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GL CODES

Function
Enter, edit, or print general ledger codes to assist in the preparation and accuracy of journal entries.

Fields

Code 
Enter up to a 10-digit numeric code to be established.

Description 
Enter descriptive text to be attached to the code number just entered.


Things You Should Know
GL Codes are not required for routine use of GMS-RLSS software. However, they are required prior to the production of journal entries. In order to produce a viable journal entry, codes must be established for the various aspects of loan activity, including:

Type of Account
 
Notes Receivable and/or Expense Account
 
Notes Receivable and/or Revenue Account
 
Cash Account and/or Loan Clearing Account 
 
Cash Account and/or Liability Accounts

Revenue Accounts 

Related Loan Activity

Disbursements

Principal Repaid

Disbursements and Repayments

Escrow Activity

Interest, Penalties, NSF Fees, and Misc. Fees

Codes should correspond to the chart of accounts in use by your accounting department and must be between one to ten digits.