Category: General Ledger Updates

General Ledger Updates

GL00010: Reclass Terms (NEW)

GL00010: Reclass Terms is used for auto reclassification or recognition based of GL accounts in various periods. The setup structure is similar to SS10: Payment Terms.

Located At:

Main > Core Business > General Ledger > General Setup > Reclass Terms

Initial Tabs, Fields, And Columns:

  • General (Tab Page)
    • Code, Description
    • Reclass Frequency
      • Options:
        • Days From Document Date, End Of Next Month, Day Of Next Month, Days From Day Of Next Month, End Of Current Month, and Semi-Monthly.
    • Use Structure Only? – when checked, hides the Account Setup tab page.
      • Options:
        • Checked And Unchecked
  • Reclass Structure
    • Total
    • Grid – columns appear based on Reclass Frequency
      • If “Days From Document Date”
        • Reclass: Fxd Or %, Reclass: Month, Due Value (F or %), and #of Day/s.
      • If “End Of Next Month”
        • Reclass: Fxd Or %, Reclass: Month, and Due Value (F or %).
      • If “Day Of Next Month”
        • Reclass: Fxd Or %, Reclass: Month, Due Value (F or %), and Day Of Month.
      • If “Days From Day Of Next Month”
        • Reclass: Fxd Or %, Reclass: Month, Due Value (F or %), # Of Day/s and Day Of Month.
      • If “End Of Current Month”
        • Reclass: Fxd Or %, Reclass: Month, and Due Value (F or %).
      • If “Semi-Monthly”
        • Reclass: Fxd Or %, Reclass: Month, and Due Value (F or %).
  • Account Setup (Tab Page)
    • Grid:
      • Realized Account – the account to reclassify or to recognize to.
      • Unrealized Account – the account to reclassify or to recognize from.

Initial Reports:

  • Reclass Terms

Example: