General Ledger Account Categories

In this post, I will be comparing General ledger Account Categories in both MS Dynamics GP and Business Central as it is needed for next article (General ledger Accounts).

In MS Dynamics GP, the category is one level only, It is a field in the Account Card, and this field is a lookup field from the Categories which is an editable list.

In Business Central, There are two levels as follows:

• Level 1: This level doesn’t exist in MS Dynamics GP, and it is called “Account Category”, it is an option list field in the “G/L Account Card” page and it is not editable, values can be on of the following:
  • Assets
  • Liabilities
  • Equity
  • Income
  • Cost of Goods Sold
  • Expense

• Level 2: This level is similar to MS Dynamics GP and it is called “Account Subcategory”, it a lookup from “G/L Account Categories”. This is a modifiable list similar to MS Dynamics GP but with more features.

Now, let’s have a closer look at the “G/L Account Category” in both systems.

As I explained before, Account Category in MS Dynamics GP is a list of records that can be modified by going to Tools -> Setup -> Financial -> Category. This list can be modified manually by adding and removing records, macro or even update the table directly in the SQL (Copy the records from excel and paste them in the table directly, trust me it works :))

In Business Central, this list was taken to the next level. To open the list Search for “G/L Accounts Categories” and click on the related link,

Once you open the related link from the search, Business Central will open “G/L Account Categories” page.

Features:

• All G/L Subcategories
  • Can be organized in hierarchy.
  • Should be assigned to Account Category.
  • “Balance” is automatically calculated, it is even:
    • The summation of the lines balance below the sub category line. or
    • The summation of the balances for the related accounts specified in the “G/L Account in Category” field
  • Lines can be moved up or down by going to Process -> Move Up or Move Down.
  • Lines can be Indent or Outdent by going to Process -> Indent or Outdent.
  • To delete a line, be sure that :
    • The “G/L Account in Category” field is “Blank” and
    • “Block Deletion of G/L Accounts” is Fales in the “General Ledger Setup” Page.
  • Accounts Schedules can be created directly from G/L Subcategories. (Business Central Accounts Schedules is similar to MS Dynamics GP Advanced Financials).

Finally, It is worth to mention that the main purpose for the accounts categories is reporting.

Hope this helps.

Until next port.