General Ledger Accounts

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The Chart of Accounts forms the underlying framework for any accounting system, whether automated or manual, and is a very integral part of Orion system operations.

General  

Although the entire Chart of Accounts does not need to be set up for system operation, there are several accounts that must be entered prior to attempting any other accounting data or system configuration input. 

Once you have defined the required General Ledger accounts, you must then set up the General Ledger Default Table. 

Note: It is imperative that the General Ledger Default Table be completed prior to entering any type of payment/credit/write-off transaction or printing any invoices.

The General Ledger Default Table controls the interface between the Billing and Accounts Receivable module, the Accounts Payable module, and the General Ledger module.

 

Next Steps

 

Once you have set up the General Ledger defaults, there are several smaller overhead files you must set up prior to completing the System File. These include:

  • Invoice Styles (Invoice Styles chapter)
  • Cover Sheet Styles (Cover Sheet Styles chapter)
  • Reminder Statement Styles (Reminder Statement Styles chapter)


Setting Up the Chart of Accounts

 

There are several structural and organizational elements to decide on and rules to follow prior to creating the Chart of Accounts. Refer to the Chart of Accounts chapter in the General Ledger Back Office Reference Guide for a discussion on these issues as well as various other functions available in the Chart of Accounts Entry program.

 

This chapter will deal only with the basics you need to know in order to set up the accounts required for correct operation of the Orion interface.

 

List of General Ledger Accounts

 

Following is a list of the General Ledger accounts that must be established prior to setting up the General Ledger Default Table and the Orion System File.

  • Cash in Bank
  • Accounts Receivable Fees
  • Fees Uncollected (Offsets Accounts Receivable Fees)
  • Accounts Receivable Expenses
  • Expenses Uncollected (Offsets Accounts Receivable Expenses)
  • A/R Client Advances
  • Client Advances Unbilled
  • Client Advances Written Off
  • Sales Tax Receivable
  • Sales Tax Offset Account
  • Client Trust Cash Account
  • Trust Liability Account (Offsets Client Trust Cash Account)
  • Unapplied Retainers
  • Fee Income
  • Expense Income
  • Interest Income
  • Sales Tax Payable
  • Accounts Payable (If running on an accrual basis)

 

Steps

 

To set up the General Ledger accounts:

 

  1. Access the Orion General Ledger program. From the Button Bar, click Tools and select Chart of Accounts.
  2. Fill in the fields as required.
  3. When you are finished, click Save or press the F10 key to save the record.

 

Field Descriptions – Account Entry Screen

 

The following table describes the fields on this screen.

 

Field
 Description
Account
 The Account Number for this account. The Account Number is required and must be a unique number if you are not using Department and/or Location Codes.
Inactive
 Selecting this field prevents you from using an account for new entries, but the existing information is still there.
Description
 A description for the account. Text in this field is displayed and saved as typed and not converted to upper case. This account description will print on all reports.
Type
 This is a required field and Orion will not let you go any further if you do not complete it correctly. Keeping in mind debit and credit rules, select Debit if this is a debit account or Credit if it is a credit account.
Budget
 The year and periods used when printing financial statements.
Enter Annual Amount
 Populates all period fields with the same amount.
Usage Notes
 A text entry area for special instructions concerning the account. 


 

Setting Up General Ledger Default Accounts

 

It is extremely important that you complete the General Ledger Default Table prior to proceeding with any daily processing or setting up the Billing program. The purpose of the General Ledger Default Table is to tell Orion what General Ledger accounts to create transactions for when certain procedures are performed in the program.

 

For example, if you create a General Ledger Account “4000 - Fee Income” and enter this as the Default Fee Income account in the General Ledger Default Table, Orion knows that when you post a payment that has paid off fees, it should create a General Ledger transaction that credits account 4000.

 

Steps

 

To set up your General Ledger default accounts for purposes of controlling the interface:

 

  1. Access the Billing Manager program.
  2. From the button bar, click Tools, System Settings, and then select the first Cash Interface Tab.
  3. Enter the Account Number and Department Number in each field for the General Ledger account you want to reference. Repeat for the second Cash Interface Tab. If you do not know the correct Account Number, you can use the F8 key or click the Look-up Button. If you set up the System File to use the Location feature (see the System Information chapter in this guide), you can specify whether or not to use this feature for transactions affecting the general cash account.

 

 

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