C - Miscellaneous Topics

Chart of Accounts: Alternative Samples

The three reports on the following pages show alternative charts of accounts for a retail operation, a manufacturing operation, and a construction company.

These G/L Chart of Accounts are on the distribution disk as GL1.B (Retail), GL2.B (Manufacturing) and GL3.B (Construction). If you want to use one as your Chart of Accounts copy the appropriate file to BKGLCOA.B in your \ADV50 subdirectory or wherever your data is located.

Making a one-sided journal entry for Advanced Accounting 7

Under normal operation, you should not ever have to make a one-sided General Journal Entry. However, there are special cases where this operation is necessary (for example, if you have a power failure while Advanced Accounting 7 is in the process of a two-step operation and completes only the first step). The procedure below creates the correcting entry and places the offsetting entry outside your normal range of accounts without altering your audit trail.

1.	Create a new account, such as 'Z' with type 'O' (owner's equity).

2.	Print a Detailed Trial Balance (GL-E) and/or the appropriate Journal(s) (GL-D) to determine whether a debit or a credit entry is required, and to what account it should be posted.

3.	Make a General Journal Entry (GL-B) based on the amount and account type you determined. In most cases, this will be a standard General Journal Entry (Type 1) although there may be cases where you might need to update your checkbook using Cash Disbursements or Cash Receipts.

Make the other side of this journal entry to account Z for the same amount. This will force a balance in the account that is out of balance.

4.	Check your Financial Statement setups (GL-F, or GL-O, if you have used custom financial statements) to ensure that the account you have set up for one-sided entries does not fall into the ranges of account codes for your financial statements.

Any time after you have made this adjustment, your procedure for printing your Detailed Trial Balance (GL-E) should include a check to confirm that account Z (or whatever account you have set up for one-sided entries) is NOT included in the range for accounts to print. This will ensure that only the accounts that are in balance will be printed.

Again, you should not use this approach for journal entry except for exceptional circumstances.

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