Set up General Ledger Transaction Sources
A transaction source is the journal origin of a transaction entered into the general ledger.
The source is a shortened form of the transaction term and represents the transaction type of entry.
You cannot add any new source types, but you can add Sources if necessary. For example, the source CHK represents a check transaction while DEP generally represents a deposit transaction.
Eight source types are set up in the General Ledger, including:
-
Adjustment — A journal entry or correcting entry.
-
Check — A transaction based upon a check.
-
Deposit — A transfer of funds from the originator into the bank account.
-
Check Debit — An electronic deposit of funds to a checking account.
-
Check Credit — An electronic withdrawal of funds from a checking account.
-
Bank Interest — Interest added to an account by the bank of origination.
-
Bank Charge — A service charge imposed by the bank for various transactions, such as insufficient funds.
-
Bank Transfer — A transfer of funds from one bank account to another.
- Under Advanced Tools, click on the Define Lists tab.
- In the list, select General Ledger and click Go
.
- Select Sources, then click Add.
- Enter the Source Code, Source Description, Source Type, and Next Ref. No.
- To add additional sources, select Add Another.
- Click OK.