Account Group
Enter the account group code. Account groups are assigned to each main account and are used to group accounts on various reports. Default account groups with predetermined group code ranges are initially created during new company setup using the General Ledger Setup Wizard. Record 0000 is the only default that cannot be deleted.
The size of the account group is dependent on the size defined for the main account segment (3-15 characters) in Account Structure Maintenance. For example, if the main account's segment size is defined as three characters, the account group will be three characters. The account group can be either numeric or alphanumeric. A numeric account group code applies to all main account numbers between the beginning number of the account group to, but not including, the beginning number of the next account group. After main accounts are created and assigned to an account group code in Main Account Maintenance, the account group code cannot be deleted. For more information, see Create an Account Group.
Example - How an Account Group is Assigned to a Main Account
Consider account group codes:
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0000 Current Asset
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2000 Liability
Main accounts from 0000 to 1999 are assigned to account group 0000 Current Asset. Main accounts from 2000 and higher will be assigned to account group 2000 Liability.
Description
Enter a description of up to 40 characters for the account group. This description is used as a heading to describe each account group on the Chart of Accounts, General Ledger Worksheet, Trial Balance, and Financial Reports.
Entry Sample
Category
Select a category for the account group. Categories are used during the printing of Financial Reports.
Note: Account groups that are assigned the category of Non-Financial do not print on Financial Reports.
Account Type
Select an account type for the account group. You must select a category for the account group before selecting an account type; the account types available for selection are dependent on the category selected. The account type selected is used as the default account type when creating new main accounts assigned to this account group. The account types are used in the calculation of financial ratios on the General Ledger Analysis and Business Insights Key Ratios Web page.
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Assets
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Cash
Net Accounts Receivable
Other Receivables
Inventory
Prepaid Expenses
Other Assets
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Liabilities
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Current Liabilities
Long Term Liabilities
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Equity
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Stockholder Equity
Retained Earnings
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Revenue
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Net Revenue
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| Cost of Sales |
Cost of Sales |
| Expenses |
Operating Expenses
Interest Expense
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| Other Income & Expense |
Other Income & Expense
Interest Expense
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| Income Tax |
Income Tax |
| Non-Financial |
Non-Financial |
Cash Flow Type
Select a cash flow type for the account group. The cash flow type selected is used as the default cash flow type when creating new main accounts assigned to this account group. The cash flow type is used to determine where the account will print on the Statement of Cash Flows that is part of the Financial Reports.
Account Group Maintenance
