About GL Account Maintenance in Aptify

Additional general ledger (GL) accounts are often required due to reorganization of the company, introduction of new products, application of price discounts, addition of new payment types for customers, or other reasons. These accounts are added to Aptify and associated with the appropriate products, product categories, or payment types. Aptify offers the flexibility to change the GL accounts that products, product categories, and payment types are associated with, even after the system has been up and running for a period of time. To do this, create the new account and change the GL account association at the product, product category, or payment type level to make the necessary modifications. After modifying a Products, Product Categories, or Payment Types record, the record will use the new GL account and will not affect the old GL account balances.

It is important to maintain the GL Accounts service in Aptify so that the current list of GL accounts is available to those individuals responsible for setting up new Products and Product Categories records. It is also important for organizations that operate in multiple currencies to have updated GL accounts to handle the gains and losses associated with foreign transactions.

Note that GL Accounts should never be deleted from Aptify, even if they become obsolete. They should be kept, if only for archiving and audit trail purposes. Instead of removing a GL Account from Aptify, mark the account inactive by clearing the Active option on the GL Accounts record. One change that may be required at some point in an organization's future is to change which Accounts Receivable account is the default account. This requires not only selecting the Default option on the GL Accounts record that should be the new default, but also clearing this option on the Accounts Receivable GL Account record of the old default account.