MAINTAIN ACCOUNTS

Use this screen to set up and maintain the chart of accounts. In the Link Orgs subtask, you can designate which organizations can charge to the account.

If you have chosen not to validate organizations for accounts (see the G/L Settings screen), it is not necessary to link the organizations, because this is done automatically for all existing organizations when the account is saved. At that time, the closest intersection of the account and org's active fiscal year/period is used for the linked account/org active range. Inactive orgs will also be automatically linked to accounts; however, the resulting account/org Active checkbox will not be selected.

The Clone function is available in this screen.

You must set up accounts before you can link them to organizations and before you can enter them in any transaction or setup screens.

Before using this screen, you will need to set up your overall account structure in the G/L Settings screen and your primary financial statements in the Set Up Financial Statements screen. In addition, you will also need to set up your time collection account types in the Time Collection Account Types screen in the Time Collection (ET) Interface menu of Costpoint Labor.

Account

Enter the account you need to set up. The structure of the account must conform to the number and size of levels defined in the G/L Settings screen; this cannot exceed 15 alphanumeric characters, including the level delimiters. You must first enter the higher levels of an account before a lower level is accepted. For example, 0100 must already exist before you can add 0100-001. Similarly, you must delete lower-level accounts before you can delete a higher-level account.

It is not necessary to enter the dash that separates the levels of the account. The system can automatically insert the separators according to the account structure set up in the G/L Settings screen, as long as you enter all the characters possible for a given level. For example, you would enter 0100, instead of 100, if the first level was four characters.

However, if you would rather enter the dashes and not have to fill the entire level, you can do so for any level of any all-numeric account. If only numbers are entered, the level will be right-justified and padded on the left with zeros.

This field is required. You can use Find to access existing account numbers.

Name

Enter a descriptive name for the account in this required 25-character alphanumeric field. This name will be used on screens and reports to help identify the account. Use the Find feature to locate a specific account.

Detail

Select this checkbox to indicate that this is a detail account. A "detail" account is an account that can be charged. Accounts that are not detail accounts exist solely for rollup purposes.

A detail account cannot have subaccounts. For example, the following scenario would be acceptable: 

The following scenario would not be acceptable:

The default for this checkbox is checked. If you do not select this checkbox, all fields on this screen except Account, Name, and the Detail checkbox are disabled. You will be asked to confirm that it is all right to clear the other fields.

This checkbox is always disabled in Query mode.

In Insert mode, if you decide to change the account from a detail into a summary account, you must first delete any entries in the Link to Accounts subtask in the Maintain Org Elements screen. This option is available only before the new record is saved; once saved, the account cannot be changed from a detail into a summary account.

Project Required

Select this checkbox to indicate that whenever the account is used, a project must be charged. Note that this cannot be changed once the account has been initially saved. The default setting for this checkbox is unchecked.

Active

Inactive accounts cannot be charged. Do not select this checkbox if you need to put this edit in place for the account. The default setting for this checkbox is checked. In Query mode, this field cannot be changed if the account selected is a detail account.

If you do not select this checkbox, you will be asked to confirm the action. If you confirm, all account/orgs combinations for this account will be inactivated when you save the record. If you have purchased Costpoint Inventory, all inventory abbreviation records with an active code not equal to "O" that also match this account will also be inactivated on saving this record.

If you select this checkbox, you will be asked to confirm this action. If you do, all account/orgs where the org is also active will be set to active. If you have purchased Costpoint Inventory, all inventory abbreviation records with an active code not equal to "O" that also match this account will be activated unless their associated org is inactive.

Account Type

Use the drop-down box to select the account type. The account type is for informational purposes and for when you close the fiscal year. It is required only if the account is a detail account. There are six possible account types, which are loaded from the system-defined Account Type table in Account Type Code order:

An edit exists to ensure that the account type you choose is appropriate for the primary financial statement to which you assign the account (Balance Sheet or Income Statement).

Account Entry Group

Use the drop-down box to select the account entry group. Account entry groups are set up in the Account Entry Groups screen. Account entry groups exist to restrict user entry of accounts in transaction screens throughout the system. You must assign each "detail" account to only one account entry group. The default account entry group is "ALL," which means that the account can be used in every transaction screen in the system. This is a required field for this screen.

When you set up your own account entry groups, you use the Link Screens subtask to indicate which screens are available for recording charges to the accounts with that Account Entry Group.

Valid selections for this field must already be set up in the Account Entry Groups table, and display in the drop-down box in Account Entry Group Code order.

Time Collection Account Type

Enter, or use Lookup to select a time collection account type for this optional field. You must have already set up your time collection account types in the Time Collection Account Types screen in the Time Collection (ET) Interface of Costpoint Labor.

Note:  For this field to be active, you must be licensed for ET and your Time Collection Version must NOT be equal to "None," "ET Version 2.x," "ET Enterprise Version 3.x," or "Time Collection 4" in the Corporate Labor Settings subtask in the Labor Settings screen in Costpoint Labor. 

Financial Statement Line

Every account must belong to one line of the primary financial statement. Use this drop-down box to select the line where the account should be shown. Note that the Account Type must be appropriate for the type of financial statement to which the line belongs (Balance Sheet or Income Statement). The following table shows the valid pairings.

Note: The Financial Statement Line drop-down box is populated only with the type you select from the Account Type drop-down box. For example, if you select a balance sheet account type from the Account Type drop-down box, the Financial Statement Line drop-down box will be populated with only those types that are set up as such in the Financial Statement Setup screen. Also, if you select an income statement account type, the Financial Statement Line drop-down box is populated with the income statement types set up in the Set Up Financial Statements screen. The Financial Statement Line drop-down box is not populated until you make a selection from the Account Type drop-down box.

The valid choices come from the FS table, and are sorted in order by code, major heading, group heading, and line. This will keep your income statement lines separate from your balance sheet lines. You will receive an error when you first enter the screen if you have not set up both a primary income statement and a primary balance sheet. When you add an account, the system will make an entry into the Financial Statement Line Account table to connect the account to the FS line chosen.

When you save an income or expense account type, the account type is automatically linked to the Retained Earnings Financial Statement line that has been set up in the G/L Settings screen. You can then view it in the Financial Statement setup screen. If you change an income or expense account type to a balance sheet account, the linked row will be deleted. However, if you changed the retained earnings account in the G/L Settings screen, it will not be deleted. If you delete the entire account, the linked row will be deleted.

This field is required only for detail accounts.

Period Information

The starting and ending fiscal year and period can be used when an account is valid only during a particular period of time. For example, if you were to change your usage of accounts at the end of fiscal year 2003, you would enter the final period of 2003 as the ending fiscal year/period for the old accounts and the first period of 2004 as the starting fiscal year/period for the new accounts.

Leave these fields blank to indicate that the account can be used regardless of the accounting period.

The Fiscal Year drop-down box contains valid fiscal years from the Fiscal Year table, sorted in sequence number order. The Period drop-down box contains valid periods from the Accounting Period table, sorted in period number order.

Other Fields Not Shown

Each account also has eight segment ID fields and seven name fields, which do not appear separately on the screen. The segment ID fields hold each individual segment of the account. The name fields hold the name of every parent that account has. For example:

When you enter an account, all of the segments and names are included with the new account. If a parent account's name changes, its new name is cascaded down to all of its children. An eighth name is not stored, because it would always be the same as the account's main name.

A Top Level Flag field as also stored for each account. If the account only has one segment, the flag is set to "Y." Otherwise it is set to "N."  This flag can be helpful in processing.

Link Orgs

Use this pushbutton to open the Link to Organizations subtask, in which you can indicate the valid organizations that can use the account.

Hint: When you add new income statement accounts, you will assign an income statement FS Line to them in this screen. You must also use the Set Up Financial Statements screen to link the new income statement accounts to the primary balance sheet "current year profit/loss" FS Line you designated in the G/L Settings screen. You must perform this step to ensure an accurate balance sheet. You should add the new income statement accounts to the "current year profit/loss" FS Line of any additional balance sheets you have set up in the system.