Add General Ledger Account to Chart of Accounts

These steps explain how to add a general ledger account to the chart of accounts (COA) for your credit union.

  • Before performing these steps, you may want to review the chart of accounts in order to decide where the best place is for your new G/L.

 

1. Launch tool #202: Chart of Accounts/Budget Groups Maint.

2. Click Full Chart on the Chart of Accounts Maintenance pop-up.

3. Click Add on the Maintain Chart of Accounts screen.

4. Enter the new G/L account number under the G/L Account heading in the first row on the Add New General Ledger Accounts screen.

5. Enter a description for the new G/L under the Description heading.

6. Select the G/L type in the Type drop-down menu.

Asset: 700 range G/L

Expense: 200-400 range G/L

Income: 100 range G/L

Liability: 800-900 range G/Ls

7. Enter the Budget Group code to which this account should be assigned under the Budget Group heading.

Click the Budget Group Maint button on the bottom of the screen to access the Maintain G/L Budget Groups screen where you can create the Budget Group codes.

8. Under the Reverse G/L heading, enter 960.00 if it is an income and expense G/L.

If not, leave this field blank.

9. Keep Active selected in the Status drop-down menu.

10. Click Update.

To locate your new G/L, type the new G/L account number in the Account # field.

Learn More

Learn more about adding general ledger accounts.

Learn more about Budget Group codes.