The GL Account record stores details for each general ledger (GL) account used in financial and transactions and reporting. Each account is categorized based on its GL type and can be configured for specific functionalities such as bank accounts, statistical accounts, budgets, etc.
GL accounts are managed in the General Ledger section of the accounting application. Accounts identified as bank accounts will also appear in the banking section.
R365 Best Practice
To download an example General Ledger populated with recommended Account Names, Account Numbers, Cash Flow Categories, Operational Reports Categories, and Parent Account from the National Restaurant Association (NRA), follow the link below:
From this page, users can perform the following actions:
Mark Accounts as Statistical Accounts
General
The General tab is where the account name and number are entered, and where other GL account settings can be managed.
Button/Field | Description | |
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1 | Account Name | The unique account name assigned to a general ledger (GL) account in R365. This name is used to identify the account throughout the system and must be distinct from all other GL accounts.
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| The unique numerical identifier for a general ledger (GL) account in R365. This number is used to organize and reference accounts and must not duplicate any other GL account number in the system. |
3 | Parent Account | A GL account used to group related child accounts for reporting and organizational purposes. Assigning a parent account creates a hierarchical structure, enabling summary reporting and subtotaling of financial data across associated accounts.
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4 | GL Type | A classification that the defines the financial category of a general ledger (GL) account, such as asset, liability, equity, income, or expense. GL Types determine how accounts are grouped and displayed on financial reports like the Balance Sheet and Profit and Loss statement. Each GL account must be assigned a GL Type, and the selected type influences other available settings and reporting behavior. |
5 | Operational Reports Category | Predefined classification used to group GL accounts for operational reporting.
The dropdown menu includes the following options:
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6 | Description | Open text field used to provide additional information or for sorting purposes. |
7 | Is Stat Account | Marks the account as non-financial. Replaces the 'Parent Account' and 'GL Type' fields with 'Stat Account Type' and 'Better/Worse Direction.' Marks the account as a non-financial account— the account details will not post to the General Ledger. When checked, the 'Parent Account' and 'GL Type' fields will be replaced with the 'Stat Account Type' and 'Better/Worse Direction' fields. Learn more about Stat Accounts. |
8 | Is Bank Account | Sets the account as a bank account and enables bank account fields.
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9 | Disable Entry (Subtotal Only) | Prevents the account from appearing in AP Invoice account selectors. Learn more about disable entry. |
10 | Restricted Access - usage | When selected, only Users with the following permission will be able to select this GL Account, including when entering Invoices or recording paid outs on the Daily Sales Summary (DSS):
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11 | Control Account - Prevent Manual Journal Entries | Hides the account from manual Journal Entry selectors. System-generated entries can still use this account.
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Transactions
The Transactions tab will display all of the Transactions that have posted to this GL Account.
Report Settings
On the Report Settings tab, Users can specify additional report settings for the GL Account, including the option to Show Running Total, and assign the Cash Flow Category to Balance Sheet Accounts. Learn more about GL Accounts: Report Settings.
Budget Defaults
The GL Account can have a default budgeted dollar Amount set on the GL Account record. This value would then be pre-populated in the 'Set All to Same Amount' field on the Account Detail screen when the Budget is created. By default, 'Budget As' is set to 'Amount', signifying that the selected Account will be budgeted as a Dollar Amount. In addition to Amount, Accounts can be Budgeted As:
Percent of GL Account
Percent of GL Type
Percent of Operational Report Category
Learn more about GL Accounts: Budget Defaults.
Location
GL Accounts can have additional, Location-based security set on the GL Account record. This feature limits accounts from being seen and selected, GL Account Location Security can be set to limit accounts for use on only select Locations or Location Reporting Categories (groups of Locations).
GL Account Location Security can also be considered a form of 'white-listing' Locations for use on a specific GL Account. Click here for more information on GL Account: Location Security.