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Account Codes

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This tab is used to define, as well as maintain account codes which will be used in setting up the company's chart of accounts. Account code details such as class (Balance Sheet or Income Statement), level (Division or Cost Centre), status (active or inactive) and effective dates and rules relating to account code applications are set up on this tab.

 

The following fields can be viewed:

 

hmtoggle_plus1Add

The user must have a security profile linked to the function Account Codes with an access allowed of Add.

 

The Add button is only enabled when data is captured in the Code field. When the Add button is clicked, the new code is inserted into the Account Codes table.

 

BUSINESS RULES WHEN ADDING A NEW ACCOUNT CODE:

 

1.  The account code cannot be spaces or blank.

2.  The account code description cannot be less than 4 characters.

3.  The account code status must either be Active A or Suspended S.

4.  The account code level must either be Division D or Cost Centre C.

 

hmtoggle_plus1Application(s) Linked To Account Code

The Application(s) Linked To Account Code list box, displays all the applications linked to the selected account code.

 

The following would be taken into consideration when linking applications to Account Codes:

 

The Account To Bank application is applicable to the Account field on the Bank Transaction function.

 

The Additional Cost Creditors application is applicable to the Account field on the Invoice Line Links tab, of the Creditors function.

 

The Additional Cost Debtors application is applicable to the Account field on the Invoice Links tab, of the Debtors function.

 

The Advanced Payments Creditors application is applicable to the Account field on the Invoice Line Links tab, of the Creditors function.

 

The Advanced Payments Debtors application is applicable to the Account field on the Invoice Links tab, of the Debtors function.

 

The Advance Suspense application is applicable to the Account Advance Suspense field on the Bank Internal tab, of the Bank Internal function.

 

The Asset Accumulative Depreciation application is applicable to the Accumulative Depreciation Account field on the Depreciation tab, of the Asset Information function.

 

The Asset Control application is applicable to the Asset Control Code field on the Information 1 tab, of the Asset Information function.

 

The Asset Depreciation application is applicable to the Depreciation Account field on the Depreciation tab, of the Asset Information function.

 

The Asset Profit/Loss application is applicable to the Profit Loss Code field on the Disposal tab, of the Asset Information function.

 

The Asset Revaluation application is applicable to the Debit Account and Credit Account fields on the Financial History tab, of the Asset Information function.

 

The Bank application is applicable to the General Ledger Account field on the Bank internal tab, of the Bank Internal function.

 

The Bank Suspense application is applicable to the General Ledger Suspense Account fields on the Bank Internal function.

 

The Bank To Account application is applicable to the Account field on the Transaction Details tab, of the Bank Transaction function.

 

The Bank To Employee application is applicable to the Account field on the Transaction Details tab, of the Bank Transaction function.

 

The Bank To Organisation application is applicable to the Account field on the Transaction Details tab, of the Bank Transaction function.

 

The Bank To Other application is applicable to the Account field on the Transaction Details tab, of the Bank Transaction function.

 

The Creditors Control application is applicable to the Account field on the Creditors function.

 

The Creditors Credit application is applicable to the Account field on the Creditors Credit function.

 

The Currency Fluctuation application is applicable to the Debtors Fluctuation Account Code and the Creditors Fluctuation Account Code fields on the Currency Codes function.

 

The Debtors Control application is applicable to the Account field on the Debtors function.

 

The Debtors Credit application is applicable to the Account field on the Debtors Credit function.

 

The Employee Expenses Requisition application is applicable to the Account field on the Requisitions function.

 

The Employee To Bank application is applicable to the Account field on the Transaction Details tab, of the Bank Transaction function.

 

The Grouping Requisition application is applicable to the Account field on the Requisitions function.

 

The Hand Journal Posting application is applicable to the Account field on the Hand Journals function.

 

The Maintenance Requisition application is applicable to the Account field on the Requisitions function.

 

The Node application is applicable to the Account field on the Node function.

 

The Node Provisioning application is applicable to the Account fields on the Node function.

 

The Non-Stock Purchase Requisition application is applicable to the Account field on the Requisitions function.

 

The Order Issue Requisition application is applicable to the Account field on the Requisition function.

 

The Order Requirements To Scrap application is applicable to the Account  field on the In Grid tab, of the Order Requirements To Scrap Movement function.

 

The Organisation to Bank application is applicable to the Account field on the Transaction Details tab, of the Bank Transaction function.

 

The Sales application is applicable to the Account field on the Customer Orders function.

 

The Service Requisition application is applicable to the Account field on the Requisitions function.

 

The Stock Purchase Requisition application is applicable to theAccount field on the Requisitions function.

 

The Stores Issue Requisition application is applicable to the Account field on the Requisitions function.

 

The Store To Scrap application is applicable to the Scrap Account field on the Store To Scrap Movement function.

 

The Tax Adjustment application is applicable to the Creditors function.

 

The Transport Requisition application is applicable to the Account field on the Requisitions function.

 

hmtoggle_plus1Change

The user must have a security profile linked to the function Account Codes with an access allowed of Change.

 

When the Change button is clicked, the Account Codes table will be updated with any new/changed data for the selected account code.

 

The class or level of an account code may not be changed if there are accounts linked to the account code.

 

BUSINESS RULES WHEN CHANGING AN ACCOUNT CODE:

 

1.  The account code cannot be spaces or blank.

2.  The account code description cannot be less than 4 characters.

3.  The account code status must either be Active A or Suspended S.

4.  The account code level must either be Division D or Cost Centre C.

 

hmtoggle_plus1Class

The class is used to indicate whether the Account Code, and therefore all the Accounts linked to it, is Balance Sheet B or Income Statement I (mandatory).

 

This setting affects the way in which the Non Posting Entity combo box is populated.

 

hmtoggle_plus1Delete

The user must have a security profile linked to the function Account Codes with an access allowed of Delete.

 

The Delete button is only enabled if the option Code is selected. When the Delete button is clicked, the selected account code is removed from the Account Codes table.

 

This operation will not be performed if the Account Code exists on any of the following:

 

Table Name

Field Name

Account Codes

Account Code

Resource

Account Code

Account

Code

Bank Internal

Advance Suspense Code

External Organisation

Debtors Account

External Organisation

Creditors Account

 

hmtoggle_plus1Description

This field displays a short description of the Account Code selected.

 

When doing an inquiry on an existing Account Code, this field displays the description of the selected account code from the Account Codes table.

 

It is an alphanumeric field, where the length must be between 4 and 50 characters (mandatory).

 

hmtoggle_plus1Level

The account code level can either be a Cost Centre C or a Division D,  indicating whether the Account Code is to be used for Cost Centres or for Divisions.

 

If the Account Code is set, for example, for a Division, Cost Centre Accounts cannot be linked to it.

 

hmtoggle_plus1Tax Claimable

When ticked, tax is claimable according to tax regulations.

 

This indicates whether tax is to be included or excluded from the Tax Code of the requisitioned amount.

 

hmtoggle_plus1Tax Code

It is populated with the active Tax Codes from the Tax Code table.

 

When tax transactions are performed, the Tax Code will be deduced from the Account Code on the following scenarios:

 

1.All bank transactions
2.Creditor invoices linked without a reference - the Account being mandatory, the Tax Code from the Account's Account Code will be used.
3.Debtor invoices linked without a reference - the Account being mandatory, the Tax Code  from the Account's Account Code will be used.

 

hmtoggle_plus1Search Accounts By

To find an Account Code, you can either search by the Code (the Account Code uniquely identifying an account grouping.  Each Account belongs to an Account Code), or by the Description (a short description for the Account Code selected).

 

It is populated with the Account Code and Description from the Account Codes table.

 

hmtoggle_plus1Status

An Account Code can either be Active A or Suspended S.

 

The default status is Active with the current date as the default Active From Date.

 

If Suspended S, the system will not allow more Accounts to be linked to the Account Code on the Account Codes table.

 

The system will allow outstanding commitments, such as requisitions, to be completed, but no new commitments or budgeting will be allowed against the suspended accounts.

 

The Active From Date, or Suspended From Date, is used in conjunction with the Account Code Status to specify when an Account Code becomes Active or Suspended.

 

A status change can be made effective at a futuredate by using the Active From Date, or Suspended From Date.