Chart of Accounts Wizard - Account Code Options Panel

Access this panel using Maintain>Chart of Accounts Codes> Wizard.

Use this panel to apply a 990 worksheet line number assignment, default statement formats, or dashboard grouping designation to an account, assign a check number, and to determine if non-balancing and restriction type segment codes should be required when using this GL code, during transaction entry.

The Form 990 Line Number reflects the line numbers that correlates to the 990 form version (990Form 990 or Form 990EZ) selected by the Administrator on the Organization>Organization Information form.

 

Designation: Select a code to be used for financial statements formats, the 990 Worksheet, or grouping dashboards. These codes are based on the segment type chosen and the Function designated (N/A, Program, Fund, or Restriction) when the organization was created by the Administrator (File>New Organization). The function can be changed by the Administrator using the Organization>Organization Information form.

Depending on the function designated, once you click Save, the system automatically updates default statement formats (Reports>Financial Statements>Create Statement Formats) according to your specific account codes. Setting up designation codes allows the system to know exactly where this information is being stored in the chart of accounts, enabling the production of the default ASC 958 (FAS 117 superseded)-compliant financial statements.

Form 990 Line Number: This is used to group segment codes to facilitate reporting for the Reports>990 Worksheet. Select the appropriate IRS Form 990 Line Numbers or Column Letter in which the account should be grouped. This field is only available if the current organization's functional currency (selected by the Administrator on the File>New Organization wizard) is USD—US Dollar and if you selected either Form 990 or Form 990EZ as an IRS Tax Form Preference (Organization>Organization Information – Organization Tab).

• If the IRS Tax Form Preference - Form 990 was selected by the Administrator on the Organization>Organization Information form, a line number is required for general ledger segments and segments with a Function of Restriction or Program (Organization>Organization Information>Segments tab). You can also use Reports>Assign Report Groups to make Form 990 Line Number assignments.
• If the IRS Tax Form Preference - Form 990EZ was selected by the Administrator on the Organization>Organization Information form, a line number is only required for general ledger segments.

Last Check Number: Enter the last check number for General Ledger cash type accounts. This number interacts with the Load Checks form.

Required Account Assignments Available, Selected: Required account assignments can be assigned to any GL account code except for Net Assets/Equity—NAE, Revenues—REV, and Expenses/Expenditure—EXP account types. Use the Mover ( > ) to move a code from the Available box to the Selected box. If you are setting up a GL code that is an Interfund Transfers - IFT account type, it is highly recommended that all available segments be assigned as required accounts.