Setup Add'l GL
Configure accounting titles not found in the standard pre-listed Chart of Accounts to match your industry-specific needs.
In cases where your specific industry or operational needs require an accounting title not found in the standard pre-listed Chart of Accounts, Phecom ERP allows for manual configuration of additional General Ledger (GL) entries.
Determine if the required accounting title is truly missing from the comprehensive pre-listed Chart of Accounts.
Classify the new title correctly under Assets, Liabilities, Capital, Income, or Expenses.
Professional Requirement
"CAUTION: Setting GL is done by an Accountant who knows the nature and Normal Balance of the title."
Assigning the wrong Normal Balance (Debit vs Credit) or improper Account Classification will cause permanent inaccuracies in your Financial Statements. This setting is restricted to senior financial roles.
Hierarchy Awareness
Always consult the primary GL framework before adding custom titles. Many industry-specific requirements are already handled by our multi-dimensional Subsidiary Ledger (SL) system, which might eliminate the need for a separate GL code.