Your initial Solar Eclipse implementation includes a basic chart of accounts that includes the accounts required for general ledger autoposting. Based on this basic chart of accounts, you can edit, rename, and add new accounts as required for the way you do business.
During the set up process, the system generates general ledger posting requirements. These requirements determine the accounts you need to create. However, before creating your company's general ledger accounts, you must identify the accounts you need based on the type of postings that your business uses. Two posting types require general ledger accounts:
The system requires standard postings. They are based on typical sales activities and tell the system which account to debit purchases or credit sales. An example of some of the accounts the system requires include:
A/R asset account.
Income account to which to post freight-out charges to customers.
Inventory account to reduce by the cost of goods sold.
For a list of these posting types, see the list of Standard G/L Postings.
Sales analysis postings are optional and allow you to analyze your sales. When a sales order is processed, the revenue accounts corresponding to both the product type and sales source are updated. This two-part source of information (product type and sales source) makes it possible for you to analyze sales from more than one perspective in the Operating Statement Report.
For example, if you had three types of products that your company sold (electrical, plumbing, and heating), then you could configure the Operating statement Report to give you sales totals for all electrical product sales for both inside showroom and outside sales. You could then configure another report to give you all inside sales for electrical, plumbing, and heating products.
For more information, see Creating Sales Analysis Postings.
These postings are based on parameters defined in the following categories:
Product types are categories that describe the types of product sold, for example, electrical, plumbing, heating, and tools. To define product types, see Defining G/L Product Types.
Default Product Type is the category for unassigned product types, for example, if you sell a product that does not have a specific product type, the revenue from this sale posts to the Default Sales account. The system creates this posting.
In addition, every product type requires the following sales analysis account:
Transfer Sales is credited when you ship a transfer order.
Transfer Cost of Goods Sold (COGS) is debited when you ship a transfer order.
Purchases is debited when you receive a purchase order.
Transfer Purchases is debited when you received a transfer order.
Sales sources are the profit centers within a company, for example, inside sales, outside sales, warehouse sales, and counter sales. To define sales sources, see Defining Sales Sources.
Default Sales Source is the category for unassigned sales sources. The system creates this posting.
See Also: