Default System G/L Values Maintenance

Program/Screen: GLSYSM/GLSYSMC1

Description:

Use this screen to enter or maintain the G/L accounts that you want to default throughout the system for the specified location.

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For each account name/category, enter a valid G/L account number that you want to use as the default.  If you do not know the account number, enter 1 in the O (Option) field next to the account name to search for it.  Several accounts like Cash in Bank and Accounts Payable allow the entry of multiple account numbers.  For those accounts, enter 2 in the Option field to access the Additional Accounts screen to enter more than one applicable account number.

Unique Default G/L System Values Screens

Default System G/L Values - Launch

Default System G/L Values - Copy

Default System G/L Values Maintenance

Default System G/L Values - Additional Accounts

Options

Fields

Cash in Bank - A/R

Enter the G/L account to debit when posting A/R cash receipts via the Post Customer Payments program.  If a cash receipt from a customer check is reversed via the A/R Adjustments program, this account is credited.

The account entered here can be overridden by setting control record ARCSH2 to require a payment code when entering cash receipts in the Cash Receipts program.  In this situation, when a payment code is entered, the system debits the G/L account associated with that payment code, unless that payment code is listed in field ZXTEXT in control record ARBCHR.

When the cash drawer is posted via Cash Control Entry - Deposit Completion, the system looks at the setting in control record RACS3P to determine which G/L accounts to affect with cash received via payment codes C (Cash) and K (Check).

Enter 2 in the Option field for this account to access the Additional Accounts screen and enter multiple cash in bank accounts for different currencies.

Cash on Hand

This account represents accumulated payments that exist in the cash drawer on a daily basis until the drawer is closed, and the payments are deposited in the bank.

Enter the G/L account to debit when cash is received at the counter from cash and charge customers via transactions such as, Update Deposit, Uncollected Account Payment, and Customer ROA Payment Entry.

Accounts Payable

Enter the G/L account to credit when A/P invoices are posted via the Post Invoices program.  This account is debited when invoices are paid and cash is disbursed via the Print Checks/Disburse Cash program.  You can override this account in Vendor Maintenance, and if the Allow input of A/P Acct# field is set to Y in control record IP210T, you can override this account during A/P invoice entry.

Enter 2 in the Option field for this account to access the Additional Accounts screen and enter multiple accounts payable accounts for different currencies.

Notes Payable Short Term

Enter the G/L account to credit for the short term portion of a notes payable invoice entry made via the Note Entry program.  The short term portion of the note is the amount that is due in the next 12 months.

Sales Tax Payable

Enter the G/L account to credit for the tax portion of transactions.  This account can be overridden by entering a G/L account for a tax code in the Tax Code Master Maintenance program.  This account also defaults for the tax portion of an A/R adjustment for a write-off.

Interest Expense

Enter the G/L account to debit for the interest portion of notes payable.

Cash in Bank - A/P

Enter the G/L account to credit when cash is disbursed via the Print Checks/Disburse Cash program to pay A/P invoices.  This account can be the same account that was entered in the Cash in Bank - A/R field.

You can override this account in Vendor Maintenance, and if the Protect cash account field is set to Y in control record CKINV$, you can override this account during A/P invoice entry when working with a prepaid invoice.

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Miscellaneous Income

Enter the G/L account to credit for the revenue from transactions when no other default account number is found.

Accounts Receivable

Enter the G/L account to debit when an invoice is created for a charge customer and credited when a credit memo is created for a charge customer.  The account is credited when the Post Customer Payments program is run to post payment batches from charge customers.  You can override this account in Customer Master Maintenance.

Enter 2 in the Option field for this account to access the Additional Accounts screen and enter multiple accounts receivable accounts for different currencies.

A/R Discounts Taken

For future use.

A/R Bad Debt Write-off

Enter the G/L account to default when the write-off option is used in the A/R Adjustments program.  The write-off amount is removed from the A/R invoice and expensed to this account.

Service Charges

Enter the G/L account to credit for the revenue portion of late charge transactions.  This account is also credited when NSF (non-sufficient funds) fees are charged.

Damage Waiver

Enter the G/L account to credit for revenue for the damage waiver portion of rental invoices.

Delivery/Pickup

Enter the G/L account to credit for revenue for the delivery and pickup charges on rental invoices when the amounts are entered in the Delivery Amount and Pickup Amount fields when creating the rental contract.  This account can be overridden by setting up sales or miscellaneous charge items to enter for these charges on rental contracts.  The system would then obtain the G/L account to credit from the sales revenue distribution master record.

Fuel

Enter the G/L account to credit for revenue when there are fuel charges on an invoice.  This account is only used if control record FUELDT is set to N.  If that control record is set to Y, the G/L account is obtained from the sales revenue distribution master record for the G/L category associated with the sales or miscellaneous charge item that is used for fuel.

Miscellaneous Charges

For future use.

Customer Deposits

Enter the liability G/L account to affect when deposits are taken from both cash and charge customers.  Deposit amounts are held in this account, and then used to offset the amount owed when the invoice is closed.

Rental Purchase Option Charge

Enter the G/L account to credit for revenue from the rental purchase option charge for rental purchase contracts.

Notes Payable Long Term

Enter the G/L account to credit for the long term portion of a notes payable invoice entry made via the Note Entry program.  The long term portion of the note is the amount that is due in more than 12 months.

GST Tax

This field only displays when the Use GST field is set to Y in control record USEGST.  If applicable, enter the G/L account to credit for the GST (Goods and Services Tax) tax portion of transactions.

Legal Entity

This field only displays when the Wrt GL for legal entity field is set to Y in control record GLWRT1.  If applicable, enter the G/L account to affect when transfer and A/R cash receipts transactions occur between locations with different legal entity references.

Currency Variance

Enter the G/L account that is affected by the variance between currencies in a transaction.  Use control record CURVAR to set the maximum allowable variance amount to hit this account from transactions that involve multiple currencies.

Quasi A/P

If applicable, enter the G/L account to credit when a purchase order has been received, but the vendor invoice has not yet been received or vouchered in the system.  Use of this account is determined by the setting in the Create G/L transactions field in control record CRTQAP.

Prepaid Check Cash

Enter the G/L account to debit for manual checks or credit card transactions processed at an offsite location such as a trade show.

Sales Tax Paid

Enter the G/L account to affect during A/P invoice entry for sales tax paid to vendors.

Freight Paid to Vendors

Enter the G/L account to debit for the freight charges paid on vendor invoices.

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Consigned Equipment

Enter the G/L account to affect for equipment received on consignment.  This account is used for purchasing, receiving, and sales to rental transfer transactions for consigned equipment.

Delivery/Pickup Accrual

If delivery and pickup charges are entered at the line item level, enter the G/L account to credit with those charges when the item is on rent.  This account is debited when the item is returned.

Retained Earnings

Enter the G/L account to which your profit and loss accounts are carried forward when you close your accounting year.  This account is the default for the Retained Earnings field in the Year End Processing program.

ENB Accrued Receivables

Enter the G/L account to debit when the Earned Not Billed report is run, and the user selects to process a general ledger entry for revenue that has been earned but not yet invoiced.

ENB Accrued Revenue - Rent

Enter the G/L account to credit when the Earned Not Billed report is run, and the user selects to process a general ledger entry for rental revenue that has been earned but not yet invoiced.

ENB Accrued Revenue - Sales

Enter the G/L account to credit when the Earned Not Billed report is run, and the user selects to process a general ledger entry for sales revenue that has been earned but not yet invoiced.

ENB Accrued Revenue - Other

Enter the G/L account to credit when the Earned Not Billed report is run, and the user selects to process a general ledger entry for other revenue such as sales tax that has been earned but not yet invoiced.

Progress Bill

No longer used.

Progress Collection

No longer used.

Warranty Expense

Enter the G/L account to affect when an A/P invoice is automatically created for a warranty claim when a work order is closed.

A/R Write-off Recovery

Enter the G/L account to affect when you recover amounts against A/R balances that were written off.

A/R Receipt on Account

For future use.

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Special Handling Charge

Enter the G/L account to affect for special handling charges entered in transfer programs.

A/P Discounts Taken

Enter the G/L account to affect when vendor discounts are taken.  This is the default account in A/P Invoice Entry.

Pre-payment Cash

Enter the G/L liability account to credit when pre-payment is received for a proforma invoiceDraft or suspense invoice that looks like an actual invoice, but the customer is not billed and accounts receivable is not affected..

Pre-payment Tax

Enter the G/L account to credit for the tax portion of a pre-payment made for a proforma invoice.

Pre-payment Expense

Enter the G/L suspense account to debit when pre-payment is received for a proforma invoice.

Internal Rental Revenue

If the DFLT Journal Entry field and the Require GL accounts fields are set to Y in control record GLARVR, enter the G/L account affected by the distribution of rental revenue when equipment is loaned to another branch for rental.

Intercompany Rent Allocation

If the DFLT Journal Entry field and the Require GL accounts fields are set to Y in control record GLARVR, enter the G/L account that is the offset to the Internal Rental Revenue account.

A/R Bad Debt Recognition

Enter the G/L account to debit when Option 9 - A/R Bad Debt Recognition is used in the A/R Adjustments program.  The program reclassifies the amount on a charge customer invoice from the Accounts Receivable account to this one, and it stays in this account until it is actually written off using Option 3 in the A/R Adjustments program.

Bank Transfer Control

Enter the G/L account to use as a control/holding account for amounts transferred between bank accounts.  The amount stays in this account until you reconcile the bank statement for the receiving bank.

Function Keys

Related Programs

G/L Account Master Maintenance

G/L Revenue Distribution Maintenance - Equipment

G/L Sales Revenue Distribution Maintenance - Item

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