Reassigning GL Account from Line Item Code for List

You can reset the GL account for GL transactions based on the related line item code's current settings. This functionality only applies to transactions in an open accounting period.

  1. Navigate to Menu > Accounting > General Ledger.
  2. Use the Quick Search bar to find the transactions you want to reassign.
  3. In the menu bar, click Actions > Reassign GL Account for List from Line Item Codes.

This will update the GL Account in the found set of transactions, according to the following guidelines:

  • Inventory transactions currently assigned to an asset account will be updated to the related LIC's Inventory Asset account.
  • Invoice transactions will be updated to the related LIC's Sales account.
  • Purchase order and purchase transactions currently assigned to an asset account will be updated to the related LIC's Inventory Asset account.
  • Purchase order and purchase transactions not assigned to an asset account will be updated to the related LIC's Cost account.
  • Auto-generated GJ transactions currently assigned to an asset account will be updated to the related LIC's Inventory Asset account.
  • Auto-generated GJ transactions not assigned to an asset account will be updated to the related LIC's Cost account.

For all other transaction records, the GL account will stay the same.