NOTE: The information in this article applies to users using Actionstep Practice Pro + Accounting.
The accounts list (which is also known as the General Ledger, GL, and Chart of Accounts) is a detailed list of all your accounts or ledgers. It provides a framework for recording and categorizing all financial transactions, helping you ensure that the financial statements are accurate and comprehensive.
To access your accounts list:
- In Actionstep Practice Management, go to Accounting > Accounts > Accounts List.
On this page, you will see a detailed list of your accounts. The following is a breakdown of the account details listed on this page.
A. Columns: Each of the columns on this table shows information about the specific account:
- ID: This is a system ID used to reference your accounts. This is not the account number that users will use to code transactions to accounts.
- Account Name: This is the name of the account. This name appears in drop-down lists (along with the account number) in many different accounting and billing areas of Actionstep. These account names will vary depending on your system.
- Account No: This is the ID number used for ordering and classifying the account.
- Account Type: The account type categorizes what sort of transactions are processed using this account. The five main categories are Assets, Expenses, Liability, Equity, and Revenue—with a number of subtypes also included.
- Restrictions: This column indicates whether there are any restrictions on this account. Types of restrictions are explained in section C, below.
- Tax: This column indicates the tax rate applied to this account. When no tax rate is applied, this column displays N-T.
- Currency: Shows the account currency.
- Additional Info: This column includes options to link bank accounts. (If an account has not been linked, it may appear like --Link Credit Card Account--.)
B. Filters: These filters allow you to filter your accounts list to show specific data:
- Account Section: Use this drop-down list to filter by Assets, Liabilities, Equity, Income, Cost of Sales, Expenses, or Sale & Purchase Rounding Errors. You can also select Show All to view all of these options.
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Display: This drop-down list shows the accounts list you are currently viewing. Using this list, you can view installed accounts, link accounts to a bank, and enter opening balances. If you're viewing Master Accounts, you can add, edit, delete and install accounts for your firm.
NOTES:
• If your system is configured to use multiple divisions, the accounts list will show your current division.
• If the Display drop-down list isn't visible, make sure you aren't viewing the account list for a division. Master Accounts are not available for divisions. You can switch divisions by clicking the Organization menu and choosing Switch Division.
C. Restrictions: In the Restrictions column, you might see any of the following designations:
- System: System accounts are used for the background calculations that happen in your accounting system automatically. For more information on system accounts, see Viewing System Accounts.
- Matter: This restriction indicates that transactions linked to this account must be associated with a matter.
- New Matter: This restriction indicates that transactions linked to this account must not be associated with a matter.
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