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Account Group Maintenance

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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:

• 0000 Current Asset

• 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

Current Assets

 

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.

Category	Account Types Available
Assets	Cash Net Accounts Receivable Other Receivables Inventory Prepaid Expenses Other Assets
Liabilities	Current Liabilities Long Term Liabilities
Equity	Stockholder Equity Retained Earnings
Revenue	Net Revenue
Cost of Sales	Cost of Sales
Expenses	Operating Expenses Interest Expense
Other Income & Expense	Other Income & Expense Interest Expense
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.