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This function allows the accountant to create general ledger accounts. A GL
account is defined by assigning an account number, an account title and an activity
status. The account number assigned by the accountant is merely a key to access
the GL Account. It is not used to format the financial statements. When migrating
from another accounting system, current numbering scheme can be kept. An account
has 3 activity status.
- Active
- Transactions can be posted to this account.
- InActive
- This account has been created but has not been activated yet. No transaction
can be posted.
- DeActivated
- This account has been used for awhile but the accountant is phasing
out the usage of this account. No transaction can be posted. An account goes
from an InActive status, to an Active status, to a DeActivated status. It could
also go from DeActivated back to Active.
Derek Neighbors
2001-03-19