Maintaining Accounts Overview

You can add, change, delete general ledger accounts. You can also list accounts.

Account Information

GlobalWare stores the following information for each general ledger account, in addition to the identifying fields and balances.

Open Item

A general ledger account is either an open item account or a balance forward account. Open Item accounts are those in which transactions are initially open and will be cleared (closed) by another transaction in the same account. For example, accounts receivable charges will generally be cleared by a payment. General ledger transactions have an Open/Closed flag that enables you to track open versus closed items in the general ledger. For example, balancing the subledgers to the general ledger is much easier because you can exclude closed items.

Automatic Reconciliation and Manual Reconciliation enable you to close transactions in open item, non-bank general ledger accounts. Bank Reconciliation enables you to close transactions in bank general ledger accounts.

Last Check Number

When you generate checks, GlobalWare automatically stores the last check number used for a general ledger bank account. When you print checks, the beginning check number to use is defaulted; you only need to verify with your check stock that it is correct. You should not change the last check number automatically stored by GlobalWare unless it is out of sync with your check stock. To change the last check number for an account, see Editing an Account in the Chart of Accounts.

Ref 1 and Ref 2 Prompts

The Ref 1 and Ref 2 prompts are not used at this time.

Other Maintenance

When you create a general ledger branch, GlobalWare prompts you to clone the chart of accounts. If you did not choose to clone it at that time, you can clone it from the Chart of Accounts screen. For details, see Cloning Charts for a Branch.

The balance for each general ledger account is stored with the account. This makes the trial balance and financial statements run quickly. If the balance in the account does not equal the sum of the detail (general ledger transactions), run GL Proof of Balances.

GlobalWare provides functions for clearing balances when standard procedures (journal entries, purge general ledger, proof of balances, and so forth) cannot make the necessary updates. If you think you need to clear balances, contact the GlobalWare Help Desk.