GL Accounts | Restaurant365 Customer Center

GL Account Record

The GL Account Record is where the Account specific information for each of the GL Accounts resides in the system. Once you have opened a GL Account Record, the General Tab of the record will be displayed. In addition to the information found on the General tab, the Transactions, and Report Settings tabs are available to users. To create a new GL Account, please see the Add a New GL Account training. Click the button below to download an example General Ledger populated with recommended Account Names, Account Numbers, Cash Flow Categories, Operational Reports Categories, and Parent Account from the National Restaurant Association … Continued

Bank Account Record

GL Accounts can also be classified as Bank Accounts by checking the ‘Is Bank Account’ checkbox on the GL Account Record. Click here for more information on GL Account Records. To create a new Bank Account, please see the Add a New Bank Account training. When a GL Account is identified as a Bank Account, the GL Account will appear in the Bank Accounts List view (located under Banking in the Accounting Module), additionally the GL Account will be made available on the Bank Activity and Bank Reconciliation screens. Click here for more information on Bank Activity, and Bank Reconciliation. The checkbox highlighted … Continued

Parent Accounts & Child Accounts

GL Accounts can have a specified Parent Account (effectively making them a Child Account). Parent Accounts allow users to group Sub-Accounts under one main Summary Account for subtotal and visual grouping on Financial Reports. To assign a Parent Account to a GL Account, select the Account Name of the desired Parent Account on the GL Account Record A Parent Account can have as many Child Accounts as desired. Restaurant365 will support up to four levels of Parent/Child Accounts. For example: 1) Labor 2) –> Hourly Labor 3) –> –> BOH 4) –> –> –> Kitchen Child Accounts will be indented … Continued

GL Types

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: 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’. This will open up a … Continued