Adding a New General Ledger Account

The Chart of Accounts forms the underlying framework for any accounting system and is such an integral part of Orion system operations it must be set up before you attempt any other accounting data or system configuration input.

To add a new account to your General Ledger, open GL Manager and choose TOOLS, Chart of Accounts.  The following screen will appear:

Fill in the fields as required.

1.  Account Number - the account number for this account.  This must be a unique number and the length of the number and whether or not a Department Code and/or Location Code can be entered is controlled by GL System Settings.

2.  Inactive - this field is used to inactivate previously existing accounts.

3.  Description - enter a description for this account (i.e., Office Supplies).  This account description will print on all reports and appear in all GL Account Look-Ups.

4.  Type - Select whether or not this account is a debit account or a credit account.  Typically, asset and expense accounts are debit accounts, liability and income accounts are credit accounts.

5.  Budget - enter an annual budget (Orion will divided annual budget by 12 and populate the 12 periods for you) or enter a budget in each individual period for the specified Budget Year.

6.  Usage Notes - enter any Notes you would like on this account (i.e., Use this only for XXXX).  When performing account look-ups, you have the option of displaying the Usage Notes in the Look-Up.  You may also display Usage Notes in the GL Manager, Accounts grid.

Once you have completed all necessary fields, click SAVE to save your new account.  

NOTE: You need to make sure your Financial Statement styles include the new accounts.  Depending on the design of your styles, the new account may or may not automatically be included in the Balance Sheet and/or Income Statement.