Accounts

Each account also has eight seg ID fields and seven name fields, which do not appear separately on the screen. The seg ID fields hold each individual segment of the account. Each segment is separated by a delimiter and has a pre-defined length from the G/L Settings screen (Administration\Configure\Accounting). The name fields hold the name of every parent that account plus its own account name. As shown in the example, account 100 would be the parent for account 100.002 and 100.002.3 and account 100.002 would be the parent for account 100.002.3 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 cascades 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.

In the example above, there are three account levels of account "0100". In Costpoint, you can never "stack" detail accounts. Therefore, accounts "0100" and "0100-002" (parent accounts) would be considered summary-level accounts meaning that the detail flag was not checked on those two accounts. Only "0100-002-3" will be a detail account and can be charged or have entries posted to it.

A Top Level Flag field is 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.

Enter the account number. The structure of the account number must conform to the number and size of levels defined in the G/L Settings screen, which cannot exceed 15 alphanumeric characters, including the level delimiters.

You must first enter the higher levels of an account before the system can accept a lower level account. 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.

In the above example, there are two account levels of account "0100" set up: "0100" and "0100-002." In Costpoint, you can never "stack" detail accounts. Therefore, account 100 (parent accounts) would be considered summary-level accounts. This means that the detail flag was not checked on that account or you would not have been able to set up "0100-002."

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, if the first level is four characters, enter "0100" instead of "100".

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

You can use Query to access existing account numbers. You can edit all fields except the Account Number, Detail Flag, and the Project Required Flag fields.

Enter a descriptive name for the account in this required 25-character alphanumeric field.  This name will display on screens and reports to help identify the account.  

Select this checkbox to indicate that this is a detail account. Only "detail" accounts can have charges entered and have amounts posted to the General Ledger.  Accounts that are not detail accounts exist solely as summary-level accounts. Reports can be run at the summary level accounts where all account activity charged to the detail accounts below the summary level account will be rolled up.

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

The following scenario is not 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 it is acceptable to clear the other fields.

Once you have selected or deselected this checkbox and saved the record, it becomes unavailable.

 

Select this checkbox to indicate that a project must be charged, whenever the account is used.

When a project-required account is used in data entry, the system will also validate that the acount is in the Project Account Group of the project that is charging the account. Depending on the project setup, you may also need to link the account to the project in the following screens:

• Project/Account Links screen (Projects/Maintain/Projects) if the Limit Accounts checkbox is selected in the Project User Flow screen (Projects\Maintain\Project).

• Project/Organization Links screen (Projects/Maintain/Projects) if the Limit Organizations checkbox is selected in the Project User Flow screen (Projects\Maintain\Project).

• Project/Account/Organization Links screen (Projects/Maintain/Projects) if the Limit Accounts to P/O/A or theLimit Which Orgs can charge Specific Accounts checkbox is selected in the Project User Flow screen (Projects\Maintain\Project).  

You cannot change this checkbox once the account has been saved.  

The default setting for this checkbox is unchecked.

This checkbox is only available if the Detail checkbox has been selected. Inactive accounts cannot be charged in data entry screens. However, inactive accounts can be posted to the General Ledger. 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 but you can change this checkbox in Query mode if the account selected is a detail account. If there is a change made to this checkbox for an existing account, the system will prompt you to confirm the action.

If you confirm and have unchecked the box, all account/org combinations for this account will be inactivated when you save the record.

If you have purchased Costpoint Inventory, all inventory abbreviation records in Inventory Projects/inventory Abbreviations with an active code not equal to "O" that also match this account will also be inactivated when you save this record.

If you select this checkbox for an existing detail account that was previously inactive, the system will prompt you to confirm this action. If you do, all account/orgs in which the org is also active will be set to active. Account/orgs in the inventory abbreviation records will not be activated.

Use the drop-down box to select the account type.

The account type is for informational purposes. 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:

Account Type	Financial Statement Type
Asset	Balance Sheet
Liability	Balance Sheet
Stockholder's Equity	Balance Sheet
Income	Income Statement
Labor Expense	Income Statement
Non-Labor Expense	Income Statement

The account type you select also determines which primary financial statement lines will be available for selection tin the financial statement line field as indicated above.

The account tye selected will also be used when closing the fiscal year. All account types that are Income, Labor Expense, or Non-Labor Expense will be summed and rolled into the retained Earnings Account in the G/L Settings screen (Administration\Configure\Accounting).

Enter, or use Lookup to select, the account entry group. Account entry groups exist to restrict user entry of accounts in transaction screens throughout the system and must be set up before you can begin entering "detail" accounts in the system. You must assign each "detail" account to only one account entry group.

 

Note:  It is recommended that accounts used as pool allowcation accounts be linked to account entry groups that restrict user entry to PAJ (Project Allocation Journals) only. Since the computed amount to post for pool journals is determined by the balance of those accounts in the General Ledger, it is important that only pool journals be allowed to post to those accounts. The same is true for the Accounts Payable account. Since this account balance is used to tie to the Open A/P report, only APV (Enter A/P Vouchers) and POV (Enter PO Vouchers) should be present in this 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.

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.

 

Note: For this field to be active, you must be licensed for Time Collection and/or Expense 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 of the Labor Settings screen.

Each account must belong to one line of the primary income statement or balance sheet. You must map your primary income statement and balance sheet before setting up "detail" accounts.

Use Lookup to select the financial statement line where the account should display. Note that the Account Type selected will determine which primary financial statement lines (Balance Sheet or Income Statement) will display for selection.

The following table shows the valid pairings:

Account Type	Financial Statement Type
Asset	Balance Sheet
Liability	Balance Sheet
Stockholders Equity	Balance Sheet
Income	Income Statement
Labor Expense	Income Statement
Non-labor Expense	Income Statement

 

Note: The Financial Statement Line Lookup is populated only with financial statement lines appropriate for 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 Lookup will populate with only those financial statement lines that you set up for the primary Balance Sheet in the Financial Statement Mappings screen (Accounting\Maintain\Financial Statements.) Also, if you select an income statement account type, the Financial Statement Line Lookup populates with the income statement lines that you set up for the primary Income Statement in the Financial Statement Mappings screen (Accounting\Maintain\Financial Statements.) The Financial Statement Line Lookup does not populate until you make a selection from the Account Type drop-down box.

The valid choices come from the FS table, and sort in order by code, major heading, group heading, and line.

The system will display 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 makes an entry into the Financial Statement Line Account table to connect the account to the FS line chosen.

When you save an income or labor/non-labor account type, the account type is automatically linked to the Retained Earnings Financial Statement line that you set up in the G/L Settings screen. In addition, these accounts will be zeroed-out and the balance placed into the Retained Earnings account (that you set up in the G/L Settings screen - Administration\Configure\Accounting) when you run the process to Update GL Beginning Balances.

If you change the account type of an existing account, the financial statement line information will be deleted and you will be required to select another financial statement line before you can save the account.

This field is required only for detail accounts.

Enter, or use Lookup to select, a starting fiscal year.

This will be the fiscal year that will define the beginning fiscal year of the period of performance for the account. If this field is left blank, there will be restrictions on the beginning of the period of performance.

Enter, or use Lookup to select, a starting period.

This will be the period that will define the beginning of the period of performance within the starting fiscal year for this account. Yu cannot enter a starting period unless you have already entered a starting fiscal year.

Enter, or use Lookup to select, an ending fiscal year.

This will be the fiscal year that will define the ending fiscal year of the period of performance for the account. If this field is left blank, there will be restrictions on the end of the period of performance.

Enter, or use Lookup to select, an ending period.

This will be the period that will define the end of the period of performance within the ending fiscal year for this account. You cannot enter an ending period unless you have already entered an ending fiscal year.