Deciding Which Chart Of Accounts To Use - Activant Dimensions Getting Started

Chapter 7. General Ledger

Deciding Which Chart of Accounts to Use

Review the sample General Ledgers in the last section of this chapter, Sample
General Ledgers. Dimensions strongly recommends that you use one of the
standard charts of accounts to help get the General Ledger up and running fast
for the following reasons:
1 Saves set up time. You can get going a lot quicker using one of the standard
chart of accounts. The numbering scheme is already established and there are
financial statements already designed to go with the chart of accounts.
2 The Variable File entries for G/L integration accounts are already set up.
No wondering if you made all the necessary entries for G/L integration from the
other accounting modules.
3 All of the unique G/L accounts which interface to other modules are
already included in the chart of accounts. You are assured that Accrued A/P,
Purchase Price Variance, Receipt Value Adjustment, and other accounts are
prepared correctly.
4 Multi-store situations are easier to format financial statements and to
add store records. If you add a new store, updating the G/L chart of accounts is
very simple.
If you decide to operate with a custom G/L, you must contact Dimensions to get
additional training to make sure the set up is correct. To use a custom G/L, you
must make sure the following areas are completed:
1 Enter all accounts into the G/L Master File (GM1.D). This includes
developing a numbering system and making sure all unique Dimensions G/L
accounts are added correctly.
2 Set up the formats for all financial statements in the G/L Format Master
File (GM2.D). The P&L (income statement) and Balance Sheet cannot be
printed until the format has been designed and established in the G/L Format
Master File. If more than one P&L is required, each one must be designed
separately.
3 Enter all Variable File account numbers for G/L integration. All
Dimensions accounting modules post transactions to the General Ledger so they
require the proper G/L integration accounts set up in the Variable File.
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