About Account Groups

Sage 300 ERP uses account groups to classify account balances:

• On the financial statements that come with Financial Reporter.

  The sample statements are designed for Sage 300 ERP sample data, and retrieve data using standard account groups.

  To use the statements with your own data, you must either:

  • Assign the same standard account groups to your accounts.
  • Customize the sample statements to match the account groups that you have set up for your company.

• In the Income Statement and Balance Sheet snapshots that you view in the Sage 300 ERP portal.

  These snapshots retrieve data from a set of group categories that are linked to general ledger accounts through the standard account groups.

  If you plan to use the Income Statement and Balance Sheet snapshots, note that before you configure the snapshots, you must:

  • Assign all account groups to appropriate categories from the standard set of group categories that comes with General Ledger. You can assign any number of account groups to the same category.
  • Assign all general ledger accounts to appropriate account groups.

  Otherwise, the snapshots may display incorrect information, or no information.

Customizing Account Groups

You can use account groups whether or not you also use Financial Reporter's standard financial statements or data snapshots.

If you do not plan to use the General Ledger snapshots or the standard reports that come with Financial Reporter, you can add any new account groups that you need, or delete any account groups that you do not need.

You can reassign account groups to different group categories. However, we recommend that you consider such reassignment very carefully.

Note: You cannot change the standard set of account categories or the sort codes that come with General Ledger.

Note the following additional characteristics of account groups:

• You can change the descriptions for the account groups to suit your business needs.
• One account group can be used by many accounts.
• One sort code can be used by many account groups.
• The system assigns the Unclassified account group to accounts that use a blank account group code.

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