The **General Ledger (GL) Accounts** feature allows administrators to create, edit, and manage financial accounts that are crucial for tracking revenue, expenses, and other financial activities. This functionality supports proper categorization and financial reporting for your organization.
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### **Accessing GL Accounts Management**
1. Navigate to **Admin > Finance Setup & Functions > GL Accounts Setup**.
2. The **Add/Edit GL Accounts** interface will allow you to create new accounts or edit existing ones.
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### **Adding a New GL Account**
1. **Click "New"**:
- Select `<new>` from the dropdown to start creating a new GL account.
2. **Fill in Account Details**:
- **Account ID**: Enter a unique identifier for the account.
- **Account Number**: Specify the account number for reference.
- **Account Description**: Provide a description of the account’s purpose or use.
- **Account Category**: Choose a category from the dropdown that best classifies the account.
3. **Set Account Properties**:
- **Active**: Choose "Yes" to make the account active and usable, or "No" to deactivate it.
- **Public**: Set to "Yes" if the account can be viewed publicly or "No" if it is restricted.
4. **Select Account Type**:
- **Credit**: Use for accounts that increase with credits (e.g., revenue).
- **Debit**: Use for accounts that increase with debits (e.g., expenses).
5. **Define Account List Type**:
- Check the appropriate boxes to assign the account to specific functions:
- **Certificate**
- **Discount**
- **Events**
- **Exhibitions**
- **Funding**
- **Membership**
- **Receivable**
- **Sales**
- **Scholarship**
- **Shipping**
- **Supply**
- **Tax**
- **Tuition**
- **Other**
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### **Editing an Existing GL Account**
1. **Select an Account**:
- Use the dropdown menu to choose an existing account.
2. **Modify Details**:
- Update any fields as necessary, including the description, category, or account type.
3. **Save Changes**:
- Click **Save Account** to apply updates.
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### **Key Features**
1. **Account Categorization**:
- Assign categories to GL accounts for better financial organization and reporting.
2. **Custom Account Types**:
- Use list types to align accounts with specific organizational needs (e.g., tuition, funding).
3. **Active/Inactive Control**:
- Enable or disable accounts as needed for streamlined account management.
4. **Public/Private Toggle**:
- Restrict account visibility to internal use or allow public access.
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### **Use Cases**
1. **Revenue Tracking**:
- Create accounts to track income from classes, memberships, events, and other sources.
2. **Expense Management**:
- Use accounts for expenses like supplies, shipping, or scholarships.
3. **Financial Reporting**:
- Categorize accounts to ensure accurate and detailed financial reports.
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### **Best Practices**
1. **Use Descriptive Names**:
- Clearly describe accounts to avoid confusion.
2. **Organize by Categories**:
- Assign appropriate categories and list types for seamless financial reporting.
3. **Deactivate Unused Accounts**:
- Mark inactive accounts to declutter the system while preserving historical data.
4. **Regular Reviews**:
- Periodically review GL accounts to ensure alignment with organizational needs.
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By effectively utilizing the **GL Accounts** feature, organizations can maintain accurate financial records and support robust financial management practices. For additional assistance, contact Support.