RDA Systems Inc

What This Process Does

• Creates a balance sheet account code that is available for use throughout OpenRDA.
• Creates an Account Year Master for the Fiscal Year selected for the account code, which is required for the account code to be used.
• Allows for the user to create the account code without the assistance of the Chart of Accounts.

Best Practices

• It is recommended that all account codes be created using the Chart of Accounts to build the dimensions of each account code.
• For reporting, if an account code is used with this process, each dimension that is not present in the Chart of Accounts will not have a description of what category/header it falls under. This may make it difficult to view reports properly.
• Make sure that an Account Year Master exists for the new account code in the desired Fiscal Year. If one does not, the new account code can not be used. To check for the Account Year Masters, follow the steps below:
  1. Finance → Financial Management → Query → G/L Account Masters → Years
  2. Range on the new account code and on the fiscal year. Hit the Select button. A browse screen will show.
  3. If the account code is shown with the proper fiscal year, the Account Year Masters is present and the account code can be used.

Requirements

• Make sure the account code being created does not already exist in OpenRDA.

Creating Balance Sheet Account Codes w/o Chart of Accounts

1. Finance → Financial Management → Setup → Account Master Setup → Add Non-COA Based Accounts → G/L
2. Type in the account code you wish to create.
3. Fill in a description of the account code being created.
4. Choose the fiscal year you wish for this account code to be created for.
5. Populate remaining fields if necessary.
6. Click Save.