When you save files to your computer, you can either quickly save it to your desktop or file them away into folders so you can quickly find them later.
GL Account groups are similar to folders on your computer. They categorize accounts into subgroups for reporting purposes. You can classify your accounts into an Asset group a Liability group, a Revenue group etc.
If your using a Windows based operating system, it comes with a set of predefined folders where you can categorize your files on your desktop. In your My Documents folders, you have a My Music folder, My Picture folders, My Video folders etc. If you don't like the name of the existing folder you can rename them and if you need more folders to organize your files, you can create new folders to accommodate them.
In Accpac, when you create a new company, it comes with a predefine set of account groups but you are free to add more, change the description of the account group and edit the account group ID.
Now if you do decide to add, remove or edit any of the default account groups it may cause some of your standard report to incorrectly display GL accounts under the incorrect account group. This is one common support call we get from customers saying that one of their accounts are being shown under the incorrect account group heading.
For example let’s say by default you first three account groups are defined as follows:
Account Group Code 01 is set to Cash
Account Group Code 02 is set to Accounts Receivable
Account Group Code 03 is set to Inventory
Account Group Code 04 is set to Other Current Assets
You can then assign the above account groups to one of your GL accounts.
In quickbal1.xls (refer to the screenshot below) there is a sample Financial Reporter report for generating a balance sheet. If you review the report specification, you have row headings for Current Assets, Fixed Assets, and Other Current Assets. As you can see in Cell E15, there is a heading for Current Assets. In Cell B16 the function will display accounts from the following account group under the Current Assets heading:
="ACCTGRPCOD = ""01"" OR ACCTGRPCOD = ""02"" OR ACCTGRPCOD = ""03"" OR ACCTGRPCOD = ""04"""
Note: To view the above image in its original size, right click on the above image and click Save Image As to save the image to your Desktop.
Let’s say that you modify the account groups so that Account Group Code 04 is set to Fixed Assets instead of Other Current Assets. What will happen is when you generate the quickbal1.xls report is that any account that is assigned Account Group Code 04 which is now classified as a Fixed Asset, will be displayed under the Current Assets heading instead of the Fixed Assets heading.
So to fix this problem, you will need to modify the report and removed the function” OR ACCTGRPCOD=”04” “from cell B16 so the formula will now look like this:
="ACCTGRPCOD = ""01"" OR ACCTGRPCOD = ""02"" OR ACCTGRPCOD = ""03"
Now place ACCTGRPCOD=”04” function in cell B20. Note there is an existing function “ACCTGRPCOD=”05” already in B20. You will need to evaluate if “ACCTGRPCOD=”05” still belongs under the Fixed Assets heading. If it does you will edit the formula like so in B20 to accommodate ACCTGRPCOD=”04”
="ACCTGRPCOD = ""04"" OR ACCTGRPCOD = ""05""
Just an FYI to users new to Financial Reporter, the Sage Accpac FR Quick Ref.pdf and Sage Accpac FR User Guide.pdf provides exercises and tutorials for using Financial Reporter. You can access these documenters under the Sage ERP Accpac Help menu by clicking Documentation.
If you have any questions, please let us know. We would like to hear from you.