GCS Software LLC

G/L Group Codes

G/L→Setup→G/L Group Codes

The Group Code Master sets the categorization and layout specifications used for financial reporting. Group Codes are typically established for each classification of account numbers assigned within the General Ledger Account structure. The initial set-up is based on the five primary account groupings (Assets, Liabilities, Equity, Income, and Expense) with a basis grouping for % of Sales reporting. Note: Unless designated otherwise, Group codes directly correspond to the first (4-digit) segment of the General Ledger account number.

PRIMARY GROUP CLASSIFICATIONS: A four-digit entry number field representing the starting sequence number for account numbers by category is provided for four of the five primary group classifications. The ASSET classification is assumed as the starting group whereby no starting classification is required. As a rule, each four digit group code (both primary and secondary) generally represents the same numbering sequence used in the chart of accounts numbering scheme (i.e., [Group: 6000=Expense] - 6000 1000 0000=Advertising Expense). Although advisable, the flexibility of the group

1 | P a g e GL Group Codes

GCS Software LLC structure’s connectivity to the Chart of Accounts allows for non-sequential groupings where necessary.

Note

: The group designation is used as a reference point in the account number structure and layout for

financial reporting. The user should ensure the coding is consistent with the desired report formats.

There is a Group Header field for designating a default position for the Current Period Income / Loss

entry. The Current Period Group field allows the user to control the placement of the entry on

associated reports by designating an earlier income starting number to direct the placement.

CORP CODE: A unique user defined alphanumeric code identifying the specific Corporation for which the

Group Master is to be created. Enter CORPORATECODE. Press TAB

Note: A valid Corporation Code (relevant to the Chart of Accounts) must have been previously set

up in the Corporation Master file prior to entry.