If you have access to the General Ledger in Elite, you will be able to add a new general ledger account.
NOTE: The system comes pre-loaded with General Ledger accounts that already have appropriate names and are assigned to the correct categories. It is recommended that you use these existing accounts and simply rename them to names that better suit your needs.
For example, the system includes a General Ledger account called “Rent”, which is assigned to the category “Other Operating Expenses.” Instead of creating a new account, you can rename this account to something more specific, such as “Rent - 12 Main Rd.”
By renaming existing accounts rather than creating new ones, you can avoid cluttering the General Ledger with unnecessary additional accounts.
IMPORTANT: Do not rename or make any changes to CONTROL accounts.NOTE: To see which General Ledger accounts are used as CONTROL accounts, click the following link: Where do I view the Control Accounts used by the system?
NOTE: To view a list of the preloaded General Ledger accounts, click the following link: How do I search for a General Ledger account?
STEPS:
1. Click the left Hamburger menu icon.
2. Click on the Accountant menu.
3. Open the General Ledger module.
4. Click on the Insert button in the navigation bar, this will clear all the fields on the current screen:
NOTE: Please ensure that you click the Insert button before creating a new General Ledger account. If you do not click Insert, you may accidentally override an existing account that already contains transactions, which could lead to confusion in the ledger.5. Complete the following fields: Account Name and Category.
NOTE: The Category is very important, as it determines whether the General Ledger account will be classified as a Balance Sheet or Income Statement account. It also determines whether the account will fall under Income, Expenses, Assets, or Liabilities.
We recommend that you consult with your accountant or auditor BEFORE creating the account to ensure that the correct category is selected.6. Click on the Save button in the navigation bar:
