GL Account Type Defaults

GL Account Type Defaults specify rules to translate business transactions into accounting transactions.

A GL Account Type stands for a type of business transaction, such as sales, purchase, inventory addition/deletion, expense etc. When we map a GL Account Type to a GL Account, we are instructing CREST ERP to post the financial impact of that transaction to the specific GL Account.

To set up a GL Account Type Default for an Organization, Choose the Organisation on Organization GL Settings home page, to open the Accounting Preferences menus. click GL Account Defaults > GL Account Type Defaults and the home page will show the Create GL Accounts option

Choose the GL Account Type from the list on the left and the corresponding GL Account to capture the transaction. Click Create to save the default.

*More than one GL Account Type can be mapped to the same GL Account, depending on reporting needs. One-to-one mapping would create more granular transactions for detailed reporting

All saved Account Type Defaults are listed on the home page

*You cannot modify a default preset. You must first remove the preset by clicking the Remove link against it and then add a new default preset.