Difference between revisions of "General Ledger Profile"

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[[Category: Profiles]]
 
[[Category: Profiles]]
 
<table class="infobox" cellspacing="5" style="background-color: #FFFFFF; width:27em; text-align:left; border-spacing: 2px; line-height:1.5em;">
 
<table class="infobox" cellspacing="5" style="background-color: #FFFFFF; width:27em; text-align:left; border-spacing: 2px; line-height:1.5em;">
 +
<tr>
 +
    <td>[[File:Ic_description_black_24dp.png|link=Newton User Guide#Setup Profiles]] Newton User Guide: [[Newton User Guide#Setup Profiles|Setup Profiles]]</td>
 +
</tr>
 +
<tr>
 +
    <td>[[File:Ic_info_black_24dp.png]] Required Software Version: [[:Category:Release Notes|March 2017]]</td>
 +
</tr>
 +
<tr>
 +
    <td>[[File: Ic_settings_backup_restore_black_24dp.png]]  Legacy Instructions Available: [http://wiki.agencysystems.com/mediawiki/index.php?title=General_Ledger_Profile&oldid=3882 Click Here]</td>
 +
</tr>
 
<tr style="background-color: #bdbdbd; text-align: center; font-weight:bold;">
 
<tr style="background-color: #bdbdbd; text-align: center; font-weight:bold;">
 
     <td>Related Pages</td>
 
     <td>Related Pages</td>
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<td>
 
<td>
 
<ul>
 
<ul>
<li>[[Training 2: Setting Up Your Agency]]</li>
+
<li>[[Beginning Balances]]</li>
<li>[[Training 6: Accounting]]
+
<li>[[Department Profile]]</li>
 +
<li>[[Report: Balance Sheet]]</li>
 +
<li>[[Report: GL Inquiry]]</li>
 +
<li>[[Report: Income and Expense]]</li>
 
</ul>
 
</ul>
 
</td>
 
</td>
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<ul>
 
<ul>
 
<li>[[:Category:Profiles|Profiles]]</li>
 
<li>[[:Category:Profiles|Profiles]]</li>
<li>[[:Category:Cash|Cash]]</li>
 
<li>[[:Category:Checks|Checks]]</li>
 
 
</ul>
 
</ul>
 
</td>
 
</td>
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</table>
 
</table>
 
The General Ledger Profile screen is a list of General Ledger codes available when entering accounting transactions including:   
 
The General Ledger Profile screen is a list of General Ledger codes available when entering accounting transactions including:   
<ul>
+
*[[Beginning Balances]]
<li>[[:Category:Cash|Cash]], [[:Category:Checks|Check]], and [[:Category:Journal Transaction|Journal Transactions]]
+
*[[:Category:Cash|Cash]], [[:Category:Checks|Check]], and [[:Category:Journal Transaction|Journal Transactions]]
<li>[[Non-Policy Related Checks|Non-Policy Related Multi-GL Checks]]
+
*[[Voucher Transaction|Vouchers]] and [[Non-Policy Related Checks|Non-Policy Related Multi-GL Checks (legacy)]]
<li>Invoice Transactions
+
*[[:Category:Invoice|Invoice Transactions]]
<li>Balance Sheet and Income & Expense reporting
+
*[[Report: Balance Sheet|Balance Sheet]], [[Report: GL Inquiry|GL Inquiry]], and [[Report: Income and Expense|Income & Expense]] reporting.
</ul>
+
 
 +
== Before You Begin ==
 +
Access to view the General Ledger Profile requires the current operator to have [[Security System|Security System: Profiles -> General Ledger -> View]] access.
 +
 
 +
[[File:Ic_info_black_24dp.png]]  See: [[Security System]] for more information.
 +
 
 +
== Create a General Ledger Account ==
 +
<table class="infobox" cellspacing="5" style="background-color: #FFFFFF; width:25em; text-align:left; border-spacing: 2px; line-height:1.5em;">
 +
<tr>
 +
    <td>'''G/L Type'''</td>
 +
    <td>'''G/L Code'''</td>
 +
    <td>'''G/L Settings'''</td>
 +
</tr>
 +
<tr>
 +
    <td>Asset</td>
 +
    <td>1100 - 1999</td>
 +
    <td>Current, Fixed, Other</td>
 +
</tr>
 +
<tr>
 +
    <td>Liability</td>
 +
    <td>2000 - 2299</td>
 +
    <td>Current, Long-Term, Other</td>
 +
</tr>
 +
<tr>
 +
    <td>Capital</td>
 +
    <td>2300 - 2999</td>
 +
    <td>No Sub-Types</td>
 +
</tr>
 +
<tr>
 +
    <td>Income</td>
 +
    <td>4100 - 4999</td>
 +
    <td>Operating, Miscellaneous</td>
 +
</tr>
 +
<tr>
 +
    <td>Expense</td>
 +
    <td>5000 - 6999</td>
 +
    <td>Administrative, Sales, Other</td>
 +
</tr>
 +
</table>
 +
Before creating a new general ledger account, first verify a similar account does not already exist.  Select '''Print List''' to preview a report of all existing general ledger accounts.  The [[#Edit a General Ledger Account|name assigned to an account code can be modified]], without creating a new general ledger account.
 +
 
 +
#From the '''[[Main Menu and Tab Navigation|Main Menu]]''', select '''Setup''' -> '''General Ledger'''.
 +
#Select '''Create New'''.
 +
#Enter the desired four digit number.  (See table for guidance)
 +
#Enter the '''name''' for the account.  This name will appear in drop-down selection lists when entering data, or running reports.
 +
#Select the '''G/L Type''' and '''G/L Sub-Type'''.  (See table for guidance)
 +
#Select the '''Sub-Account Type'''.  (Most GL accounts '''do not''' have a sub-account.)
 +
#:When a sub-account type is set, any accounting entry requires both the primary GL number, and a sub-account. (Client, Producer, Company etc)
 +
#:[[File:Ic_info_black_24dp.png]] A GL account [[#Step A: Verify any Previous Accounting Transactions|that has been used for accounting entries]] cannot be changed to no sub accounts.
 +
#Select the desired '''G/L Inquiry Report Options''' setting. (See [[#G/L Inquiry Report Options|the section below for additional information]])
 +
#Select the desired '''Report Subtotals Selection''' setting. (Subtotals by [[Department Profile|department]])
 +
#Select '''Save'''. (Requires  [[Security System|Security System: Profiles -> General Ledger -> Entry]] access.)
 +
#Select '''Exit'''.
 +
 
 +
== Edit a General Ledger Account ==
 +
[[#Required General Ledger Accounts|Required general ledger accounts]] cannot be deleted or edited.
 +
 
 +
#From the '''[[Main Menu and Tab Navigation|Main Menu]]''', select '''Setup''' -> '''General Ledger'''.
 +
#Select '''Find'''.
 +
#Select the desired general ledger number and select '''OK'''.
 +
#Enter or modify any desired values.  (Examples: Name, GL Inquiry Report Options, Report Subtotals).
 +
#Select '''Save'''. (Requires  [[Security System|Security System: Profiles -> General Ledger -> Edit]] access.)
 +
#Select '''Exit'''.
 +
 
 +
==== Edit the G/L Type or G/L Sub-Type ====
 +
----
 +
;Question
 +
:Is there a way to change the G/L Sub-Type for an existing expense account?
 +
 
 +
----
 +
;Answer
 +
Yes. To change the '''G/L Sub Type''' for an account (Expense or otherwise) requires running a utility to update the data used by the  [[Report: Income and Expense|Income and Expense Report]]. 
 +
 
 +
Please call [[Help:Contents|contact Agency Systems support]] for assistance deleting and re-entering the account.
 +
 
 +
== Delete a General Ledger Account ==
 +
Deleting a General Ledger Account should not be done if the account has ever been used for any accounting transactions.
 +
 
 +
A daily password is required to delete a general ledger account.  The daily password is available by [[Help:Contents|contacting Agency Systems support]].
 +
 
 +
[[#Required General Ledger Accounts|Required general ledger accounts]] cannot be deleted or edited.
 +
 
 +
===== Step A: Verify any Previous Accounting Transactions =====
 +
#Select '''Reports''' -> '''General Ledger Detail'''.  (Requires  [[Security System|Security System: GL -> General Ledger Inquiry -> View]] access.)
 +
#Enter '''G/L''' -> '''XXXX: GL Account Number'''.
 +
#Enter '''Start Date''' -> '''Start of Time.''' (Right-Click)
 +
#Enter '''End Date''' -> '''End of Time.''' (Right-Click)
 +
#Select '''Preview'''.
  
== General Ledger Profile Screen ==
+
===== Step B: Delete the Unused General Ledger Account  =====
Select '''Profiles -> General Ledger'''. ''(Requires [[Security System]]: Profiles -> General Ledger -> View)''
+
First, [[#Step A: Verify any Previous Accounting Transactions |verify the general ledger account has never been used]].
 +
#From the '''[[Main Menu and Tab Navigation|Main Menu]]''', select '''Setup''' -> '''General Ledger'''.
 +
#Select '''Find'''.
 +
#Select the desired general ledger account and select '''OK'''.
 +
#Select '''Delete'''(Requires [[Security System|Security System: Profiles -> General Ledger -> Global]] access.)
 +
#Confirm '''Yes'''.
 +
#Enter the password provided by [[Help:Contents|Agency Systems support]].
 +
#Select '''Exit'''.
  
[[File:Menu-profiles-gl.png]]
+
== General Ledger Profile Interface ==
 +
From the '''[[Main Menu and Tab Navigation|Main Menu]]''', select '''Setup''' -> '''General Ledger'''.
  
=== General Ledger Profile Menu Options ===
+
[[File:setup-gl.png]]
*Add - Create a new General Ledger Profile
+
;General Ledger Profile Toolbar
*Search - Load an existing General Ledger Profile
+
*'''Find:''' - Find a general ledger profile.
*Print - Print a short summary of all General Ledger Profiles (Chart of Accounts)
+
*'''First:''' - Skip to the first general ledger profile.
*Exit - Close the window. You will be prompted to save if you have changed the General Ledger Profile.
+
*'''Previous:''' - Skip to the previous general ledger profile.
 +
*'''Next:''' - Skip to the next general ledger profile.
 +
*'''Last:''' - Skip to the last general ledger profile.
 +
*'''Create New:''' - [[#Create a General Ledger Account|Create a new general ledger profile]].
 +
*'''Print List:''' - Print a list of general ledger profiles.  (A [[Mynewtoncampus#Profile_Reports:_Chart_of_Accounts|spreadsheet for the full chart of accounts]] can also be exported.)
 +
*'''History:''' - View general ledger profile history.
 +
*'''Delete:''' - [[#Delete a General Ledger Account|Delete general ledger profile]].
 +
*'''Wiki:''' - Wiki Help Documentation.
 +
*'''Save:''' - Save the current profile item. (ALT + S)
 +
*'''Exit:''' - Exit the profile windows. (ALT + X)
  
== General Ledger Profile Fields ==
+
=== G/L Inquiry Report Options ===
'''G/L Inquiry Report Options:'''
+
Each GL account has default [[Report: GL Inquiry|GL Inquiry]] report options for the amount of detail provided per account.
 
*Totals Only - Total for all type of transactions
 
*Totals Only - Total for all type of transactions
 
*Monthly Totals - Breaks down totals by month
 
*Monthly Totals - Breaks down totals by month
*All Details - Breaks down detail for all transactions
+
*All Details - Breaks down detail for all transactions (Invoice GLs (1120, 1130 ,2110 ,2120 etc.) do not provide full details unless [[Help:Contents|enabled by Agency Systems Customer Support]].)
  
'''Report Subtotals Selection:'''
+
The detail level can be changed on an existing account by [[#Edit a General Ledger Account|editing the GL account]].
*Department Subtotals - Breaks down the detail by department
 
*No Subtotals - Does not break down the detail by department
 
  
{| class="wikitable"
 
|+Guide for General Ledger Account Types
 
!G/L Type
 
!G/L Code
 
!G/L Settings
 
|-
 
|Asset
 
|1100 - 1999
 
|Current, Fixed, Other
 
|-
 
|Liability
 
|2000 - 2299
 
|Current, Long-Term, Other
 
|-
 
|Capital
 
|2300 - 2999
 
|No Sub-Types
 
|-
 
|Income
 
|4100 - 4999
 
|Operating, Miscellaneous
 
|-
 
|Expense
 
|5000 - 6999
 
|Administrative, Sales, Other
 
|}
 
 
== Required General Ledger Accounts ==
 
== Required General Ledger Accounts ==
Agency Systems requires certain General Ledger accounts to be setup in order for the accounting transactions to post properly.  The accounts are pre-configured, and should not be edited.  
+
Newton requires certain General Ledger accounts to be setup in order for the accounting transactions to post properly.  The accounts are pre-configured, and should not be edited.  
  
 
=== Asset Accounts ===
 
=== Asset Accounts ===
'''1100 - Cash in Bank:''' This account is used to post [[:Category:Cash|Cash]] and [[:Category:Checks|Check]] transactions in Agency Systems. General Ledger 1100 is used when a [[Bank Profile|new bank]] is setup in Agency Systems. It is setup as a Current Asset with Bank Sub Accounts defined.  
+
'''1100 - Cash in Bank:''' This account is used to post [[:Category:Cash|Cash]] and [[:Category:Checks|Check]] transactions in Agency Systems. General Ledger 1100 is used when a [[Bank Profile|new bank]] is setup in Agency Systems. It is setup as a Current Asset with [[Bank Profile|Bank]] Sub Accounts defined.  
  
'''1120 - Client Accounts Receivable:''' Each client/agent setup in Agency Systems is assigned a client number under 1120. This account is reflected when a client makes a payment, a check for returned premium, and all types of invoices created in Agency Systems. This account is setup as a Current Asset with Client Sub Accounts defined.  
+
'''1120 - Client Accounts Receivable:''' Each client/agent setup in Agency Systems is assigned a client number under 1120. This account is reflected when a client makes a payment, a check for returned premium, and all types of invoices created in Agency Systems. This account is setup as a Current Asset with [[Client Profile|Client Sub Accounts]] defined.  
  
'''1130 - Company Accounts Receivables:''' This account is normally used when Direct Billed invoices are created. When posting the check received from the Insurance Carrier, the cash receipt is posted to the 1130 account. This account is setup as a Current Asset with Company Sub Accounts defined.  
+
'''1130 - Company Accounts Receivables:''' This account is normally used when Direct Billed invoices are created. When posting the check received from the Insurance Carrier, the cash receipt is posted to the 1130 account. This account is setup as a Current Asset with [[Company Profile|Company Sub Accounts]] defined.  
  
 
=== Liability Accounts ===
 
=== Liability Accounts ===
'''2110 - Company Accounts Current Payable:''' Agency Billed invoices are posted to this account. The check to the Insurance Company is cut to this account when you post the check less your Agency Commission. This account is setup as a Current Liability with Company Sub Accounts defined.  
+
'''2110 - Company Accounts Current Payable:''' Agency Billed invoices are posted to this account. The check to the Insurance Company is cut to this account when you post the check less your Agency Commission. This account is setup as a Current Liability with [[Company Profile|Company Sub Accounts]] defined.  
  
'''2120 - Producer Commission Payable:''' On all invoice transactions, the 2120 account is reflected by the Producer Commission amount on an invoice. Producer Statements can be produced for all commission based producers in your agency. This account is setup as a Current Liability with Producer Sub Accounts defined.  
+
'''2120 - Producer Commission Payable:''' On all invoice transactions, the 2120 account is reflected by the Producer Commission amount on an invoice. Producer Statements can be produced for all commission based producers in your agency. This account is setup as a Current Liability with [[Producer Profile|Producer Sub Accounts]] defined.  
  
'''2130 - Vendor Payable:''' Vendors setup under the Profiles menu can have non policy related checks created in the system. A Check Register can be run for a particular vendor code based off this account. This account is setup as a Current Liability account with Company Sub Accounts defined.  
+
'''2130 - Vendor Payable:''' [[Vendor Profile|Vendors setup under the Profiles menu]] can have non policy related checks created in the system. A Check Register can be run for a particular vendor code based off this account. This account is setup as a Current Liability account with Company Sub Accounts defined and '''Use as Vendor''' selected.
 +
 
 +
The Vendor Payable GL can be reassigned to a different account number in the [[Agency Profile]].  The alternate GL account must have the same sub-account settings as 2130.
  
 
=== Capital Accounts ===
 
=== Capital Accounts ===
The assigned General Ledger code for each of the capital accounts can be reconfigured in the [[Agency Profile|Agency Profile -> Accounting Setups tab]].
+
'''2303 - Bank Transfer:''' See [[Bank Transfer]] for details and setup instructions.  ''(The GL number can be changed as desired.)''
 +
 
 +
'''2318 - Retained Earnings:''' Automatically calculated and displayed on the [[Report: Balance Sheet|Balance Sheet]] based off the the previous fiscal year's ending Profit or Loss amount.
 +
 
 +
'''2319 - Profit or Loss:''' Automatically calculated based off the [[Report: Income and Expense|Income & Expense]] total and displayed on the [[Report: Balance Sheet|Balance Sheet]].
  
'''2318 - Retained Earnings:''' Automatically calculated and displayed on the Balance Sheet based off the the previous fiscal year's ending Profit or Loss amount.
+
:The assigned General Ledger code for the '''Retained Earnings''' and '''Profit or Loss''' capital accounts can be reconfigured in the [[Agency Profile|Agency Profile -> Accounting Setups tab]].
  
'''2319 - Profit or Loss:''' Automatically calculated based off the Income & Expense total and displayed on the Balance Sheet.
 
 
=== Operating Income Accounts ===
 
=== Operating Income Accounts ===
'''4110 - Agency Billed Commission Income:''' All invoices entered into Agency Systems of type Agency Billed will post to this account. The Income and Expense Report will show the amount of Agency Billed income for a specified period of time. This account is setup as an Operating Income account setup with no sub accounts defined.  
+
'''4110 - Agency Billed Commission Income:''' All invoices entered into Agency Systems of type [[:Category:Agency Bill|Agency Billed]] will post to this account. The Income and Expense Report will show the amount of Agency Billed income for a specified period of time. This account is setup as an Operating Income account setup with no sub accounts defined.
 +
 
 +
'''4120 - Direct Billed Agency Commission:''' All invoices entered into Agency Systems of type [[:Category:Direct Bill|Direct Billed]] will post to this account. The Income and Expense Report will show the amount of Direct Billed income for a specified period of time. This account is setup as an Operating Income account with no sub accounts defined.
  
'''4120 - Direct Billed Agency Commission:''' All invoices entered into Agency Systems of type Direct Billed will post to this account. The Income and Expense Report will show the amount of Direct Billed income for a specified period of time. This account is setup as an Operating Income account with no sub accounts defined.  
+
'''4128 - Late Charge Income:''' Money made from [[Late Charges|late charge invoices]]. This code can be altered in automatic late charge setup.
  
 
=== Operating Expense Accounts ===
 
=== Operating Expense Accounts ===
'''5108 - Commission Expense:''' Agency and Direct billed invoices are posted to this account. An Income and Expense report will show this amount for a specified date range. This account is setup as a Sales Expense with no sub Accounts setup.  
+
'''5108 - Commission Expense:''' [[:Category: Invoice|Agency and Direct billed invoices]] are posted to this account. An [[Report: Income and Expense|Income and Expense]] report will show this amount for a specified date range. This account is setup as a Sales Expense with no sub Accounts setup.  
  
'''5109 - Commission Expense:''' Broker billed invoices are posted to this account. An Income and Expense report will show this amount for a specified date range. This account is setup as a Sales Expense with no sub Accounts setup.
+
'''5109 - Commission Expense:''' Broker billed invoices are posted to this account. An [[Report: Income and Expense|Income and Expense]] report will show this amount for a specified date range. This account is setup as a Sales Expense with no sub Accounts setup.

Latest revision as of 21:20, 7 May 2018

Ic description black 24dp.png Newton User Guide: Setup Profiles
Ic info black 24dp.png Required Software Version: March 2017
Ic settings backup restore black 24dp.png Legacy Instructions Available: Click Here
Related Pages
Related Categories

The General Ledger Profile screen is a list of General Ledger codes available when entering accounting transactions including:

Before You Begin

Access to view the General Ledger Profile requires the current operator to have Security System: Profiles -> General Ledger -> View access.

Ic info black 24dp.png See: Security System for more information.

Create a General Ledger Account

G/L Type G/L Code G/L Settings
Asset 1100 - 1999 Current, Fixed, Other
Liability 2000 - 2299 Current, Long-Term, Other
Capital 2300 - 2999 No Sub-Types
Income 4100 - 4999 Operating, Miscellaneous
Expense 5000 - 6999 Administrative, Sales, Other

Before creating a new general ledger account, first verify a similar account does not already exist. Select Print List to preview a report of all existing general ledger accounts. The name assigned to an account code can be modified, without creating a new general ledger account.

  1. From the Main Menu, select Setup -> General Ledger.
  2. Select Create New.
  3. Enter the desired four digit number. (See table for guidance)
  4. Enter the name for the account. This name will appear in drop-down selection lists when entering data, or running reports.
  5. Select the G/L Type and G/L Sub-Type. (See table for guidance)
  6. Select the Sub-Account Type. (Most GL accounts do not have a sub-account.)
    When a sub-account type is set, any accounting entry requires both the primary GL number, and a sub-account. (Client, Producer, Company etc)
    Ic info black 24dp.png A GL account that has been used for accounting entries cannot be changed to no sub accounts.
  7. Select the desired G/L Inquiry Report Options setting. (See the section below for additional information)
  8. Select the desired Report Subtotals Selection setting. (Subtotals by department)
  9. Select Save. (Requires Security System: Profiles -> General Ledger -> Entry access.)
  10. Select Exit.

Edit a General Ledger Account

Required general ledger accounts cannot be deleted or edited.

  1. From the Main Menu, select Setup -> General Ledger.
  2. Select Find.
  3. Select the desired general ledger number and select OK.
  4. Enter or modify any desired values. (Examples: Name, GL Inquiry Report Options, Report Subtotals).
  5. Select Save. (Requires Security System: Profiles -> General Ledger -> Edit access.)
  6. Select Exit.

Edit the G/L Type or G/L Sub-Type


Question
Is there a way to change the G/L Sub-Type for an existing expense account?

Answer

Yes. To change the G/L Sub Type for an account (Expense or otherwise) requires running a utility to update the data used by the Income and Expense Report.

Please call contact Agency Systems support for assistance deleting and re-entering the account.

Delete a General Ledger Account

Deleting a General Ledger Account should not be done if the account has ever been used for any accounting transactions.

A daily password is required to delete a general ledger account. The daily password is available by contacting Agency Systems support.

Required general ledger accounts cannot be deleted or edited.

Step A: Verify any Previous Accounting Transactions
  1. Select Reports -> General Ledger Detail. (Requires Security System: GL -> General Ledger Inquiry -> View access.)
  2. Enter G/L -> XXXX: GL Account Number.
  3. Enter Start Date -> Start of Time. (Right-Click)
  4. Enter End Date -> End of Time. (Right-Click)
  5. Select Preview.
Step B: Delete the Unused General Ledger Account

First, verify the general ledger account has never been used.

  1. From the Main Menu, select Setup -> General Ledger.
  2. Select Find.
  3. Select the desired general ledger account and select OK.
  4. Select Delete. (Requires Security System: Profiles -> General Ledger -> Global access.)
  5. Confirm Yes.
  6. Enter the password provided by Agency Systems support.
  7. Select Exit.

General Ledger Profile Interface

From the Main Menu, select Setup -> General Ledger.

Setup-gl.png

General Ledger Profile Toolbar
  • Find: - Find a general ledger profile.
  • First: - Skip to the first general ledger profile.
  • Previous: - Skip to the previous general ledger profile.
  • Next: - Skip to the next general ledger profile.
  • Last: - Skip to the last general ledger profile.
  • Create New: - Create a new general ledger profile.
  • Print List: - Print a list of general ledger profiles. (A spreadsheet for the full chart of accounts can also be exported.)
  • History: - View general ledger profile history.
  • Delete: - Delete general ledger profile.
  • Wiki: - Wiki Help Documentation.
  • Save: - Save the current profile item. (ALT + S)
  • Exit: - Exit the profile windows. (ALT + X)

G/L Inquiry Report Options

Each GL account has default GL Inquiry report options for the amount of detail provided per account.

  • Totals Only - Total for all type of transactions
  • Monthly Totals - Breaks down totals by month
  • All Details - Breaks down detail for all transactions (Invoice GLs (1120, 1130 ,2110 ,2120 etc.) do not provide full details unless enabled by Agency Systems Customer Support.)

The detail level can be changed on an existing account by editing the GL account.

Required General Ledger Accounts

Newton requires certain General Ledger accounts to be setup in order for the accounting transactions to post properly. The accounts are pre-configured, and should not be edited.

Asset Accounts

1100 - Cash in Bank: This account is used to post Cash and Check transactions in Agency Systems. General Ledger 1100 is used when a new bank is setup in Agency Systems. It is setup as a Current Asset with Bank Sub Accounts defined.

1120 - Client Accounts Receivable: Each client/agent setup in Agency Systems is assigned a client number under 1120. This account is reflected when a client makes a payment, a check for returned premium, and all types of invoices created in Agency Systems. This account is setup as a Current Asset with Client Sub Accounts defined.

1130 - Company Accounts Receivables: This account is normally used when Direct Billed invoices are created. When posting the check received from the Insurance Carrier, the cash receipt is posted to the 1130 account. This account is setup as a Current Asset with Company Sub Accounts defined.

Liability Accounts

2110 - Company Accounts Current Payable: Agency Billed invoices are posted to this account. The check to the Insurance Company is cut to this account when you post the check less your Agency Commission. This account is setup as a Current Liability with Company Sub Accounts defined.

2120 - Producer Commission Payable: On all invoice transactions, the 2120 account is reflected by the Producer Commission amount on an invoice. Producer Statements can be produced for all commission based producers in your agency. This account is setup as a Current Liability with Producer Sub Accounts defined.

2130 - Vendor Payable: Vendors setup under the Profiles menu can have non policy related checks created in the system. A Check Register can be run for a particular vendor code based off this account. This account is setup as a Current Liability account with Company Sub Accounts defined and Use as Vendor selected.

The Vendor Payable GL can be reassigned to a different account number in the Agency Profile. The alternate GL account must have the same sub-account settings as 2130.

Capital Accounts

2303 - Bank Transfer: See Bank Transfer for details and setup instructions. (The GL number can be changed as desired.)

2318 - Retained Earnings: Automatically calculated and displayed on the Balance Sheet based off the the previous fiscal year's ending Profit or Loss amount.

2319 - Profit or Loss: Automatically calculated based off the Income & Expense total and displayed on the Balance Sheet.

The assigned General Ledger code for the Retained Earnings and Profit or Loss capital accounts can be reconfigured in the Agency Profile -> Accounting Setups tab.

Operating Income Accounts

4110 - Agency Billed Commission Income: All invoices entered into Agency Systems of type Agency Billed will post to this account. The Income and Expense Report will show the amount of Agency Billed income for a specified period of time. This account is setup as an Operating Income account setup with no sub accounts defined.

4120 - Direct Billed Agency Commission: All invoices entered into Agency Systems of type Direct Billed will post to this account. The Income and Expense Report will show the amount of Direct Billed income for a specified period of time. This account is setup as an Operating Income account with no sub accounts defined.

4128 - Late Charge Income: Money made from late charge invoices. This code can be altered in automatic late charge setup.

Operating Expense Accounts

5108 - Commission Expense: Agency and Direct billed invoices are posted to this account. An Income and Expense report will show this amount for a specified date range. This account is setup as a Sales Expense with no sub Accounts setup.

5109 - Commission Expense: Broker billed invoices are posted to this account. An Income and Expense report will show this amount for a specified date range. This account is setup as a Sales Expense with no sub Accounts setup.