Business Central allows designing a Chart of Account (COA) according to the accounting need and requirements of the company. You can delete and create a new General ledger or G/L account in COA. Chart of Accounts can be accessed from Finance >> Chart of Accounts.
We are going to create a new G/L for Customer EU. If we want to make an account under a particular group, then we have to select an account number accordingly. In our case, all accounts receivables come in between 13000 to 13400 so we will assign the account no. that will appear in a sequence with other accounts of this group. Organize COA by using heading, and totaling options available in account type of G/L card. Go to the “New” option to create an account.
In the G/L account card fill in all the relevant details. Specify whether this account belongs to Income Statement or Balance Sheet, and select its category and sub-category. Either it is a posting account or just a Heading or any other type. To use this account in transactions, allow/enable direct posting.
Similarly, fill in the relevant details in posting, consolidation, and other tabs.
After filling in the relevant details go back to the Chart of Accounts, the New account appears in the list and whenever a transaction is made involving this account Net change and Balance fields will be populated.
Delete G/L Account
View, edit, and delete the G/L account by clicking on three dots. To delete an account, the balance must be zero as you cannot delete an account having a balance in it.
This blog covers the creation of the G/L account. accsoft has years of experience in implementing Microsoft Dynamics ERPs. For further assistance and to make us your implementation partner reach us at info@localhost