The **GL Classes** feature allows administrators to create and manage categories for grouping General Ledger (GL) accounts. These classes help organize and streamline financial reporting by associating related accounts under specific categories or hierarchies. --- ### **Accessing GL Classes Management** 1. Navigate to **Admin > Finance Setup & Functions > GL Classes**. 2. The **Create or Edit GL Classes** interface will allow you to create new GL classes or modify existing ones. --- ### **Creating a New GL Class** 1. **Click "New"**: - Select `<new>` from the dropdown menu to start creating a new GL class. 2. **Fill in Class Details**: - **GL Class ID**: This is automatically generated when creating a new class. - **Name**: Provide a descriptive name for the GL class (e.g., "Tuition Revenue," "Operational Expenses"). - **Parent Class**: - Use the dropdown menu to assign a parent class, if applicable. - Select **No Parent** if the GL class is a top-level category. 3. **Submit the Class**: - Click **Submit/Save** to create and store the new GL class. --- ### **Editing an Existing GL Class** 1. **Select a Class**: - Use the dropdown menu to choose an existing GL class. 2. **Update Details**: - Modify the name or parent class, as needed. 3. **Save Changes**: - Click **Submit/Save** to apply updates to the GL class. --- ### **Key Features** 1. **Class Hierarchy**: - Organize GL classes into a hierarchical structure by assigning parent classes. This is useful for grouping related financial categories (e.g., grouping "Event Revenue" under "Revenue"). 2. **Streamlined Organization**: - Use GL classes to better organize GL accounts, making it easier to navigate and generate financial reports. 3. **Editable Records**: - Modify existing GL classes as financial reporting needs evolve. --- ### **Best Practices** 1. **Use Descriptive Names**: - Choose clear and specific names for GL classes to make their purpose immediately recognizable. 2. **Leverage Parent Classes**: - Create a hierarchy of GL classes to maintain a clean and logical organization, especially for larger account structures. 3. **Review Regularly**: - Periodically review and update GL classes to ensure alignment with your organization's current financial reporting needs. --- ### **Use Cases** 1. **Revenue Categories**: - Create GL classes for specific revenue streams, such as "Membership Fees," "Event Income," or "Donations." 2. **Expense Tracking**: - Use GL classes to group expenses into categories like "Operational Costs" or "Supplies." 3. **Custom Hierarchies**: - Group related accounts under parent classes for better aggregation in financial reports. --- By organizing GL accounts into manageable categories, the **GL Classes** feature enhances the efficiency and clarity of financial tracking and reporting. For further assistance, contact Support.