2. From the Desktop, click on Accounting > Operations > Account Transactions

Transcription

1 Pre-Programmed Default General Ledger Accounts in Partner XE To Access 1. From the Desktop, click on the Accounting Icon The Daily Processing screen will come up From within Accounting click on Account Transactions in the left tree view 2. From the Desktop, click on Accounting > Operations > Account Transactions To access, the user must have the following permissions in Partner XE Admin: 1. Chart of Accounts (COA) 2. View COA Transactions 3. Add / Edit COA Account 4. Activate / Inactivate COA Account 5. Delete COA Account 6. Display Balances 7. Budget 8. View Journal Entries 9. Add / Edit Journal Entries 10. Unpost Journal Entries 11. View Account Transactions Screen 12. View General Journals 13. Month End Closing 14. Year End Closing

2 Account Format 1. Accounts Assets are Debit Accounts The exceptions are any Accumulated Depreciation Accounts (162500; ; ; ) which are Credit Accounts 2. Accounts Liabilities are Credit Accounts Apply a Credit to Increase and Debit to Decrease 3. Accounts Equity are Credit Accounts Apply a Credit to Increase and a Debit to Decrease 4. Accounts Income / Sales are Credit Accounts Apply a Credit to Increase and a Debit to Decrease 5. Accounts are skipped (these are Cost of Goods Sold) Most agencies do not use these but can add them if needed - Debit Accounts 6. Accounts Operating Expenses are Debit Accounts 7. Accounts Sales Expenses / Other Expenses are Debit Accounts 8. Chart of Accounts format is set up as follows: Account Divisions will be set at a Level 1 Account Categories will be set at a level 2 Accounts will be set at a level 3 This is the level to be used when adding new accounts. Pre-Programmed Default Accounts Account # Account Name Account Type Type Current Assets Account Division N/A Cash Accounts Account Category N/A Checking Account Cash Debit Savings Account Cash Debit Petty Cash Cash Debit Premium Trust Account Cash Debit Branch Transfer Reference Other Current Asset Debit Other Receivable Account Account Category N/A Accounts Receivable Accounts Receivable Debit Notes Receivable Accounts Receivable Debit Company Receivables Account Category N/A Company Receivables Default Accounts Receivable Debit Marketable Securities Other Current Assets Debit Prepaid Expenses Account Category N/A Prepaid Insurance Other Current Assets Debit

3 Prepaid Rent Other Current Assets Debit Prepaid Utilities Other Current Assets Debit Prepaid Interest Other Current Assets Debit Prepaid Expenses Other Current Assets Debit Non Current Assets Account Category N/A Automobile Fixed Assets Debit Acc. Depr.- Automobile Accum Depreciation Credit Furniture & Fixtures Fixed Assets Debit Acc Depr - F&F Accum Depreciation Credit Office Building Fixed Assets Debit Acc. Depr-Office Building Accum Depreciation Credit Rental Building Fixed Assets Debit Acc. Depr.-Rental Building Accum Depreciation Credit Intangible Assets Other Assets Debit Misc. Assets Other Assets Debit Current Liabilities Account Division N/A Accounts Payable Accounts Payable Credit Payroll Taxes Payable Taxes Payable Credit Sales Taxes Payable Taxes Payable Credit Income Taxes Payable Taxes Payable Credit Wages Payable Other Current Liabilities Credit Unearned Revenue Other Current Liabilities Credit Interest Payable Other Current Liabilities Credit Notes Payable Other Current Liabilities Credit Long Term Liabilities Account Category N/A Notes Payable Long Term Liabilities Credit Interest Payable Long Term Liabilities Credit Producer Payables Account Category N/A Payable - Administrator Accounts Payable Credit Producer Payables Default Accounts Payable Credit Company Payables Account Category N/A Company Payables Default Accounts Payable Credit Long Term Equities Account Division N/A Common Stock Equity Credit Retained Earnings Equity Credit Capital Investment Equity Credit Sales Account Division N/A Direct Bill Sales Commission Account Category N/A Direct Bill Sales Comm Sales Credit Default Agency Bill Sales Commission Account Category N/A Agency Bill Sales Comm Sales Credit Default Other Company Income Account Category N/A Other Company Income Sales Credit Default Life and Health Sales Account Category N/A Commission Life and Health Commission Sales Credit Sales Discount Sales Credit Sales Write Off Sales Credit

4 Other Income Account Category N/A Interest Income Sales Credit Finance Charge Income Sales Credit Consulting Services Sales Credit Other Income Sales Credit Operating Expenses Account Division N/A Postage Expense Debit Rent Expense Debit Repairs & Maintenance Expense Debit Supplies Expense Debit Utilities Account Category N/A Telephone Expense Debit Electric Expense Debit Gas Expense Debit Water Expense Debit Office Equipment Expense Debit Insurance Expense Debit Amortization Expense Debit Automobile Expense Debit Bad Debt Expense Expense Debit Bank Service Charges Expense Debit Credit Card Fees Expense Debit Depreciation Expense Debit Computer Software Expense Debit Sales Expense Account Division N/A Advertising Expense Debit Consulting Fees Expense Debit Producer Expense Expense Debit Broker Expense Expense Debit Appraisal/MVR expense Expense Debit Other Expenses Account Category N/A Meals & Entertainment Expense Debit Payroll Expense Debit Payroll Tax Expense Expense Debit Travel & Transportation Expense Debit Misc. Expense Expense Debit Income Tax Expense Debit Payable Write Off Expense Debit Accounting Expense Expense Debit Interest Expense Expense Debit

5 The following Accounts should not be altered which means: Cannot make the Account Inactive thru the chart of accounts Cannot change the Account Number Cannot make entries to the Account thru General Journal Entries (all entries should be system generated) The user can do the following actions: o Change the Account Name o Add a Reporting Group o Add Remarks Accounts Receivable thru Company Reserved Receivable Accounts Accounts Payable thru Company Reserved Payable Accounts Retained Earnings thru Company Reserved Direct Bill Sales Commissions thru Company Reserved Agency Bill Sales Commissions thru Company Reserved Other Company Income Sales Discount Sales Write Off Finance Charge Income Other Income Producer Expense Payable Write Off The following Accounts Cannot be altered which means: They are locked accounts and cannot be edited These accounts are known as Permanent accounts Account Divisions and Account Categories will not allow the user to make entries to them. Account Account Name Account Type Number Current Assets Account Division Cash Accounts Account Category Branch Transfer Reference Other Current Assets (Inactive account) Other Receivables Accounts Account Category Company Receivables Account Category Company Receivables Default Accounts Receivable Prepaid Expense Account Category Non Current Assets Account Category

6 Current Liabilities Account Division Long Term Liabilities Account Category Producer Payables Account Category Producer Payables Default Accounts Payable Company Payables Account Category Company Payables Default Accounts Payable Long Term Equities Account Division Sales Account Division Direct Bill Sales Commission Account Category Direct Bill Sales Commission Default Sales Agency Bill Sales Commission Account Category Agency Bill Sales Commission Default Sales Other Company Income Account Category Other Company Income Default Sales Life and Health Sales Commission Account Category Other Income Account Category Operating Expense Account Division Utilities Account Category Sales Expense Account Division Other Expenses Account Category