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The next time you generate account plans, your balance statement will show the total cash balance and two balance lines for cash and checking account.
Dependencies and assumptions
Additional dial settings may be required to complete.
This documented area describes the basic setup of the Chart of Accounts / G/L Account Card. Settings for G/L Account Categories are not described here.
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Set Up or Change the Chart of Accounts (contains video) - Business Central | Microsoft Learn
Dependencies and assumptions
Additional dial settings may be required to complete.
Chart of Accounts Setup
Adding new accounts to the Chart of Accounts is done using the New button. When it is launched, the G/L Account Card opens and the fields in the General and Posting tabs are set.
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For each G/L account, you can preset the Dimensions usage rules using the Dimensions table available in the G/L Account Card under the Account option. Setting up dimension rules is recommended primarily for profit and loss accounts.
Field Description of field settings:
No. and Name fields
Set up business units as needed
Income/Balance field
Specifies whether the general ledger account is an income statement account or a balance sheet account. This setting then affects the Close Income Statement, Close Balance Sheet, and Open Balance Sheet tasks. Balance sheet – the balance of the account is carried over to the next period at closing)
Account Type field
Specifies the purpose of the account.
Account (Posting) – set up the general ledger account to which the posting will be made.
Total – used to sum up a series of account balances from many different account groups. The summation formula is user-defined
Begin-Total - a mark for the beginning of the series of accounts to be summed and ends with the End-Total account.
End-Total - mark for the end of the series of accounts to be summed and start on the previous account Begin-Total.
Automatic Ext. Texts field
Specifies that extended text is automatically added to the account. In order to actually add them, they must first be set. The settings are made:
Extended Texts
can be defined for a multi-line name or language mutations can be set. The table is available in the main menu of the card under the Account option.
To define extended text:
On the card of the account to which you want to add extended text, choose the Extended Texts action
Select New.
Fill in the Description field
If necessary, fill in the Language Code or tick All Language Codes
Fill in the Starting Date and Ending Date fields if you want to limit the dates when extended text is used.
In the Text box, type the extended text.
Select the appropriate check boxes for the document types in which you want to insert extended text.
Use of extended text in documents (e.g. on a purchase/sales line)
If Automatic Ext. Texts = Yes is set on the general ledger account, then after inserting the general ledger account into a row, the system will automatically copy the set extended text into the new lines
If Automatic Ext. Texts = No is set on the general ledger account, then it is necessary to use the Insert Ext.Texts function on the document line to insert the set extended text
Direct Posting
Specifies whether you will be able to post directly or only indirectly (through posting groups) to this G/L account. If = Yes, they can be posted directly in the purchase/sales document or in the journal. Setting =No is entered for accounts where primary records exist (assets, banks, cash registers, warehouse, customer, supplier...).
Closed (Blocked)
If it is set to Yes, then the account is closed for posting and does not even appear in the accounts menu when used in a journal or purchase/sales document.
G/L Account Group
Specifies the type of G/L account group to use to define accounting headings.
Financial Accounting - default option
Internal Accounting
Off-Balance Sheet Account
When you create an accounting document, for example in a general journal, the system does not allow you to use different groups of the general ledger account for the same document.
Omit the eastern description in the journal (Omit Default Descr. in Jnl.)
Specifies whether a default description is automatically inserted in the Description field on the journal lines created for this G/L account. If = Yes, then the system will not populate the Description field in the journal, but it will remain blank.
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Field settings in the Posting tab are performed only for accounts that include VAT calculation, typically profit and loss accounts. For example, this tab is not set for customer, supplier, bank or asset accounts.
Field Description of field settings:
Gen. Posting Type
In this field, you can select the Gen. Posting Type that you want the program to use when posting to this account. The code defines whether the account will be used only in connection with sales or purchase transactions, or both. The Gen. Posting Type field must be filled in only for income and expense accounts that include VAT. For other accounts, choose Empty. The following options are available:
<prázdný> (<blank>) – Select this option for accounts used for transactions that do not involve VAT calculation.
Purchase - Select this option if the account will be used for purchase transactions. The program uses the information to calculate the correct amount of purchase VAT and then posts it to the purchase VAT account.
Sale – Select this option if the account should be used for sales transactions. The program uses the information to calculate the correct amount of sales VAT and then posts it to the sales VAT account.
If you post entries to this account, if the Gen. Posting Type field does not contain a value of Blank, the program will automatically generate entries in the VAT Entry table.
Gen. Bus. Posting Group (Gen. Bus. Posting Group)
Specifies the type of vendor or customer deal to link transactions made for this business partner to the corresponding general ledger account according to the general posting setup.
Gen. Prod. Posting Group
Specifies the type of product entry to link transactions for this entry to the corresponding general ledger account, according to the general setup for posting transactions.
VAT Bus. Posting Group)
Specifies the VAT specification of the relevant customer or vendor to link transactions made for this record to the appropriate general ledger account according to the VAT posting setup.
VAT Prod. Posting Group
Specifies the VAT specification of the related item or source to link transactions made for this record to the appropriate general ledger account according to the VAT posting setup.
Account to Apply (Apply Entries)
Specifies one or more entries that you want to apply this record to so that the related posted documents are closed, paid, or refunded.
Default Deferral Template
Specifies the default accrual template, which controls how to differentiate between income and expense based on the period in which they occurred. To set it, a Accrual Code is selected from the Deferral Templates list.
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The settings are made in the Deferral Template Card, which is available from the Deferral Templates overview.
Field Description of field settings:
The Calculation Method field (Calc. Method)
Specify how the Amount field is calculated for each period. You can choose between the following options:
Straight-Line: Regular deferred amounts are calculated by the number of periods, divided by the length of the period.
Equal per Period: Recurring deferred amounts are calculated by the number of periods evenly distributed by period.
Days per Period: Periodic grace amounts are calculated by the number of days in the period.
User-Defined: Periodic deferral amounts are not calculated. On the Deferral Schedule page, you must manually fill in the Amount field for each period.
Start Date field
Specifies when to start calculating accrual amounts. With this setting in mind, the system calculates an accrual schedule. Options are available:
Posting Date
Beginning of Period
End of Period
Beginning of Next Period
Beginning of Next Calendar Year
Period Description Field
Specifies the text that will be displayed for accrual posting entries. You can use parameters in the description:
%1 = Day number of the posting date of the period
%2 = Week number of the posting date of the period
%3 = Month number of the posting date of the period
%4 = Month name of the posting date of the period
%5 = Name of posting date of the period
%6 = Fiscal year of the posting date of the period
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