Create a general ledger account

Create a general ledger account for each account in your organization that requires an account number to associate expenses with.

Before you begin

Role required: cost_transparency_admin

About this task

Accounts are associated with all three types of expenses in the general ledger.

Starting with the Helsinki release, account numbers are classified as either an operating expense or a capital expense. This expense type is expressed in budgets to compare operating and capital budget targets versus actual budgeted expenses.

After you upgrade Financial Management to the Helsinki version, the Expense Type field defaults to Operating.

Procedure

  1. Navigate to Financial Planning > Administration > Accounts.
  2. Fill out the form fields (see table).
  3. Click Submit.
    Table 1. General Ledger Account form fields
    Field Description
    Account Number Enter a unique account number for each account.
    Description Enter a detailed description for the account.
    Name Enter a descriptive name.
    Expense type Select the type of expense associated with the account:
    • Operating: An operational expense. If you upgrade to Helsinki from a previous release, all accounts default to this type.
    • Capital: A capital expense.
    Note: After you upgrade Financial Management to the Helsinki version, this field defaults to Operating.