Normally, the COA will be imported into the system during the implementation.
This topic shows you step-by-step how to create a new GL account adding to your existing COA.
Locate the menu under Finance & Administration > General Ledger > Chart of Accounts.
Please reach out to your WorkBook admin or the consultant if you cannot find the module/menu.
ON THIS PAGE YOU WILL FIND: |
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CREATE A NEW ACCOUNT
From the Chart of Account view, click on the icon 
to create a new account.
Account number: a unique GL account number (May include letters but this is NOT recommended)
Account name: name of the GL account
Account type: The type of finance account.
Operating account: to identify the P/L accounts.
Balance sheet account: to identify the BS accounts.
Header: to identify this account will be used as the “starting-from” account. There will be no entry that can be posted against this type of GL account.
Sum from account: to identify this account will be used as the total account. This type will be used together with the next field “Sum from account”. There will be no entry can be posted against this type of GL account.
Sum from account: Select the account number that will be summed from and down to this line (usually the account with type is set Header will be selected in here). This shows the sub-total for a group of accounts for reference purposes.
Line number: The sort order of the account on the chart of accounts view. It is recommended to have the line number and account number the same.
Add this account to all companies: if you have multiple companies set in the system, this option allows you to add this new account to all existing companies so that you need not repeat the steps in the other companies.
Click OK to confirm and proceed with creating a new account.
It is possible to have many levels of accounts in WorkBook. Usually, it is recommended to use the Header type and Sum from the account to group the accounts under each level and using the indentation to arrange the accounts.
UPDATE AN EXISTING ACCOUNT (ACCOUNT PROPERTIES)
Once finished creating the new account, find and select the account from the list for further settings and/or editing (You can do the same for the existing accounts).
Account Settings
From the list of accounts, select the account that has just been created.
Then click on the sidebar option
> Account Settings tab
You will be able to find and edit the information that has been entered before.
Except for the account number, it is required to use the “Change account number”
option to edit. There will be a pop-up window that lets you enter the new account number when clicking on that button.
Act VAT (GST) code: The activity VAT code is defined on each finance account and determines the handling of VAT deduction.
Refer to topic Settings > Finance > VAT / GST Settings
Using for European countries only; leave blank for other countries outside Europe.
Automatic (checkbox): is a setting that prevents users from posting manually on a finance account.
Select the checkbox if the account should be an automatic account.
Leave it unchecked if the account should NOT be an automatic account.
The system requires certain accounts used in the finance setup (Settings > Finance) must be set as “Automatic”. Otherwise, WorkBook will prevent all financial posting in the system.
If it is required to have manual posting on an “Automatic” account, the system variable 484 may be used to override the restriction.
This can only be done by the System Administrator and is recommended to turn off when finish posting the manual entry against the automatic account.
Creditor invoice (checkbox): Allows the GL account to be used when registering a Creditor (AP) invoice. It is recommended to leave those accounts not used for costs or accruals unchecked.
Report Settings: these settings will be used for generating the financial reports and as well as on the COA list view.
Line number: The sort order of the account on the chart of accounts view. It is recommended to have the line number and account number the same.
Indentation: to define how many spaces will be added in front of the account name in the Chart of Accounts and some other financial reports.
Enter 0 = Do not indent the account.
Enter 1 = Indent the account by 1 space
Enter 2 = Indent the account by 2 spaces and so forth
Line Feed: to create a number of empty lines after this account on certain reports
Line Style: Adds a style to the account that will be used on certain finance reports with the options below:
No style
Line under
Line over
Line under and over
Background colour grey
Frame (box around the account)
Force page break after this account (checkbox): Inserts a page break after this account on certain finance reports. Select the checkbox if want to insert a page break, leave the checkbox unselected if don’t want to.
Reference Codes: a custom code used for reporting or grouping accounts; this may also be used for integration purposes. There are up to 5 reference codes that can be set on an account.
Ext. Number: An external reference number for the account if it is required to map with another finance system. This is usually used when there is an integration between WorkBook and another finance system.
Dimension
This menu allows defining a specific dimension that you want to track on the GL account level.
To define the relevant dimension,
Select the account from the account list
Toggle on the sidebar property and click the icon
to assign the dimension to the selected account. Click Create button to confirm adding the dimension to the account.
You can define as many dimensions as needed on a GL account.
The dimension must be set to enable in General Ledger under “Settings > Dimensions > Dimension setup” so that it can be selected in this view.
Finance Account Approval
This is an approval process that is used on the Creditor Invoice (Supplier invoice).
Usually, the finance account approval process is set up for the special account that required a more senior manager to approve in addition to the normal Creditor approval process defined under “Settings > Company approvals”.
To add a new approver to the selected account, click on the icon and select the employee from the pop-up window.
Employee: select the approver from the dropdown list
Priority: the priority level to raise the approval notification (1 is the highest priority).
Trigger amount: Which amount will trigger this approval process?
Allow move of approver (checkbox): does it allow to move the request to another approver? Select the checkbox if it is allowed; Leave it unchecked if it must be this specific approver to approve the request.
Active (checkbox): is this an active approval process?
Account Name Translation for Reports
This menu allows translating the account name into different languages in WorkBook. This translation will only be used when generating financial reports but will not make any change in the user interface.
Finance Account Period balance
This menu allows tracking the balance of the selected account per each accounting period defined in the system starting from the beginning until today.
