Add or Modify an Account Set

Sage ERP Accpac Accounts Payable 6.0

Add or Modify an Account Set

Before you start

  • Decide on the code for a new account set you want to add.
  • Determine the general ledger account numbers to assign to a new account set you want to add.

    You need to know the numbers to use for these general ledger accounts:

    • Payables control
    • Payment discounts
    • Prepayments
    • Retainage (if you use retainage accounting)

    If you use multicurrency accounting, you also need to know the currency code for each account set that does not use the functional currency, as well as the account numbers for:

    • Unrealized exchange gain (depending on your Gain/Loss Accounting Method)
    • Unrealized exchange loss (depending on your Gain/Loss Accounting Method)
    • Exchange gain
    • Exchange loss
    • Exchange rounding
  • If you use multicurrency accounting, you cannot change the currency code assigned to an account set.
  • You can delete an account set only if it is not assigned to vendor records (including vendor groups).

To add a new account set:

  1. Choose Account Payable> A/P Setup > Account Sets.

Click here for help on the fields on the Account Sets form.

  1. In the Account Set Code field, type a unique code, using up to six characters, to identify the account set.
  2. In the Description field, type a description of the account set.
  3. Type or select the general ledger account numbers that make up the set.

     If you use Sage ERP Accpac General Ledger with your Accounts Payable database, a Finder icon appears beside each general ledger account field. Click the icon or press F5 to display a list of general ledger account numbers. Highlight the account you want, then press Enter to insert it in a field.

In a multicurrency account set that does not use the functional currency, you must also enter the currency code and account numbers for the unrealized exchange gain, unrealized exchange loss, realized exchange gain, realized exchange loss, and exchange rounding accounts.

You cannot change the currency code assigned to an account set after you add the set.

  1. When finished, click the Add button.

To edit an account set:

  1. Open Accounts Payable > A/P Setup > Account Sets.
  1. Select the account set you want to change.
  2. Make your changes.
  3. Click Save.

To delete a terms code:

  1. Open Accounts Payable > A/P Setup > Account Sets.
  1. Select the account set you want to delete.
  2. Click Delete.

If a message appears asking you to confirm the deletion, click Yes.

After adding an account set

  • Print and file the Account Sets report.