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Edit/Delete Skeleton GL Accounts

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Overview 

When you install Accounting Seed you are provided with a skeleton Chart of Accounts as part of the install. You are able to delete and/or edit these records to create your own Chart of Accounts.

The only time Accounting Seed automatically creates GL Accounts is during the initial installation process. This means that for all subsequent Accounting Seed upgrades your Chart of Accounts will remain unchanged.

Changing a GL Account

To change a value of the skeleton chart of accounts simply navigate to the GL account record and click edit. You can change the name and click save.

Deleting Skeleton GL Accounts

To delete Skeleton GL Accounts please follow these steps: 

  1. Unpost all transactions with the related GL account.
  2. Delete any remaining Financial Cubes associated with the GL Account. 
  3. Navigate to the GL Account and click delete.

Skeleton GL Accounts created on Installation

Below is the Skeleton Chart of Accounts included with the installation of Accounting Seed. This does include the GL Accounts for the Cash Flow categories. It also illustrates how the Type, Sub Type 1, and Sub Type 2 field values can be set up.

Table Key

Editable Values Non-Editable Values

 

  GL Account Name   Type   Sub Type 1   Sub Type 2
  1000-Cash   Balance Sheet   Assets   Cash
  1050-Unapplied Cash   Balance Sheet   Assets   Cash
  1200-Accounts Receivable   Balance Sheet   Assets   Current Assets
  1400-Prepaid Expenses   Balance Sheet   Assets   Current Assets
  1500-Inventory   Balance Sheet   Assets   Current Assets
  1600-Work in Progress   Balance Sheet   Assets   Current Assets
  1700-Accumulated Depreciation   Balance Sheet   Assets   Fixed Assets
  2000-Accounts Payable   Balance Sheet   Liabilities   Current Liabilities
  2010-Vouchers Payable   Balance Sheet   Liabilities   Current Liabilities
  2020-Accrued Expenses   Balance Sheet   Liabilities   Current Liabilities
  2030-Accrued Payroll   Balance Sheet   Liabilities  
  2500-Deferred Revenue   Balance Sheet   Liabilities   Current Liabilities
  3000-Owners Equity   Balance Sheet   Owner's Equity   Equity
  3050-Retained Earnings   Balance Sheet   Owner's Equity   Equity
  3060-Current Year Earnings   Balance Sheet   Owner's Equity   Equity
  3900-Opening Balances   Balance Sheet   Owner's Equity   Equity
  4000-Product Revenue   Revenue   Product Revenue   Product Family 1
  4010-Services Revenue   Revenue   Product Revenue   Product Family 1
  4900-Customer Payment Discounts   Revenue   Product Revenue   Product Family 1
  5000-Cost of Goods Sold   Expense   Cost of Goods Sold   Materials
  5020-Inventory Cost Variance   Expense   Cost of Goods Sold   Materials
  5040-Vendor Payment Discounts   Expense   Cost of Goods Sold   Materials
  5050-Labor   Expense   Cost of Goods Sold   Salaries & Wages
  6000-Marketing    Expense   Sales & Marketing   Marketing Events
  6050-Travel Expenses   Expense   Sales & Marketing   Sales Travel
  6060-Meals and Entertainment   Expense   Sales & Marketing   Sales Travel
  6070-Mileage   Expense   Sales & Marketing   Sales Travel
  6500-Depreciation Expense   Expense   General & Administrative   Software
  7000-Facilities Expense   Expense   Facilities   Rent
  7050-Telecommunications   Expense   Facilities   Utilities
  Distributions of Equity   Cash Flow   Financing  
  Interest Paid   Cash Flow   Operating  
  Interest Received   Cash Flow   Operating  
  Other Financing   Cash Flow   Financing  
  Other Investing   Cash Flow   Investing  
  Other Operating   Cash Flow   Operating  
  Payment for Fixed Assets   Cash Flow   Investing  
  Payments to Employees   Cash Flow   Operating  
  Payments to Suppliers   Cash Flow   Operating  
  Proceeds from Issuance of Debt   Cash Flow   Financing  
  Proceeds from Issuance of Equity   Cash Flow   Financing  
  Proceeds from Sale of Fixed Assets   Cash Flow   Investing  
  Receipts from Customers   Cash Flow   Operating  
  Repayment of Debt   Cash Flow   Financing  
  Taxes Paid   Cash Flow   Operating  

 

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