Chart of Accounts

From the menu select General Ledger > Maintenance Functions > Chart of Accounts

Purpose To define or modify an account record on the master Chart of Accounts file. The entry of an account type is sufficient to establish an account on the chart of accounts file. Each account number is composed of a company, cost center, and detail/expense line component as defined in previous sections. No transactions posted in any of the Financial modules (A/P, G/L, and P/R) may access an account that does not exist on the Chart of Accounts.

As mentioned previously, one cost center must include each account number that you create. This can be any one you choose.

Important: DockMaster has the ability to duplicate entire portions of your master Chart of Accounts for a new company or cost center. This may be done through the Maintenance Functions menu on the General Ledger menu. The program is called Duplicate Chart of Accounts.

Account Number - Enter the Account Number to be added or accessed on the Chart of Accounts according to the definition established in the Account Structure in the General Ledger Parameters record. In other words, if you decided on a seven-digit (7) account number, enter the seven-digit number.

Press F6 to list the existing Chart of Accounts.

To create an account, the Company portion of the account must exist on the Company Table; the Cost Center portion of the account must exist on the Cost Centers, and the Detail portion must exist on the Detail Accounts. If either the Cost Center or Detail Account doesn’t exist, a window will appear which allows you to create a cost center and/or detail item while in the Chart of Accounts program.

Account Type - Enter the Account Type for the account you’re creating. The list of account types is: Asset, Liability, Equity, Income, and Expense.

Closing G/L Account - Press <Enter>to automatically display the Closing G/L Account if the Account Type you selected was an Income or Expense type. If you called the account an asset, liability, or equity type, this prompt is skipped.

Whenever a balance sheet is produced or the Year End Close process executed, all income and expense accounts are automatically 'closed' to the specified Closing Account. In the case of financial statements, a 'quasi-closing' is done; no financial entries are actually made to the ledger. In the case of the Year End Close, an actual Journal Voucher is created and posted to the ledger to physically close all income and expense accounts to the specified closing accounts.

Important: The closing account was retrieved from the Company Table. If the account is wrong, go to the Company Table and change the default closing account there.

Inactive Date - Press <Enter>at the Inactive Date field. This field is used to prevent a user from accessing this account. Only accounts without activity may be deleted in the system; this field allows you to inactivate the account when deleting it is not an option.

Budget Spread Code - Press <Enter> at the Budget Spread Code field or press F6 to list the available budget spread codes. Budget spread codes are used to define the monthly percentage allocation of an annual budget amount.

Budget Spread Codes can be maintained through Maintenance Functions on the General Ledger menu.

The Current Budget field cannot be maintained. This field displays the current year's annual budget.

Duplicating a G/L Account in ALL Cost Centers

Click on the ALL-Cost Centers box to duplicate this account in ALL cost centers when you press Save.

For example, assume you have four cost centers (00, 10, 20, and 30); if you are creating the account 1006500 for telephone expense and you click on this box; the system will automatically create accounts 1106500, 1206500, and 1306500.

Duplicating a G/L Account in Specific Cost Centers

-- Duplicate Cost Centers --

Click in the Duplicate Cost Centers grid to specify the Cost Centers you want to duplicate this account in. Press F6 to list the Cost Centers while the cursor is at the ID column.

Detail Account Maintenance

Click on the Detail Account Maintenance hyperlink in the Command Panel to create a new detail account or maintain an existing detail account.

Press the Save button from the Command Panel to save your changes.

Press the Close button to return to the Chart of Accounts Maintenance screen.

Cost Center Maintenance

Click on the Cost Center Maintenance hyperlink in the Command Panel to create a new cost code or maintain an existing cost center.

Press the Save button from the Command Panel to save your changes.

Press the Close button to return to the Chart of Accounts Maintenance screen.

Adding a G/L Account to a Financial Statement

Statement Lines Tab

Click on the Statement Lines tab to show what line number on each financial statement table this account appears on. If there are no line numbers shown you must update the appropriate statement tables with the account number before running your financials.

Adding a G/L Account to a Financial Form

Financial Forms Tab

Click on the Financial Forms tab to attach this G/L account to a box on a pre-programmed financial form. Click in the Box # of the Financial Form you are going to use and type the box number from the form template where this account should be included.

You can obtain a form template for the Sea Ray Dealer Financials and Dealer Management Systems Form from DockMaster.

Entering G/L Account Budgets

Budget Entry Tab

Click on the Budget Entry tab to enter budget information for this G/L account. Note: If you simply want to enter a budget amount for this account, enter a Budget Year and the Annual Budget.

Budget Code – Enter a Budget spread Code or press F6 to list the available budget spread codes. Budget spread codes are used to define the monthly percentage allocation of an annual budget amount. Budget Spread Codes can be maintained through Maintenance Functions on the General Ledger menu.
Budget Year - Enter the Budget Year you are adding or modifying.
Based on Actual Years - This prompt controls whether the software will calculate a budget for you based on the ACTUAL dollar amounts in this account for the Years entered. Enter the years separated by commas. For example, if you want the software to calculate a budget for this account based on the actual G/L balances for the years 1999, 2000, and 2001; you would enter 99,00,01.
Base on Budget Years - This prompt controls whether the software will calculate a budget for you based on the Budgeted dollar amounts in this account for the Years entered. See above for format information.
Increase/Decrease % - Enter whether you want to simply increase or decrease the budget for the Budget Year selected in the previous prompt by a certain percentage.
Annual Budget – This prompt allows you to enter an Annual Budget for this account; Income accounts should be entered as a negative value and expense accounts as a positive value.

-- Budget --

Click in the Budget grid to modify or add a budget amount for the G/L Periods shown for the Budget Year selected.

Inactivating a G/L Account

You cannot delete an account that has detail G/L activity; however, you can inactivate the account using the Inactive Date field. When an account has been made inactive it can no longer be utilized for transacting or added to new financial tables.

Deleting a G/L Account

You cannot delete an account that has detail G/L activity; however, you can inactivate the account using the Inactive Date field.