Account Codes
Written by Brandy Burch
Updated at March 19th, 2025
Account codes are used to determine which General Ledger accounts the information pulls from and which General Ledger accounts the information will post to when using the Create G/L Entries. This is also where the Default Class when importing G/L Entries is defined. The default class may be overridden, but the asset account, Accumulated Depreciation, and Depreciation Expense accounts always apply to assets that are given this particular Account Code.
| Code | Can be up to 4 characters long, either alpha or numeric. |
|---|---|
| Description | Short description for account code. |
| Asset Account | G/L (General Ledger) Asset Account number, used when creating G/L entries, when running the G/L Verification Report, and when Importing from G/L. Only asset accounts defined in Account Codes will be looked at when importing assets. |
| Accumulated Depreciation | G/L (General Ledger) Accumulated Depreciation account number, used when creating G/L (General Ledger) entries and running the G/L (General Ledger) verification report. |
| Depreciation Expense | G/L (General Ledger) Depreciation Expense account number, used when creating G/L (General Ledger) Entries. |
| Impairment Expense | Gives the ability to impair the value of an asset. |
| Default Class when importing G/L (General Ledger) entries | Used when Importing from G/L. The class will be automatically assigned if this is filled in, or it can be left blank. |
| Monthly Entry Description | Specify the description on the GL Entries. |