GL Types

GL types help you to organize and maintain the chart of accounts. Each GL type includes attributes that are stored in its field values, and you associate each GL account with a GL type. When you create this association, the GL account recognizes these attributes, which include the account type and the type of usual balance (debit or credit).

Typically, you load GL types when you set up Kenandy for your organization. However, you can also use the GL Types page to add new GL types or edit existing GL types. You cannot delete a GL type after that type is associated with at least one GL account. If you associate a GL type with a GL account in error, find the GL account on the GL Accounts page, and then re-associate that GL account with the correct GL type.

ClosedAssociate a GL Account to With a GL Type
  1. From the GL Types page, click the link for the GL type.
  2. On the GL type detail page that is displayed, click New GL Account in the GL Accounts section.
  3. On the New GL Account page that is displayed, complete the appropriate fields.

    To learn more about the GL Type fields, see GL Type Field Descriptions.

    You can also create a new GL account from the GL Accounts page. To learn more about the fields on the New GL Account page, see GL Accounts.

  4. Click Save.

    For version 4 (or earlier) of financial reports, the GL account that you associate with the GL type is included in the section of the financial statement for the GL type.

ClosedGL Type Field Descriptions

The following table lists the fields that Kenandy provides. Your system administrator selects the fields that are displayed on your user interface.

GL Type Page
Field Description
Account Type

The account type for the GL type. Options include:

  • Revenue
  • Operating Expenses
  • Cost of Goods Sold
  • Other Income (Expense)
  • Tax Provision (Benefit)
  • Assets
  • Liabilities
  • Equity

If you select a revenue or expense account type, then you must select Income Statement in the Statement Type field. If you select an asset, liability, or equity account type, then you must select Balance Sheet in the Statement Type field.

If you select a revenue, liability, or equity account type, then you must select Credit in the Normal Balance field. If you select an asset or expense account type, then you must select Debit in the Normal Balance field.
Accounting Range From

The number of the first account in the range of GL accounts that you can associate with the GL type. To restrict the GL accounts that you can associate with the GL type, enter a value in this field when you create a GL type.
Accounting Range To

The number of the last account in the range of GL accounts that you can associate with the GL type. To restrict the GL accounts that you can associate with the GL type, enter a value in this field when you create a GL type.
GL Type The name of the GL type.
Primary Key An automatically-populated key that uniquely identifies the GL type.
Normal Balance The type of usual balance for the account type of the GL type. Options include: Debit and Credit.
Statement Type

The statement type for the account type of the GL type. Options include: Income Statement, Balance Sheet, and None.

The field applies to version 4 (or earlier) of financial reports.

The financial reporting and year-end close process requires this field.

See Also

 

 

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Version: Spring 2017