In our last entry, we were discussing the flexibility that is delivered with the way the financial management tools are initially set up in Microsoft Dynamics SL, focusing on the basics of setting up the General Ledger. Today we’ll look at the setup of the Maintenance screens for the General Ledger.
The Chart of Accounts Maintenance screen is where you enter an account. An account number can be up to 10 characters long. You can also define the type of account it is, the Class ID that is associated to it, the account status, and the posting options. The information defined here will be used throughout all of the modules of Microsoft Dynamics SL.
The Subaccount Maintenance screen enables you to break an account down into more detailed information as you require. This could be subaccounts for administration, sales, engineering, by location, etc. You can use the Flexkey functionality to easily create a new subaccount. A subaccount number can be up to 24 characters. The Account/Subaccount Maintenance screen is optional, and can enable you to set up the system so that only certain account/subaccount combinations are valid.
The Ledger Maintenance screen is where you set up ledgers such as your Actual Ledger and your various Budget Ledgers. You define the Ledger ID for each one, as well as balance type (Actual, Budget, Statistical), and the base currency. The Budget Maintenance screen is where you set up your budget information. You choose an account, subaccount, and Ledger ID.