Maintain Chart of Accounts

Screen ID: UGLACS1C
Screen Title: Maintain Chart of Accounts
Panel ID: 5548
Tool Number: 202
    Click here to magnify

This screen appears when you select Tool #202 Chart of Accounts/Budget Groups Maint

This screen lists all G/L accounts in order by account number, and can be used to add new accounts, maintain descriptions and other settings for existing accounts, or to suspend or delete unused accounts from your Chart of Accounts. (Click here for a description of the columns shown in this list.)

  • WARNING: Deleting an account that has had any activity may cause problems when comparing historical data. Contact a CU*BASE representative before attempting to delete an account with any history.

Use the Budget Group Maint button to access the Maintain G/L Budget Groups screen to create the group codes.  Budget Groups are used when calculating your budget in CU*BASE and when using the Budget Variance Analysis.  SEE ALSO: Budgeting with CU*BASE

Search/Filter Options

  • To scroll through the list to a particular account, enter the number into the Position to account # field and press Enter.

  • To look for an account by the description, enter any word or phrase into the Contains description field and press Enter. For example, if you enter CASH into the search field, the system will display all G/L accounts where that text appears anywhere in the description (such as CHECK CASHING FEES or CASH ADVANCES)

  • To view only accounts tied to a particular Budget Group, use the Select button and choose a budget group from the selection window (only one can be selected at a time

  • Use the other filter features to display or exclude your cash accounts, or show only suspended or active accounts, or to list only a certain G/L type (asset, expense, income, or liability).

Setting Up/Maintaining G/L Accounts

  • To modify parameters for an existing account, select the item in the list and use Change to display the individual account maintenance screen.

  • To add one or more new accounts, use Add (F10) to display the Add New General Ledger Accounts screen.

  • To suspend a G/L account, select it and then use Suspend. A confirmation window will display. Once suspended, an “S” appears in the Status column to indicate that the G/L account is suspended.  

    • Generally, when you suspend a G/L, journal activity cannot occur on a suspended G/L account.  Any balance in the account will remain, but the account cannot be used for any posting.  However, there may be some places, such as configurations driven by the specific suspended G/L (that were configured prior to the G/L being suspended) that still will use the suspended G/L.  For this reason, if you wish there to be no activity on the G/L, it is recommended that you delete the G/L.  (Please note the warnings below for deleting a G/L.)

    •  IMPORTANT: Remember that if you have tied this GL to any misc. posting codes, such as for misc. receipts, you will need to suspend or adjust those posting codes as well. Otherwise they can be used to post coded account adjustments, misc. receipts, or other transactions.

  • To reactivate a suspended G/L account, select it and then use Reactivate. A confirmation window will display.  Once reactivated, an “A” appears in the Status column to indicate that the G/L account is active.

  • To delete a G/L account, select it and then use Delete (Remember that G/L accounts should generally be deleted ONLY if there is no prior history for that account.)

WARNING: Deleting an account that has had any activity may cause problems when comparing historical data. Contact a CU*BASE representative before attempting this procedure on an account with any history.

Account Number Groups

Use the following guidelines are recommended when setting up your chart of accounts:

Account Type

Account Number Group

Income

100 series

Operational Expenses

200 series

Membership Expenses

300 series

Assets*

700 series

Liabilities

800 series

Equity

900 series

  • *The change fund account (cash on hand) is usually 739.00 and the credit union's depository bank account is usually 731.00.

Related Topics

NCUA Recommended Chart of Accounts

Understanding Suspense, Clearing and Settlement Accounting