is specific, and perhaps unusual, to your organization and cannot be recorded elsewhere. This is normally kept hidden and is for use by third party programs.

    Long Description

    Enter any description or comment about this account.

    Addresses Setup

    Click this button to access the addresses setup record for the current account code.

    Bank Details Setup

    Click this button to access the bank details setup record for the current account code.

    Credit Limit

    Enter the amount in base currency of credit available on this account. Leave this blank if the account has no credit limit.

    Overdue Invoice Limit

    Enter the amount of overdue invoices allowed for this account.

    Allocation in Progress

    This display-only field displays Yes if transactions on the account are being allocated using one of the allocation or payment functions.

  3. Save your changes.