General Ledger Assigned Account Settings

Each module tab described below contains fields into which you specify default GL account numbers the system can use when posting transactions for that module. If GL account numbers for particular accounting categories are not found at the previous level in the account hierarchy, the system uses the default account numbers specified here.

Many GL accounts allow you to enter a wild card in place of the cost center.

At each GL account field on these tabs, you can click the Action button to access the GL Account Entry Screen.

STORIS determines the cost center for transactions and AR balances based on the location assigned to the customer, regardless of the location at which transactions occur. Customer store assignment resides at the Store Assignment field on the Point of Sale tab in the Advanced Customer Settings.

Accounts Payable

For each account description below, the account type lists first. Note that some of the fields on this tab reject any cost center you enter and require you to use the No Cost Center Indicator. To specify the No Cost Center Indicator, use the General Cost Center Indicator field in General Ledger Control Settings.

If either of the below "Paid with" GL accounts is not specified, the system uses the Bank AP Cash GL account.

Enter the GL account number you want to credit when adding a customer refund.

If you use STORIS Accounting, the Customer Refund type AP Bills the Customer Refunds Payable GL account is used if it is populated; otherwise it uses the Accounts Payable GL.

Indicate the GL account to credit for individual EFT payments within an EFT batch. This field must use the General Cost Center Indicator and is inactive when the GL module is not active.

The GL posting for the total EFT batch debits the EFT Payment account and credits the AP Cash account. When searching for an EFT GL account, the posting process references the following hierarchy and uses the first account it finds:

EFT GL Account field in the Bank Settings
EFT Payment GL Account field in the General Ledger Assigned Account Settings
GL Account Number Default ($$$$$^NN)

Accounts Receivable

Other Current Asset

Money owed to you by customers on completed order merchandise or service and/or any other applicable charges. This account debits during sales order completion and credits when AR payments are received.

If using Multi-Company Processing, STORIS strongly recommends you use the wild carding feature to determine the cost center for this account. If you do not enter the wild card (NN), but instead enter a cost center directly, you can balance all companies as a whole, but you cannot balance by individual companies.

Indicate the default GL account to use when a charged off account is repossessed.

Indicate the default GL account to be credited when charge-off overpayments are received. Note: If reversing an overpayment, this account is debited. See also: Overpay Charged Off Accounts for more information.

Indicate the General Ledger account number to use as the offset to the Sales Tax Liability account when posting sales tax adjustments created for Open Item and Revolving Receivables charge-offs. (See also: Accounts Receivable Control Settings and Sales Tax Settings.)

Cash Balancing

Use the next two fields, Prompt and GL Account, to establish the prompt text and GL accounts used when entering petty cash disbursements via the Petty Cash Disbursement screen. Up to 60 sixty prompts and corresponding GL accounts can be entered on this screen. (The Petty Cash Disbursement screen is available from the Balance a Cash Drawer and Balance Approval by Manager routines and is used to disburse an operator-entered petty cash payment amount.)

Finance Receivables

Other Current Asset

Receivables owed to your Company by third-party finance companies.

This account is mandatory if you are using third-party financing.

Other Current Liability

This account will be used for finance payments received from customers at store locations.

This account is mandatory if you are using third-party financing.

Inventory

Cost of Goods Sold

Enter the account to post the difference between the recoverable amount and the material cost of a piece during the Return to Vendor process. This account is checked during the AP bill creation process if the GENERAL LEDGER - Post RTV Valuation Difference At Completion setting is checked in the General tab of Costing Control Settings.

The default account setting is the same account defined in the Valuation Difference field.

If the unit cost entered in the AP bill during initial creation is modified from the Recoverable amount specified in a completed Return to Vendor, any such difference, including differences arising from subsequent changes to the unit cost in an open Return to Vendor AP bill, are also posted to this account.

Asset

Enter the account number (if any) you want to use for vendor chargebacks. Use this account to differentiate vendor chargebacks from normal inventory adjustments.

If using the Vendor Receivables module, enter the Vendor Receivables GL account in this field. Vendor chargebacks create open vendor receivables, which are assets. The Vendor Receivables module uses this account when the transaction code VCB is passed.

If you enter an account other than the Vendor Receivables GL account,

chargebacks do not reflect in Vendor Receivable GL batches, and
the Aged Trial Balance report will not match the GL hits because open receivables will exist in Vendor Receivables with no corresponding GL hit to the Vendor Receivable account.

If not using Vendor Receivables, and you select the Vendor Credit option at the Vendor Chargeback tab in the Enter a Stock Adjustment routine, this account acts as a "clearing" account when the AP bill is created.

If you click on the Action button, the GL Account Entry screen appears, which you can use to select an account number.

Use this field to specify the general ledger account to be debited during order completion. You can enter a wild card in place of the cost center. When completing a sales transaction, the process first checks the Rebate/Trailing Credit General Ledger Account in Advanced Product Settings. If no GL account was specified for the product, the account number indicated in this field is used.

During sales transaction completion, any trailing credits were applied to the order lines are evaluated. For each line with a trailing credit, general ledger postings are added to debit the Rebate/Trailing Credit GL account and credit the Inventory Cost of Sales GL account for the amount of the trailing credit. The cost fields on the invoice are adjusted to reflect the trailing credit. This impacts the line’s margin and also the sales commission if based upon gross profit. The cost of the inventory is not adjusted. The average cost and the cost of the piece are not changed in the costing table.

Sales

Sales Postings

This is a STORIS-locked field. Select the method by which you want to post sales. You have the following options:

Inventory - uses the inventory hierarchy method in which the system searches the following files until it finds a valid account number to which to post the sale.

Group Settings
Category Settings
General Ledger Settings

Transaction Type - determines the transaction type and posts to the appropriate account specified below.

Enter the account to which to you want to post sales transactions. This field is active only if you select Transaction Type at the Posting Method field.

Enter the account to which to you want to post customer returns. This field is active only if you select Transaction Type at the Posting Method field.

Enter the account to which to you want to post exchange sales transactions. This field is active only if you select Transaction Type at the Posting Method field.

Enter the account to which to you want to post exchange returns. This field is active only if you select Transaction Type at the Posting Method field.

Enter the account to which to you want to post debit dollar adjustments. This field is active only if you select Transaction Type at the Posting Method field.

Enter the account to which to you want to post credit dollar adjustments. This field is active only if you select Transaction Type at the Posting Method field.

Use this field to specify a sales line discount account for this group. You may enter the account directly into the field or click the Action button to select an account using the GL Account Entry Screen. This field is validated in the order mentioned in the Post Line Discounts to General Ledger field on the Advanced tab of Point of Sale Control Settings.

Use this field to specify the account to offset the above Sales Line Discount account. You may enter the account directly into the field or click the Action button to select an account using the GL Account Entry Screen. This field is validated in the order mentioned in the note of the Post Line Discounts to General Ledger field on the Advanced tab of Point of Sale Control Settings.

Service

Other Current Asset

This account is posted to when the vendor is responsible for the charges.

This is mandatory only if you are using the Vendor Receivables module.

Vendor Receivables

The following accounts are mandatory only if the Vendor Receivables module is active on your system.

Multi-Company

Importing

Purchasing

Use this tab to determine how rebates impact the general ledger. You may select a wild card in place of the cost center.

Choose an account and cost center to be credited for the vendor's portion of the rebate to reflect revenue earned from the rebate.

If an instant customer rebate is configured to be recognized as a reduction in cost, the account selected here is to be debited for the vendor's portion of the rebate upon completion of the sale. The rebate revenue is not taken as an increase in revenue but rather a reduction in cost, thereby increasing gross profit on the sale.