If you decide to manually create the balancing accounts, you must define a large variety to match each combination of values for the fund element, the defined balancing account controlling element, and any additional static elements.
It's easier to set up balancing accounts by defining balancing account controlling elements for certain account types and setting AptaFund to automatically generate balancing accounts using the controlling elements.
Select Chart of Accounts from the Chart of Accounts menu, and this window opens.
Select the Accounting Cycle to which you want to add an account. Note: The list includes all open accounting cycles in the system.
Select the Account Type Group to which you want to add an account, and any existing accounts are now displayed. Sample window
Click Add, and the Chart of Accounts Detail window opens with pull-down lists for each element in the selected account structure. Note: This window will reflect your organization's account format(s).
Complete the fields as described.
Select an element value from the pull-down lists.
Select the desired values for the fund element and any other static elements.
Select a controlling element value designated as a required balancing account type.
Don't select values for the other elements.
Account Type: The list will include the account types for the selected account type group.
Description: This field is editable if the Account Code Description Override parameter is set to Yes in System Configuration. When editable, either enter text or leave the field blank if you want the account code to use the description from the controlling element value plus any other element values that have descriptions.
Check the Create Another box if you want to add more accounts without returning to the Chart of Accounts window.
Click Save.
Return to Chart of Accounts Window Overview
Version
4.1 © 2020 - Harris School Solutions - All rights reserved