Account Series

The Accounts Series tool simplifies the process of account creation for users with multiple stores or multiple stores and companies. For example, this tool can help you to create cash on hand accounts for each station in one process, instead of repeating the same process of account creation for every station. It is recommended to have sets of similar Asset, Liability accounts for each location.

You can also use the Account Series tool to consolidate the existing accounts.

Also, Account Series can simplify the process of transaction assignment setup for multi store operations. For more information, see Transaction Assignments.

Creating and Editing Account Series

1. On the main toolbar, click Settings>Company.

2. The list of you existing account series is displayed.

   

3. If you want to add a new series, click New. If you want to edit the existing series, select it and click Edit.
4. Make the changes as described further in this topic and click Save and Close.

The creation and editing of account series is similar to working with a single account.

You must provide the following information:

• GL Beginning #. Enter the beginning digits for each account series number. For example, if you are creating Inventory accounts for every location, the first two digits will be 20, and the last two digits will be assigned automatically by the system. 
• Account Series Name. Common name for the account series
• Account Series Type. Type of accounts.
• Subseries Of. Series of accounts can have subseries, exactly like accounts and subaccounts.
• List of accounts included in a series. The list of all accounts created by the system for this series. You can add, delete and change accounts in this list. Highlight the account in a list to work with it. You can choose to create a new account for the station/department, use an existing account or create no new accounts at all.

 Example: List of Accounts Series

Beginning #	Account Series Name	Account Series Type	Number of Accounts
	Accounts receivable:Buy-downs(S)	A/R	22
	AP Gasoline Purchases (S)	A/P	23
	AP Instant Lottery(S)	A/P	20
	AP OnLine Lottery(S)	A/P	20
	AP Sales Tax (S)	A/P	27
	AP Store Purchases (S)	A/P	27
	AR ATM (S)	A/R	25
	AR FS (S)	A/R	26
	Buydown Sales-Purch. Adjustment(S)	A/R	21
	Cash on Hand(S)	Bank	22
	Coupons(S)	A/R	22
	Credit Cards (S)	Bank	21
	Diesel Inventory(S)	Asset	1
	Gasoline Inventory(S)	Other Current Asset	21
	House Accounts(S)	A/R	20
	Instant Tickets Inventory(S)	Other Current Asset	20
	Kerosene Inventory(S)	Asset	1
	Lottery Undeposited Funds (S)	Cash	1
	Shop & Save(S)	Bank	20
	Store Bank (S)	Bank	14
	Store Inventory(S)	Other Current Asset	21
	Undeposited Funds (S)	Bank	22

Last updated: Tuesday, November 6, 2018 Copyright © Petrosoft, LLC
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