General Ledger Accounts

 

Managing General Ledger (GL) Account Codes

General Ledger Account codes are created and managed in Accounts > Invoice Admin > Account Codes.

Filters for GL Account Codes

By selecting "Show Filters," you can view GL account codes based on specific categories:

1. Revenue
2. Expense
3. Asset
4. Liability
   

 

And you can filter codes by their status: ‘Active' and 'Not Active’

 

Adding Account Codes

To create a new Account/GL code, navigate to Accounts > Invoice Admin > Account Codes.

 

 

 

Edit and Account Code

To modify an existing GL code, simply open it for editing:

Deactivate a code

You have the option to deactivate any GL code as needed.

 

Bulk Update

To update multiple GL codes simultaneously, go to Accounts > Invoice Admin > Upload Account Codes.

 

GL Codes on Inventory Items

IQ allows you to assign Expense General Ledger accounts to inventory items. When an item is added to a Purchase Order, the corresponding GL code is automatically populated from the inventory record.

How to Add a GL Code to an Inventory Item:

1. Locate the item within Inventory and open its details.
2. Select the correct GL Account from the drop-down menu.
3. Save your changes.

When this item is added to a Purchase Order, the associated GL code is carried over to the order.

 

The GL is transferred to the accounting software when the Supplier Invoice is entered and exported.

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