Set Up Asset Accounts
The Account page allows authorized users to create the account element part of the general ledger account number. To set up an asset account asset, follow the steps below:
- Go to Maintenance > new world ERP Suite > Chart of Accounts > Accounts.
- On the Account List page, click Search. A list of accounts appears on the screen. The maintenance buttons also appear at the bottom of the page (i.e., New, Delete, Refresh, etc.).
- Click New to create the account element part of the general ledger account number. The General tab on the Account page is displayed. The account type will default to Asset. To edit an existing account, click the account number hyperlink to open the Account page.
- In Account Number, type the number associated with the account being added, for example: 1010.
- In Account Description, type the description associated with the account being added, for example: Operating Cash.
- In Sub Account Number, type a code for your sub account, for example: 05. This information is optional.
- In Sub Account Description, type a description for your sub account, for example: Building. This information is optional.
Note: Note: The Budgeted check box is disabled when you are setting up an Asset type.
- Select the Subject to 1099 check box if this account is subject to 1099 processing.
- In the Classification drop-down list, select the applicable classification by clicking on the down arrow and selecting the application item from the list.
- Click Save/New after you type an entry and want to add another account. Click Save after you type the last entry.
- Repeat the above steps 4-10 until all Asset Accounts are entered.
Click Reset at any time to return to the previous state the page was in when the page was last saved.
Delete an Account
To delete an account, click Delete.
The Delete button is hidden or disabled if you do not have the appropriate security permissions. If you are authorized, when you click Delete you are prompted to confirm the deletion.
See Also