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Adding, Editing & Deleting Account Group in Ginesys HO

Owned by Deepankana Roy (Unlicensed)
Last updated: Apr 09, 2024 by Aparajita Basu Roy
5 min read

The Account Group are collection of ledgers of the same nature. Account groups are maintained to determine the hierarchy of Ledger Accounts, which is helpful in determining and presenting meaningful and compliant reports. It allows the segregation of the various accounts into groups and sub groups for easier management of the organization’s accounts. This article describes how to set up Account Group in Ginesys HO.

What are the different types of Account Groups?

  1. Assets & Liabilities- While assets are resources that are expected to benefit future operations, liabilities are debts that represent negative cash flows in future. Assets are source of future cash flow; like buildings, machinery, equipment, or inventory of merchandise or investments and liabilities includes accounts payable (goods and service purchased on credit), notes payable (a written promise to pay), other accrued expenses (like wages, interest, taxes).

  2. Income & Expense- Income refers to transactions that have resulted in positive cash flow on a regular basis and Expense refers to negative cash flows on a daily basis.

Prerequisites

  1. The users' role must have access to the Accounts Group feature by enabling Add app operation for the feature in Admin - Security - User - Role through Finance - Setup - Chart of Account.

Step-by-step guide 

The steps are as follows:

  1. Go to Finance >  Setup > Chart of Account > Account Group.

  2. Account Group module will open.

  3. You will get two sections - Assets & Liabilities and Income & Expense.

  4. There are Group Node and Leaf Node in every section.

  5. Group Node: 

    1. You will get four options for Group Node - Add, Edit Group, Expand All and Collapse All. You can operate those options by right clicking on the group node.

    2. Click on Add option.

    3. A new Group will be added instantly.

    4. You can add name of the newly created group.

  6. Leaf Node:

    1. A Leaf Node is a node which has no tagged ledgers or child nodes.

    2. You will get four options for Leaf Node - Add, Edit Ledger Group, Edit Ledger Sequence and Delete. You can operate those options by right clicking on the group node.


    3. Click on Add option.

    4. A new Node will be added instantly.

    5. You can add name of the newly created node.

 

 

  1. Prerequisites

    1. The users' role must have access to the Accounts Group feature by enabling Edit app operation for the feature in Admin - Security - User - Role through Finance - Setup - Chart of Account.

Step-by-step guide 

The steps are as follows:

  1. Go to Finance >  Setup > Chart of Account > Account Group.

  2. Account Group module will open.

  3. You will get two sections - Assets & Liabilities and Income & Expense.

  4. There are Group Node and Leaf Node in every section.

  5. Group Node: 

    1. You will get four options for Group Node - Add, Edit Group, Expand All and Collapse All. You can operate those options by right clicking on the group node.


    2. Click on Edit Group option.

    3. Edit Account Group will open.

    4. You can edit only group name.

  6. You can also tick the the Extinct checkbox to extinct the Account Group.

 

Ledger Group functionality is required to make useful reports so that the reports can be understood better.

Prerequisites

  1. The users' role must have access to the Accounts Group feature by enabling Edit Ledger Group app operation for the feature in Admin - Security - User - Role through Finance - Setup - Chart of Account.

Step-by-step guide 

The steps are as follows:

  1. Go to Finance >  Setup > Chart of Account > Account Group.

  2. Account Group module will open.

  3. You will get two sections - Assets & Liabilities and Income & Expense.

  4. There are Group Node and Leaf Node in every section.

  5. Leaf Node: 

    1. A Leaf Node is a node which has no tagged ledgers or child nodes.

    2.  You will get four options for Leaf Node - Add, Edit Ledger Group, Edit Ledger Sequence and Delete. You can operate those options by right clicking on leaf node.

    3. Click on Edit Ledger Group option.

    4. Edit Ledger Group will open.

    5. You can edit only ledger group.

 

Ledger Sequence functionality is required to make useful reports so that the reports can be understood better.

Prerequisites

  1. The users' role must have access to the Accounts Group feature by enabling Edit Ledger Sequence app operation for the feature in Admin - Security - User - Role through Finance - Setup - Chart of Account.

Step-by-step guide 

The steps are as follows:

  1. Go to Finance >  Setup > Chart of Account > Account Group.

  2. Account Group module will open.

  3. You will get two sections - Assets & Liabilities and Income & Expense.

  4. There are Group Node and Leaf Node in every section.

  5. Leaf Node: 

    1. A Leaf Node is a node which has no tagged ledgers or child nodes.

    2.  You will get four options for Leaf Node - Add, Edit Ledger Group, Edit Ledger Sequence and Delete. You can operate those options by right clicking on leaf node.

    3. Click on Edit Ledger Sequence option.

    4. Edit Ledger Sequence will open.

    5. You can edit only view the fields.

 

 

 

 

 

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To go back to the main page click on the link : How To: Manage Setup in Ginesys Finance