When I run my Balance Sheet Report, I see that some of the accounts are printing the right amount, but show as negative instead of positive. Is there a way to change this?
There is an option to Invert Balance Type. When this check box is selected, it will invert how an account’s balance is displayed on reports from positive to negative or vice versa.
To change whether an account is inverted or not
- From the File menu, point to Open and select Chart of Accounts.
- On the Accounts tab, select Select Accounts and then select all of your checking accounts.
- Double click the account that is printing as a negative.
- On the Report Options tab, in the Advanced section, select or clear the Invert Balance Type check box.
- On the Sort tab, set the 1st Sort Order to Check# and clear the Subtotal check box.
- Press Ctrl+S.
Now when you print the Balance Sheet Report, the accounts will show the same amount but will no longer be negative. Repeat the steps for any accounts that are showing as negative and should be positive or vice versa.
I have accounts in GLS for different profit centers based off of their location. Is there a way I can view reports to see each profit center separately?
Departments can be used as separate profit centers based on locations, timekeepers, or anything for which you want to print individual financial statements. Financial statements can be printed for individual departments or combined ranges of departments. Departments must first be set up, and then each account can be assigned the appropriate department.
To add a department
- From the File menu, point to Open and select Miscellaneous.
- From the Department tab, press Ctrl+N to create a new department.
- Enter the name of your first profit center in the Description field.
- Press Ctrl+S.
- Repeat steps 2-4 for each department you want to add.
To assign a department to an account
- From the File menu, point to Open and select Chart of Accounts.
- Double-click on an account to which you want to assign a department.
- On the Account tab, select the appropriate Department.
- Press Ctrl+S.
When running a financial report, you can select a single department or range of departments on the Account tab, and/or select to run the report with a Report Order of Department on the Sort tab.
A few months ago I created a new account in GLS and journal entries have been entered for that account. However, our accountant has requested that we change the number of the account. Is there a way to change the account number without losing our journal entries?
The Renumber GLS Accounts function can be used to renumber any GLS account, even if journal entries have been posted for that account, or if it has an account balance.
To renumber an account
- From the Maintenance menu, point to Renumber and select Account.
- In the Old Account Number field, select the account you want to change.
- In the New Account Number field, enter the new number for the account.
- Click OK.
This process will automatically change all of the applicable journal entries, deposit slips, and recurring entries to the new account number.
Note: When you renumber an account in GLS it will automatically update the references to the old account number in Tabs3, APS, and TAS integration settings to the new number. However, any GLS report definitions and GLS Report Writer reports that use the old account number must be manually updated.
The Statement of Cash Flows Report (Reports | Statement of Cash Flows) in GLS shows how the firm’s cash position has changed over a period of time. It shows the amount of cash earned from profit, where you received additional cash, and where your cash was spent. The report shows how much cash was provided or used by the following types of activities:
- Operating Activities – Shows how much cash was provided by profit-making activities, such as the sale of goods and services.
- Investing Activities – Shows how much cash was invested in assets such as equipment and furniture.
- Financing Activities – Shows how much cash was provided by long-term liabilities and equity. These financing activities often include loans and investments by the owner. They also include any reductions in equity due to owner draws.
Accounts can be classified into the three sections via Account Setup. All Detail Balance Sheet Accounts, except for ones marked as a Bank Account and the Retained Earnings account, can be configured to display in one of the three designated sections. Bank Accounts are excluded because the purpose of this report is to calculate the cash amounts based on the other information. The Retained Earnings account is also excluded because the Net Income (the net change in Retained Earnings) displays at the beginning of the report as a starting point.
To classify accounts as operating, investing, or financing
- From the File menu, point to Open and select Chart of Accounts.
- Double-click the desired account.
- From the Report Options tab, in the Statement of Cash Flows Classification section, select the desired classification.
- Click Save.
- Repeat steps 2-4 for each account as needed.
We added a new Expense account, but when we run the Income Statement it is showing up in the Income section. How can I make the account show up in the correct place?
Accounts can only be shown in Chart of Accounts order on the Income Statement and Balance Sheet. However, accounts can easily be moved in your Chart of Accounts by dragging and dropping them to the desired location.
To move an account in the Chart of Accounts
- From the File menu, point to Open and select Chart of Accounts.
- Select the account you want to move.
- Click and hold the
icon; the pointer will become a 
. - Drag the selected account to the desired position and release the mouse button.
The account will now be in the order you placed it when printing an Income Statement.
I need to subtotal my GLS accounts in a different order to report on income for a branch of the firm. I know I can re-order the accounts in my Chart of Accounts, but I’m hesitant to change the order because it is already in the order the firm typically needs. I only need this alternate order for reporting purposes; what can I do?
GLS has the ability to set an additional accounts order in your Chart of Accounts specifically for this purpose. This can be particularly useful when you need to subtotal accounts in more than one way.
To print reports using an alternate account order, you must first enable the use of an alternate account order. Once that is done, you can specify the alternate order in the Chart of Accounts.
To enable the use of an alternate account order
- From the Utilities menu, select Edit GLS Client.
- In the Client Number field, select 1.
- In the Options section, select the Allow an alternate account order to be defined in the Chart of Accounts check box.
- Press Ctrl+S.
To set up an alternate account order
- From the File menu, point to Open and select Chart of Accounts.
- Right-click in the Chart of Accounts and select View Alternate Account Order.
- Order the accounts as needed.
To switch back to Chart of Accounts Order, right-click in the Chart of Accounts and select View Alternate Account Order to remove the check mark.
To run reports using the alternate account order, select the Use Alternate Account Order check box on the Account tab of the desired report.
I created a new liability account in the Chart of Accounts. However, I later realized that it needed to be an income account instead. Can the Account Type be changed after saving the account?
A Liability Account Type cannot be changed to an Income Account Type because these types of accounts are not shown on the same Balance Sheet or Income Statement. However, in some cases the Account Type can be changed. Whether or not the Account Type can be changed is dependent upon certain criteria. The Account Type can be changed if all of the following are true:
- If the Account Type is changing to an Account Type that will appear on the same Balance Sheet or Income Statement (e.g., Asset to Liability or Income to Expense).
- If the Advanced Client Costs check box is cleared.
- If no journal entries exist, including deleted ones, for the account.
Did you know that you can set up your General Ledger Software (GLS) accounts in an alternate order for reporting purposes? This can be particularly useful when you need to subtotal accounts in more than one way.
In the example below, you can see how the alternate account order can be used for profit centers. The chart of accounts on the left represents accounts broken down by type (i.e., fee income, expense income, etc.), whereas the chart of accounts on the right represents accounts broken down by profit centers (i.e., Lincoln, Omaha, Grand Island, etc.).
To print reports using an alternate account order, you must enable the use of an alternate account order, and then specify the order in the Chart of Accounts.
To enable the use of an alternate account order
- From the Utilities menu, select Edit GLS Client.
- Select the desired Client Number.
- In the Options section, select the Allow an alternate account order to be defined in the Chart of Accounts check box.
- Press Ctrl+S.
To set up an alternate account order, right-click in the Chart of Accounts (File | Open | Chart of Accounts) and select View Alternate Account Order. You can now drag and drop accounts to their desired position. Once defined, reports can be run using the alternate account order by selecting the Use Alternate Account Order check box on the Account tab of any report that has an Account tab.
When working in General Ledger Software (GLS), your accounts do not typically change much once they have been established. Because of this, it’s easy to forget the ins and outs of making changes to the chart of accounts.
Here are some quick instructions to add a new account or make adjustments to existing accounts when the time comes.
To add a new account
- From the File menu, point to Open and select Chart of Accounts.
- Select the account directly above where you want the new account to appear in the Chart of Accounts.
- Press Ctrl+N.
- The New Account window will be displayed. Select the desired option and click OK.
- The Account Setup window will be displayed. Enter the remaining information for the account and click Save.
- If you are adding a heading or total account, the Create Paired Account window will be displayed, allowing you to select the account number for the paired account.
- Select the desired option for the paired account’s account number and click OK.
- The Account Setup window is displayed. Enter the remaining information for the account and click Save.
- If you are adding a heading or total account, the Create Paired Account window will be displayed, allowing you to select the account number for the paired account.
Changing and moving accounts
When you want to make changes to an account, there are different types of changes you can make:
- Edit the settings for the existing account by double-clicking the account and then making the desired changes.
- Drag and drop the account to a different location in the chart of accounts to adjust the location of the accounts on reports:
- Select the account you want to move.
- Grab the
icon by clicking on it; the pointer will become a 
. - Drag the selected account to the desired position and release the mouse button.
- Change the Account # by using the Renumber Account utility (Maintenance | Renumber | Account).
Now, when you need to make changes to your Chart of Accounts, you’ll be ready!
Tabs3 General Ledger Software (GLS) is a general ledger accounting program that is based on a double-entry accounting system. Chart of accounts and financial statement formats can be defined, allowing you to use your current chart of accounts. The availability of multiple departments allows you to create reports based on certain departments or the firm as a whole. Journal entries track debits and credits. Optionally create budgets for each expense account, and compare budget and actual amounts from year to year.
GLS offers bank and credit card reconciliation, printable deposit slips, summarized or detailed reports to help track your financial data, and more. If you have journal entries that must be made monthly, you can set up recurring entries to easily post a batch of entries once a month in a single process.
GLS can be used as a stand-alone ledger program for any business, or it can be combined with other Tabs3 software for full integration. Journal entries can be submitted to GLS through Tabs3 Billing, Accounts Payable, Trust Accounting, and also Peninsula Software’s PenSoft® Payroll software. Additionally, a standard input format is included, providing the ability to import journal entries from other software.
For more information regarding Tabs3 General Ledger Software, contact your local reseller or our Sales Department at (402) 419-2200.
