You define the account format in Custom Descriptions and enter the applicable prefixes and base accounts. Then you create account numbers by using the Generate Accounts task in the Setup menu. This combines prefixes with base accounts to create a chart of accounts.

Information

Unit and Suspense accounts

Accounts don't generate if the Account Type is Units or Suspense.

Balance Sheet accounts

A Balance sheet prefix is a prefix with zeros that fill at all levels lower than the balance sheet level.

Balance sheet accounts consist of Current Assets, Noncurrent Assets, Current Liabilities, Noncurrent Liabilities, Equity, and Retained Earnings.

If the General Ledger account is a balance sheet account, then GL creates the full account only if you created the appropriate Balance sheet prefix. The prefix must exist before running Generate Accounts because the task doesn't create prefixes.

If you didn't create the Balance sheet prefix, the following message displays at the completion of the Generate Accounts task:

"Not all balance sheet accounts were generated because of missing prefix records. If you store balance sheet accounts at a higher level than income statement accounts, you need to create the special balance sheet prefix (e.g. 10-00) in order to create the accounts. Set up the prefixes for the balance sheet accounts and run Generate Accounts again."

Profit and Loss accounts

Profit and Loss accounts consist of Income, Cost, Expense, and Other Income.

If the General Ledger account is a profit/loss account, then GL creates the full account using all existing prefixes excluding the Balance Sheet prefixes.

If the balance sheet level is at the lowest level, then there are no Balance sheet prefixes. For example, you have three prefixes that all have a balance sheet level at Prefix C. The task combines all existing prefixes and base accounts for both balance sheet accounts and profit/loss accounts.

Examples

The examples in the table use the following setup:

• Prefix A: 9
• Prefix B: 9-10
• Prefix C: 9-10-10
• Current Assets base: 1111
• Income base: 4444

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

How do I create a new base account in General Ledger?