Creating General Ledger Accounts

In SnowCloud, General Ledger accounts are used to track financial transactions. In this guide, we’ll walk you through the steps to create General Ledger accounts in SnowCloud.

Understanding General Ledger Codes and Types

Before creating any new GL codes, it’s important to understand the different types of codes available within SnowCloud. These include:

• Accrual Account: Used to track revenue and expenses that are recognized when earned or incurred, regardless of when cash is exchanged.
• Cash Account: Used to track cash transactions.
• Coupon Liability Account: Used to track the value of coupons that have been issued but not yet redeemed.
• Gift Card Liability Account: Used to track the value of gift cards that have been issued but not yet redeemed.
• Tax/Fee Account: Used to track taxes and fees collected on transactions.
• Tips Liability Account: Used to track tips that have been collected but not yet distributed.
• Voucher Liability Account: Used to track the value of vouchers that have been issued but not yet redeemed.

Creating a New General Ledger Code

In addition to the example GL codes provided within SnowCloud, you can create your own custom codes to track specific transactions. To create a new GL code, follow these steps:

1. Start by logging into your SnowCloud account.
2. From the left side navigation menu, click on Accounting, then click on General Ledger.
3. You should now see a list of any GL codes you’ve already created. To add a new code, click on the Plus icon at the top right of the page.
4. First, use the GL Type dropdown to select the type of code you’d like to create.
5. Next, use the GL Code field to enter a unique code for your new account.
6. Optionally (but recommended), add a Title and Description for your new code.
7. Finally, click on the Save New Code button to save your changes.