GL Accounts

ASC 842 is a federal accounting mandate issued by the Financial Accounting Standards Board (FASB) that changes how companies account for leases. This standard, which became effective for public companies in 2019 and for private companies in 2021, ai...

Adding a new General Ledger (GL) account involves a few steps to ensure it is correctly configured and integrated into your accounting system. A new GL account can be added one of three ways in R365:  Account Menu  Setup Assistant ...

The GL Account Record is where account-specific information for each GL Account resides in the system. This article reviews the fields listed on each tab of this record. To create a new GL Account, please see the Add a New GL Account training. ...

GL Accounts can have a specified Parent Account, which would effectively make them a Child Account. Parent Accounts allow Users to group accounts under one main summary account for subtotal and visual grouping on Financial Reports. To assign a Pa...

This article reviews the 'Restricted Access - Usage' and 'Restricted Access - Hide Transactions' settings for GL Account Records . Overview The 'Restricted Access' settings for GL Accounts are used to restrict a User's access to specific G...

This article is part of the documentation on the GL Account record. Click here for more information on  GL Accounts . If a GL Account is going to be a true Summary Account, we can Disable Entry for the account. The values in the account goin...

This article is part of the documentation on the GL Account record. Click here for more information on GL Accounts . Operational Reports Category is a setting on the GL Account record for GL Accounts that have a GL Type that appears on the ...

GL accounts can have additional, location-based, security set on the GL Account Record . Similar to how the Available to Managers feature limits accounts from being seen and selected, location security can be set to limit accounts for use on only...

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. Percent Of None - Th...

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' field on the Account Detail screen when the Budget is created. By default, 'Budget As' is s...

Statistical accounts are non-financial accounts that can be used to track operational information, such as the number of employees, number of tables/seats, and guest count. Once created, statistical accounts can be posted to through the normal jo...

GL Types, or rather General Ledger Types, are predefined groups for GL Account Records . GL Types are used for the sorting, grouping, and subtotaling GL Accounts on Financial Reports (Balance Sheet and P&L). Because of this, the GL Type is a re...

Statistical Accounts are non-financial accounts that can be created and maintained in R365 to track Operational data. Since Stat Accounts do not post to the General Ledger, entries can be made to them in both open and closed periods .  Fu...

While purely non-financial, two default Statistical Accounts are created daily in R365 to track Guest Count and Transaction Count through DSS Journal Entries.  These accounts provide additional Operations-based data that can be budgeted and ...

GL Allocation Templates are custom-made Journal Entry templates that allow one Source GL Account to have its account balance allocated to one or more Destination Accounts. This distribution is defined by the percentage entered for each acc...

This article is a part of the GL Allocation Templates feature. Click here to learn more about GL Allocation Templates . GL Allocation Templates can be created and managed from the GL Allocation Templates page . After a template is built out, it...

This is a part of the GL Allocation Templates feature. Click here to learn more about GL Allocation Templates . GL Allocation Templates can be put in use directly from the Journal Entry window or within the GL Allocation Template form . When pu...

This is a part of the GL Allocation Template feature. Click here to learn more about the GL Allocation Templates . The Allocation Calculator enables Users to see a preview of the Journal Entry created from the corresponding Allocation Templ...

This is a part of the GL Allocation Templates feature. Click here to learn more about GL Allocation Templates . GL Allocation Templates will have a status of either 'Active' or 'Inactive', which will enable them to be available or unavailable, r...

A Preset Allocation is a list of GL Accounts and their Locations that a transaction amount can be spread to when it is applied to an AP Invoice or Standard Journal Entry. The amount spread is based on the allocation percentage noted for each GL...

This is a part of the Preset Allocation feature. Click here to learn more about Preset Allocations . A Preset Allocation is a template that defines the GL Accounts and their assigned Locations as well as the percentage of the transaction amount ...

This is a part of the Preset Allocations feature. Once Preset Allocations are created and marked as Active, they can be used on AP invoices and journal entries to assist in distributing transaction amounts to their proper GL accounts. Preset al...

This is a part of the Preset Allocations feature. Click here to learn more about Preset Allocations . Preset Allocations will have a status of either 'Active' or 'Inactive', which will enable them to be available or unavailable, respectively, fo...

Delete the GL Account  The GL Account can be easily deleted by hovering over the 'Save' menu and clicking 'Delete'. This will remove the GL Account from your instance. Mark the Account as Inactive There is not a designated 'Inactive'...