Modify Account Groups

Explanation

Use this activity to enter and modify information on account groups used within the company. This mandatory task is to be performed by a system administrator or equivalent person.

Account groups are used for sorting purposes and for term selection in reports. You can also print subtotals per account group in reports. When a company is created, a number of default account groups are created which can be modified in the Account Groups window. An account group cannot be edited or deleted if it is in use. 

Prerequisites

This activity has the following prerequisites:

System Effects

As a result of this activity:

Window

Account Groups

Related Window Descriptions

Account Groups

Procedure

To perform this activity, follow these steps:

  1. Open the Account Groups window.
  2. Query for the account group on which to enter or modify information.
  3. To enter a new account group, create a new record.
  4. In the Account Group field, enter alphanumeric characters for the ID.
  5. To enter or edit the description, use the Description field.
  6. Select Default Currency Balance checkbox if the Currency Balance functionality is used, and a new account created from this account group should by default get the Currency Balance checkbox selected.
  7. Enter a default group account if Group Consolidation is used and a master company has been defined in Company, tab Accounting Rules.
  8. If IFS/Consolidated Accounts is installed, select the parent company's consolidation account from the List of Values.
  9. Save the changes.