Chart of Accounts Setup

GU 15, 1 (Chart of Accounts)

Screen 1 - Selection Screen

Screen 2 - Setup G/L Account

• Type of Accounts,
  • AS (Asset),
  • EX (Expense),
  • IC (Income),
  • LI (liability)

Help Screen (Types of Accounts)

Q. Is retained earnings a liability or an asset?

• A. This is a liability that goes into the equity portion of the balance sheet.

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Last modified: November 7, 2011

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