The purpose of this article is to provide the steps to setup a new Cash Account in REALedger.
To add a new GL code, navigate to GL>>Maintenance>>Chart of Accounts and click Add.
Enter a unique five digit GL Code that begins with “1″.
Enter unique Description
Select “1” from the Type dropdown
Select Current Assets from the SubType dropdown
Select “0” from the Profit Group dropdown
Select “C” from the Category dropdown
Navigate to System>>Maintenance>>System G/L Posting Accounts, choose the new account from the GL code dropdown list for SetCode CASHDFLT.
In System>>Maintenance>>Last Used Transaction Numbers, edit the GL Code in Field Name column for xxxxx_ACH and xxxxx_Check with the new five digit GL code account number.
Enter the Last Number Used for ACH advice and check number. In the example below, entering zero in the Last Number Used column will default the first ACH number to “1” and the first check number to “1000,” with your first check run.
DO NOT ALTER AN EXISTING CLASS for 3 items below.
- Sales>>Maintenance>>Sale Class, add a new class that points to the new cash account.
- AP>>Maintenance>>Vendor Class, add a new class that points to the new cash account.
- Payroll>>Maintenance>>Payroll Class, add a new class that points to the new cash account.
If the new classes above will be the defaults for new transactions, go to System>>Maintenance>>Offices. Select the new classes on the Class Defaults tab.
Edit all pending sales, unpaid A/P and unpaid payroll transactions to use the new classes, if you do not want to pay them from the old cash account.
In Payroll>>Maintenance>>Employee Master File, edit the Default Payroll Class in each employee’s master file.
In AP>>Maintenance>>Vendor Master File, edit the vendor records to use the new class.
In GL>>Processing>>General Journal Entries, enter a journal entry to recognize the opening deposit to the new account.
In Bank>>Maintenance>>Edit Monthly Bank Balances, select the new Cash Acct from the dropdown. Enter a Reconciliation Date of the last day of the month, prior to opening the account.
Leave Reconciled Balance as zero and Save. If you opened the account on 03/15/21, then you’ll enter 02/28/21 as the Reconciliation Date. Repeat the above for each of the new accounts that you open.