Question: Do I have to use the account numbers shown in the examples
for General Ledger?

Answer: We recommend that you follow the basic GL account number scheme: account numbers starting with 1 for assets, account numbers starting with 2 for liabilities, account numbers starting with 3 for equity, account numbers starting with 4 for revenue, account numbers starting with 5 for costs, and account numbers starting with 6 for operating expenses, but you do not have to. However, it is mandatory that you select the right major group for each account. Otherwise, the accounts will not be shown in the right place on the Balance Sheet and Income Statement. If your account numbers are only 3 digits long, enter them padded with two zeros on the front, i.e., enter 111 as 00111.

 

 

 

 
 

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