Special G/L Accounts
Special G/L Accounts
The system requires a special G/L account for each special G/L transaction per chart of accounts. The account is defined dependent on the account type (customer or vendor), the special G/L indicator and the reconciliation account.
In your system, you post down payments made. You want to make a distinction between general down payments (special G/L indicator A) and down payments on intangible assets (special G/L indicator I). To do this, you require two special G/L accounts: One account for general down payments (account number 159000, for example) and one account for down payments on intangible assets (account number 159001, for example). You define the accounts that are posted for each transaction by entering the accounts in the system separately per account type, special G/L indicator and reconciliation account (account number 160000, for example).
Account specification is dependent on the chart of accounts. Therefore, you need to change the standard specifications if you do not use the standard chart of accounts. You also need to make changes if you want to use different account numbers for your reconciliation accounts. The standard system uses a country-specific chart of accounts.
In Germany, the account "payables for goods and services" could have the number 160000 and the special G/L account "down payments made" could have the number 159000. If you use different numbers in your company for these accounts, you need to change the standard setting.