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 Add on the Maintain Chart of Accounts screen.

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

  4. Input a description for the new G/L under the Description heading.

  5. 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

  6. Input the Budget Group code to which this account should be assigned under the Budget Group heading.

  7. Under the Reversal Account heading, enter 960.00 if it is an income and expense G/L.

    • If not, leave this field blank.

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

  9. SelectUpdate.

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

Learn More

Learn more about adding general ledger accounts.
Learn more about Budget Group codes.