Use the Enter G/L Account Information option in the General Ledger Setup menu to add accounts to the general ledger or edit account information. If you add new accounts to the general ledger, you should reprint a revised chart of accounts to check that you have added all of your accounts accurately.
Step 1. Click Accounting on the FLEX DMS startup menu.
Step 2. From the Dealership Accounting main menu, click Setup. The System Setup menu opens.
Step 3. Click General Ledger.
Step 4. On the General Ledger Setup menu, click Enter G/L Account Information.
Step 5. In the Account field, type the account number for the account you are adding.
Step 6. In Name, type a name for the account.
Step 7. In Type of Account, type the letter that corresponds with the type of account. The accounts are also listed in the upper right corner of the screen.
- A: Asset Account
- C: Cost Account
- D: Deductions From Revenue & Income
- E: Expense Account
- I: Additions To Revenue & Income
- L: Liability Account
- M: Contra Asset Account
- N: Net Worth Account
- S: Revenue & Income Account
Step 8. In Normal Balance (D/C), indicate if the account’s normal balance type is a debit or credit. Type D for debit or C for credit.
Step 9. For scheduled accounts, use the Schedule Index field to indicate the type of account. These schedule options are also listed on the right side of the General Ledger Accounts screen.
- 0: No Schedule
- 1: Vehicle Inventory
- 2: Accounts Receivable (There can only be one trade receivable account.)
- 3: Accounts Payable (There can only be one trade payable account.)
- 4: Miscellaneous Balance Forward
- 5: Miscellaneous Detail Forward
- 6: Combination Retained/Forward
Step 10. In Schedule Controlled With, type a description for the control number the schedule uses (document number, stock number, VIN, customer number, etc.). The description you type here appears as a memo field during posting as a reminder to the operator.
Step 11. In Distribute Entry (Y/N), determine if this account should be distributed. Type Y for yes or N for no. If you type Y, you must also complete the Account Distribution section in the bottom right corner of the screen.
Step 12. In Profit Center (N/U/S/P/B), type the letter that corresponds to the profit center for this account (according to your manufacturer). Type N for New, U for Used, S for Service, P for Parts, or B for Body Shop. This information will be used for reporting and documenting purposes throughout the system.
Other letters may be defined for departments, but it is important that you are consistent. For example, General Motors dealerships will use A for New, B for Used, C for Rental, D for Service, E for Body Shop, F for Parts, and Z for Administration.
Step 13. In Wholesale/Retail (W/R), identify if this is a wholesale or retail account. Type W for wholesale or R for retail. Leave the field blank if the account is neither a wholesale nor a retail account.
Step 14. Use the Account Group Totals (S/T) field to subtotal a group of accounts. The grouped accounts must be in numeric/alphabetical order to work properly. Type S for the account to start with and T for the account to end with. The system totals these accounts and all of the accounts in between them on the trial balance.
Step 15. In the Common Journal Entry (Debit +/Credit -) field, indicate if the account’s normal balance is a debit (+) or a credit (-) balance.
Step 16. Use the Payroll Password Restricted (Y/N/L) field to indicate if this account should be included in the restricted accounts that are password protected. This field works in conjunction with the Password Payroll G/L Accounts utility in the Payroll Setup. If you type Y (for yes to restrict), the Payroll password is required for the account. Any user who enters the password can view all information for the account. If you enter Y here, when you run the utility in Payroll Setup, it automatically flags all accounts that contain information or detail from journal 40 to Y. These accounts will be blocked unless the user knows the Payroll password. You can also select to unblock or allow limited access to accounts by editing the entry in this field.
If you type N for no, the Payroll password is not required for this account, and the user can view all information. This allows you to provide access to accounts that may contain payroll information, such as accounts receivables or new car maintenance, but that do not contain sensitive information that needs to be blocked.
If you type L for limited, the Payroll password is not required for this account. The user can view all information for the account except journal 40 entries.
Step 17. The Restrict Use Of This Account (Y/N) field allows you to restrict operators from using an account. If you type Y, no one can post to this account. This is useful if you are trying to phase out an account so you can remove it from your general ledger. If you enter N, anyone can post to the account.
Step 18. The Allow Bank Reconciliation (Y/N) field allows you to identify the accounts you wish to appear in the General Ledger Reconciliation feature in the Schedules & Documents. The accounts you flag Y for yes will appear in a list on the GL reconciliation screen. You can reconcile all the credits and debits posted to the account in the reconciliation.
Step 19. In Debit To Cost, type the cost of sale account used to post parts and service sales. This field applies to Parts and Service Sales accounts only. Type a Y for yes or N for no in the Scheduled field to indicate if this is a scheduled account.
Step 20. In Credit To Inventory, type the inventory account used to post parts and service sales. This field applies to Parts and Service Sales accounts only. Type a Y for yes or N for no in the Scheduled field to indicate if this is a scheduled account.
Step 21. The If ‘Cost’ is a percentage of the ‘Sale,’ enter here field is used if the cost must be a percentage of the sale. Type the percentage you want to use in this field. This method is usually used for labor.
Step 22. The Account Distribution fields are used in conjunction with the Distribute Entry (Y/N) field. If you type Y in the Distribute Entry field, you must enter the accounts that the amount must be distributed to and the percentage distributed to each account. The total must equal 100%.
Step 23. Click Save to save the account.