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GL Types, or rather General Ledger Types, are predefined groups for GL Account Records.  GL Types are used for the sorting, grouping and subtotal of GL Accounts on Financial Reports (Balance Sheet and P&L).  GL Type is a required field on the GL Account Record.

GL Type Presets

GL Types are customizable to meet the reporting needs of your organization.  Restaurant365 has the following GL Type presets:

gl-type-presets

Create GL Type

To create a GL Type, a User with the Accounting Manager Security Role can hover over the Account options on the top ribbon and select ‘New GL Type’.

gl-type-create-new

This will open up a GL Type Record which will then allow the User to provide the required information to save the GL Type for use on GL Account Records.

GL Account Record

General

gl-type-general-numbered

Legend:

1) Name – Enter the Name of the GL Type as it will appear on Financial Reports

2) Financial Report – Select the respective Financial Report that this GL Type will reside upon (Balance Sheet vs. Profit & Loss)

3) Type – The Type selector allows the user to choose the corresponding Accounting Type for the new GL Type.  The available Accounting Types in Restaurant365 are as follows:

  • Asset
  • Liability
  • Equity
  • Sales
  • COGS or Prime Cost
  • Operating Expense
  • Non Controllable Expense
  • Corporate Overhead & Other
  • Income Tax

4) Typical Balance – Select the Typical Balance (Debit vs. Credit) for this GL Type.  Restaurant365 GL Type Presets can be used for reference

Report Settings

On the Report Settings tab, Users can specify additional report settings for the GL Type, including the Sort Order, Show Total, show as a Percent Of, and Show Running Total

gl-type-report-settings-numbered

Legend: (see section below for detailed review of ‘Percent of’ and ‘Show Running Total’)

1) Sort Order – The Sort Order for a GL Type is the number in which the GL Type will sort on the Financial Reports.  Review the GL Type Presets Sort Order above to determine the proper Sort Order for your GL Types

 

2) Show Total – Check this box if you want a separate line item at the bottom of the GL Type section on Financial Reports to display the GL Type Total.  This is checked by default

3) Percent Of:

A) None – The default selection for Percent Of is None.  On the Financial Report this GL Type will not have any additional calculations performed/results displayed

B) Type – To display the GL Type balance as a percent of a selected GL Type, select Type in the selector, which will then reveal another selector containing all of the existing (Balance Sheet or P&L) GL Types

C) Account – To display the GL Type balance as a percent of a selected GL Account, select Account in the selector, which will then reveal another selector containing all of the respective (Balance Sheet or P&L) GL Accounts.

4) Show Running Total: This checkbox adds an additional line under the GL Type line item on Financial Reports.  There are three options for Running Totals

A) None – The default selection for Show Running Total is None.  On the Financial Report this GL Type will not have any additional calculations performed/results displayed for the Running Total line

B) Type – To display the GL Type balance as a Running Total of a selected GL Type, select Type in the selector, which will then reveal another selector containing all of the existing (Balance Sheet or P&L) GL Types

C) Account – To display the GL Type balance as a Running Total of a selected GL Account, select Account in the selector, which will then reveal another selector containing all of the respective (Balance Sheet or P&L) GL Accounts.

 

Percent Of

For each option in Percent Of, the Report Settings are displayed below.  The options found under the Percent Of selector are as follows:

1) None – When None is selected, as in the screenshot above, there are no special calculations that occur on the Financial Reports for this Account

gl-type-reports-percent-none1

2) Type – When Percent Of is set to Type, the user can specify a GL Type that resides on the respective Financial Report (P&L or Balance Sheet).  Selecting Type displays the Type selector.  The result on the Financial Report is the value in the ‘% Based On’ column will now display ‘Type: GL Type‘ with the selected GL Type replacing GL Type.

 

gl-type-reports-percent-type

3) Account – When Percent Of is set to Account, the user can specify a GL Account that resides on the respective Financial Report (P&L or Balance Sheet).  Selecting Account displays the Account selector.  The result on the Financial Report is the value in the ‘% Based On’ column will now display ‘Account: GL Account‘ with the selected GL Account replacing GL Account.

 

gl-type-reports-percent-account

 

 

Show Running Total

For each option in Show Running Total, the Report Settings will be displayed, along with the corresponding output on the Financial Report for that setting.  The options found under the Show Running Total selector are as follows:

1) None – As Show Running Total is a checkbox, when checked (enabled) a new field appears where the user can specify a Running Total Label.  By checking Show Running Total, a new line item will appear on the Financial Report below the original GL Type line item.  This field allows the user to name that new line item.

 

gl-type-reports-running-none

2) Type – When Running Total Percent Of is set to Type, as with the Percent Of options above, the user can specify a GL Type that resides on the respective Financial Report (P&L or Balance Sheet).  Selecting Type displays the Type selector.  The result on the Financial Report is the value in the ‘% Based On’ column will now display ‘Type: GL Type‘ with the selected GL Type replacing GL Type.

 

gl-type-reports-running-type

3) Account – When Running Total Percent Of is set to Account, as with the Percent Of options above, the user can specify a GL Account that resides on the respective Financial Report (P&L or Balance Sheet).  Selecting Account displays the Account selector.  The result on the Financial Report is the value in the ‘% Based On’ column will now display ‘Account: GL Account‘ with the selected GL Account replacing GL Account.

 

gl-type-reports-running-account

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