Page tree
Skip to end of metadata
Go to start of metadata
This article is for Drake Accounting 2019. To view this article for Drake Accounting 2018, click here

The client's Chart of Accounts is required before associating receivables transaction types with debit and credit accounts.

Once Generate Accounting Transactions has been checked, and a journal type has been chosen under Receivables > Options > General Options tab, the General Ledger Account Setup (Receivables > GL Account Setup) can be completed. Each transaction type must be assigned a debit and a credit account to keep the Chart of Accounts in balance.

To assign debit and credit accounts to transaction types, complete the following:

  1. Go to Receivables> GL Account Setup and click the New icon.
  2. Select a Transaction Type from the drop list which displays Transaction Type codes and Descriptions.
  3. Enter a GL Account Description for the General Ledger Account you are creating.
  4. Select the desired account from the drop list for the Debit Account field. 
    • A list of postable accounts from the Chart of Accounts displays. 
    • If the account you are looking for is not listed, click New Account in the drop list.
  5. Select the desired account from the drop list for the Credit Account field. 
    • A list of postable accounts from the Chart of Accounts displays. 
    • If the account you are looking for is not listed, click New Account in the drop list.
  6. Once the accounts have been set up, click Save when finished with the screen.

Click Reset to revert to the last saved transaction type and debit/credit account combination. To delete a previously saved transaction type and debit/credit account combination, select the line in the grid and click the Delete  icon. Then click Save when finished with the screen.

See "Transaction Types" for more information. 

  


Connect With Us!

  Visit our Drake Accounting website

  Visit the Drake Software website


  • No labels