Assign General Ledger Account to an Accounting Code (Desktop)
General Ledger Accounts (GLs) are account numbers used to categorize types of financial transactions. Most commonly used GLs are revenues, expenses and transfers. A “chart of accounts” is a complete listing of every account in an accounting system.
Path: Management > Setup > Accounting > Accounting Codes
1. From the Accounting codes list, click on the code you wish to modify.
2. Visual Matrix can assign 2 GL accounts for each accounting code:
- G/L Account 1: the first general ledger account will be posted in the inverse sign of the posting code.
- G/L Account 2: the second General Ledger account number will be shown as the inverse sign of G/L Account 1.
Let's use the Payment Cash posting code as an example. A cash posting to a guest folio in Visual Matrix is a credit on the folio but would be a debit to your bank account and a credit to the guest ledger. So, G/L Account 1 would have the bank account and, G/L Account 2 would have the guest ledger.
3. Click Save.
You should not set up General Ledger accounts for balance forward or control account numbers. These codes would include GB, 71, 72, D1, and D2.
To assign any accounting codes that start with 7 or 8, please contact our Client Experience team. These are restricted codes and are advance deposit payments and refunds.