Chart of Accounts Wizard - Account Code Panel

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

Use this panel to enter an account Code, Status, Title, and Short Title.

 

Code: Enter a new account code, if applicable, or select one from the drop-down list.

Status: Specify the status of the Account Code. When creating a new code, accept the default status, A (Active), or select I (Inactive) or D (Discontinued) from the drop-down list. Below are valid status entries and their descriptions:

• Active (A) - Set an account code to active to allow transaction entry to the account code.
• Inactive (I) - Set an account code to inactive when you do not want to use it regularly for transactions, but you may still need to use it at some point. A warning message appears when you attempt to use an inactive code. The warning message is for notification only; you can still use the code in a transaction. Inactive codes appear on reports.
• Discontinued (D) - Designate an account code as discontinued when you no longer use it. The system does not allow transaction entry to a code with a discontinued status. Discontinued codes appear on reports.

Title: Enter a new account title, if applicable. If an existing code was chosen, the system displays the account title; however, it cannot be edited.

Short Title: Enter a short title for the new account code. It defaults to the first fifteen characters of the title.

Currency: The system displays the functional currency code, such as USD, CAD, EUR, GBP, or MXN, when a General Ledger cash account is selected. This field is only available if you have installed and added the Multicurrency module. If a General Ledger cash account is being created, a Currency code must be selected. The Code drop-down list only contains cash accounts whose currency is the same as the Currency selected on the previous panel. The Currency field is not available once transactions have been posted to the cash account. Currencies were created and activated by the Administrator using the Organization>Currency Setup form.

If the segment, account code, and account type were entered on the Chart of Accounts form, those entries are the default for the first two panels of this wizard.