File GL Accounts T Accounts

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File - GL Accounts - T Accounts

T accounts are an alternative method of reporting departments, divisions or cost centres. They allow you to categorise transactions and produce a Profit & Loss report based on a secondary coding system of up to five T account categories.

Reference

For more information on T accounts, refer to "T Accounts".

Use this option to setup the T1 and T2 accounts for a GL account and to setup budgets for the T account combination (e.g. a sales territory/warehouse combination or a warehouse/item combination). You can also apply these T account combinations to a range of GL accounts and you can create new T account combinations on the Chart of Accounts for a new financial year (2.8 feature).

Technical Tip

This tab is only enabled if your company is using T accounts (i.e. the Enable T Accounts field on the General Ledger Setup screen must be set to Yes - refer to "Edit - General Ledger Config - General Ledger Setup").

To setup T accounts for a GL account:

Add a new GL account or open an existing one.

Refer to "Adding a New GL Account" or "Updating a GL Account".

Select the T Account tab.

Micronet displays the Account File Update screen – T Accounts tab.

If you want to:

add a T account combination, select the Add button
insert a T account combination, select the line below where you want the T account inserted then select the Insert button
delete a T account combination, select the T account then select the Delete button
edit a T account combination, double click on a T account or select a T account then press Enter.

If you selected to add, insert or edit a T account, Micronet displays the Edit Sub T Account screen.

Complete the following fields:

	Field	Value
	T1 Account	Enter or select the T1 account for this GL account.
	T2 Account	Enter or select the T2 account for this GL account.
	Active	Select Yes if this T account combination is Active, or No if it is not. For information about Active accounts, refer to the Account Type field on the Account File Update screen – GL Account tab ("File - GL Accounts - GL Account").
	Starting Period	2.8 Feature Select the starting period for the T account combination. The period you select must be at the start of a financial year.

If you want to maintain budgets for this T account combination, refer to "Maintaining Budgets for a GL Account Template".

When you have finished with the Edit Sub T Account screen, select the Accept button.

If you selected to add a T account combination, Micronet redisplays the Edit Sub T Account screen so you can add further T accounts.

When you have finished entering T account combinations, select the Cancel button.

Micronet redisplays the Account File Update screen – T Accounts tab showing all the T accounts added.

Select FILE | SAVE.
If you want to copy your T account combinations to other GL accounts, refer to "Copying T Account Combinations to Other GL Accounts".

2.8 Feature

If you want to copy your T account combinations to your Profit & Loss report, Balance Sheet or for a new financial year, refer to "Copying T Accounts for a New Financial Year (v2.8)".