How do I set up an account prefix in General Ledger?
Description

You can set three levels of prefixes in General Ledger. Use prefixes to define each major and sub-entity in General Ledger as follows:

  • Prefix A: define each major entity
  • Prefix B: define each sub-entity of Prefix A
  • Prefix C: define each sub-entity of Prefix B

Prefixes are combined with base accounts to form the General Ledger accounts. This allows multiple entities to coexist in one data folder. You can uniquely identify each chart of accounts by a prefix.

Cause

Resolution

Prefix A

  1. In General Ledger, from the Setup menu, select Prefix/Base.
  2. Select Prefix A. Your menus replace "Prefix A" with the description given when you defined the account format.
  3. Enter the prefix number and name.
  4. Enter the address information for this entity.
  5. If this prefix represents a balance sheet reporting level, select the correct Intercompany Payable and Receivable base accounts.
  6. Select the fiscal entity level (A, B, or C) for your fiscal settings. This item displays if you selected Prefix as the fiscal entity in GL Settings.
  7. If Prefix A is the fiscal entity level, click Fiscal Settings to enter fiscal information and partners. See the Fiscal Settings section below.
    Note: You can define your Federal ID or Australian Business Number (ABN) in these settings.
  8. Click Save to accept your entry.
  9. Click Close to exit.

Prefix B

  1. From the Setup menu, select Prefix/Base.
  2. Select Prefix B. Your menus replace "Prefix B" with the description given when you defined the account format.
  3. Enter the Prefix number and name.
  4. Enter the address information for this entity.
  5. If this prefix represents a balance sheet reporting level, select the correct Intercompany Payable and Receivable base accounts.
  6. If Prefix B is the fiscal entity level, click Fiscal Settings to enter fiscal information and partners. See the Fiscal Settings section below.
    Note: You can define your Federal ID or Australian Business Number (ABN) in these settings.
  7. Click Save.
  8. Click Close to exit.

Prefix C

  1. From the Setup menu, select Prefix/Base.
  2. Select Prefix C. Your menus replace "Prefix C" with the description given when you defined the account format.
  3. Enter the Prefix number and name.
  4. Enter the address information for this entity.
  5. If this prefix represents a balance sheet reporting level, select the correct Intercompany Payable and Receivable base accounts.
  6. If Prefix C is the fiscal entity level, click Fiscal Settings to enter fiscal information and partners. See the Fiscal Settings section below.
    Note: You can define your Federal ID or Australian Business Number (ABN) in these settings.
  7. Click Save.
  8. Click Close to exit.

After setting up your prefixes, generate accounts to create the full accounts that combine your prefixes with your base accounts. From the Setup menu, select Generate Accounts. See more information about generating accounts.

Fiscal Settings

  1. Under Dates, enter the Period Ending date.
    Note: To help display the correct date on reports, use the period before the date of your beginning entries and close the period after you finish entering.
  2. Under Dates, enter the Fiscal Ending date for the current fiscal year.
  3. Open the Calendar.
    1. If using thirteen accounting periods, check the Thirteen Periods? box.
    2. Verify the calendar displays the correct period end dates. If using Calendar years, the periods should prepopulate correctly.
    3. Click Ok to confirm the calendar.
  4. Select the Balance Sheet Level.
  5. Verify Fiscal Year End, Period End Date, Balance Sheet Level, and Calendar are correct.
    Note: Changing these settings later requires assistance from Sage Expert Services or your Sage Consultant.
  6. Click on Partners and enter information, if needed.
  7. Click Ok to save.
Steps to duplicate
Related Solutions

How do I Generate Accounts in General Ledger?
How do I set up or edit a prefix group for my financial statements?
How do I set up Partners in General Ledger?