General Ledger - Chart of Accounts - GL

a. The fields are organized into several tabs of information:
b. Refer to the sections below for a description of the tabbed input fields for GL account.

c. Click on the SAVE button to save the GL account into the database; click on the CANCEL button to discard your changes.

1. Select a GL account to edit:
2. The Chart of Account Details page will appear. Make changes as necessary. Refer to the sections below for a description of the various tabbed input fields for a GL account.

3. Click on the UPDATE button to save your changes. Click on the CANCEL button to discard your changes.

1. Select a GL account to delete by clicking on the "Edit" link for that account on the Chart of Accounts page.

2. The Chart of Account Details page will appear. Scroll to the bottom of the page.

3. Click on the DELETE button to remove the GL account from the LegalSuite database.

4. You will be asked to confirm that you wish to delete the account. Click on "OK".

5. The GL account will be deleted from the LegalSuite database. It will no longer be seen on the Chart of Accounts page.

1. GL Account # – Enter an account number for the account. Accounts can be grouped by type and numbered using a convention similar to the following:
2. Description – Enter a description or account name to be associated with the account number.

3. Type – Select from the pull-down menu a type for this account. The type is used to group a set of accounts that use a numbering scheme as described above. Example of types would be: asset, capital, expense, income, or liability.

Here is an example of how the account number, account name, and account type can be used. You can have 2 accounts that are of type “asset”. One asset account could be named “Cash” and assigned an account number of 11000. The second asset account could be named “Accounts Receivable” and assigned an account number of 11200.

4. Reconcile Bank Statement – Check this box if you want to periodically confirm the bank statement amounts with the general ledger amounts for this account, in other words reconcile the bank statement.

1. Bank # - Every bank is assigned a number. Enter the number here.

2. Bank Name – Enter the name of the bank where all transactions for this account is processed.

3. Address 1, Address 2 – Enter the address for the bank specified.

4. Bank Account # – Enter the account number at the bank that was established for this general ledger account.

5. Bank Routing # – Enter the nine digit bank code that is used to identify which financial institution funds are being drawn from for this account.

1. Select Year – Select from the pull-down menu a year for the budget.

2. Year to Date – This non-editable field displays you budget amount for the year to date.