1 Topic by Berctain (edited by Berctain 05/20/2014 06:29:01 pm)

  • From: USA, Chicago
  • Registered: 02/08/2013
  • Posts: 28

Topic: Journal Entry for GL Account Groups

Hello,
in our manually accounting ( our chart of accounts ) some accounts don't has "GL Accounts" and its finished in "Account Groups" so is there any way to entry a "journal entry" for "Account Groups" without needing any "GL Accounts" ?
since they don't have any subgroup so now its not possible to entry any journal entry

  • joe
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  • Registered: 03/15/2007
  • Posts: 5,107

Re: Journal Entry for GL Account Groups

You always enter journal entris into GL accounts. How the accounts are organized is how they are connected to an Account Group. The same is related to which Account Class an Aaccount Group belongs.

Joe

  • From: USA, Chicago
  • Registered: 02/08/2013
  • Posts: 28

Re: Journal Entry for GL Account Groups

Yes the simple way is to make a GL Accounts for which Account group that does not have any GL Account ( subgroup ), but since we would to use a reporter that can show Accounts group's total in a page, thats why i asked about it

we have some account group in our chart of accounts like this :

60                 Liabilities
60 101         Current Liabilities
60 101 002  Accounts Payable

71 210         Bank Charges

in first row 60 is ( class ) 101 ( group ) 002 ( gl account) and in fourth row 71 (class) 210 (group) and it does not  need to any gl account coz it has not too much record
so as you see bank charges does not have any GL account so now its not possible to entry any record to that until make one GL account to that , so i just wondered if there is any way to fix this

  • joe
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Re: Journal Entry for GL Account Groups

You are totally free to build the chart of accounts the way you like. Use account groups with parent of another group to fully build it even more detailed if needed.

As long as there are no accounts in a group, this group will not be shown in Balance Sheet and PL Statements.

Please laborate with this on the Training Co.

Joe