Setup GL Accounts and Accounting Options

1.      Prerequisites:

a.       Read the “GL Features Management Page”, “GL Accounts Management” and “GL Account Types” sections of the chapter of Administrator Manual titled “Features Management Menu in Detail”.

b.      Obtain a copy or print a copy of your Chart of Accounts from your existing accounting or bookkeeping system.

2.      Go to Site Administration Menu.

3.      Click on the Features Go To icon, located in the Site Management section, to go to the Features Management page.

4.      Click on GL Features link to go to the GL Features Management page.

5.      Click on GL Account Types link to go to the GL Account Type Management page.

6.      For each GL Account Type repeat the following steps:

a.       Click Add New GL Account Type link.

b.      Enter GL Account Type name such as “Current Asset” or “Revenue”.

c.       Enter a Statement Name such as “Current Assets” or “Revenue”.  Note that is common for the Statement Name (name used on printed reports such as Income Statement) and GL Account Type name are the same.

d.      Click Save.

7.      Click on Close to return to the GL Features Management page.

8.      Click on GL Accounts link to go to the GL Account Management page.

9.      You will need to create at least on GL Account for each of the following PortalProdigy List Box Types:

§         Revenue

§         Accounts Receivable

§         Inventory

§         Inventory Adjustments

§         Accounts Payable

§         Purchases

§         Cost of Goods Sold

§         Payment Deposit

§         Cash

§         Sales Tax Revenue

§         Shipping Revenue

§         Funds

§         Unfulfilled Receivables

§         Unfulfilled Sales Tax Revenue

§         Unfulfilled Shipping Revenue

§         Sales Returns & Allowances

10.  For each GL Account repeat the following steps:

a.       Click Add New GL Account link.

b.      Enter the GL Account Number such as “4000”.

c.       Using the drop down list box, select one of the GL Account Types you defined in the previous steps such as “Revenue”.

d.      Using the drop down list box, select a GL List Box Type such as “Revenue”.  GL List Box Types are used to map your account types to PortalProdigy’s account types.

e.       Click Save.

11.  Click on Close to return to the GL Features Management page.

12.  You are finished.