General Ledger - Chart Of Sub Accounts

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Purpose

This document allows the user to establish a custom chart of sub accounts.

Prerequisites

The Chart of Accounts must have already been created via the General Ledger - Chart of Accounts document.

Context

LILAC has a very dynamic approach to "General Ledger Accounts". They are not something separate and distinct from the trading database. LILAC lets every account stand for itself in the overall double entry balance. The Chart of Sub Accounts document lets you manipulate the names of sub accounts which may already exist in the LILAC database or to add new ones for your own purposes.

The following sub accounts are created automatically by LILAC whenever action is restarted.

Ledger Account Sub Account Name
BALANCE GST SALES GST Charged on Sales
BALANCE GST PURCHASE GST on Purchases
BALANCE GST ADJUST GST on Settlement Discount
BALANCE GST TAX PAID GST Remitted to ATO
TRADING VARIATIONS PURCHASE Variations on Purchase Orders
TRADING VARIATIONS FROM WIP Variations in Manufacture


About This Screen

Head of the Document
Field Enterable? Instructions
From Ledger Yes Type in, or search for (using the F12 button), a main ledger key from the set BALANCE, DEBTORS, INVENTORY, PAYROLL, TRADING, WIP.

Lines of the Document
Ledger No Displays the ledger as selected in the From Ledger field.
Main Yes Type in, or search for (using the F12 button), for a General Ledger Account.
Sub Yes Type in the key for a sub account.
Name Yes Type in the long name for the account. This is used for presentation in reports.

From Here

Transactions can now be processed against these sub accounts.