General ledger codes (or GL codes) are used for recording company assets, income and expenses.
They are used as short-hand references for recurring accountancy data and can make it easier to locate specific figures. Each credit or debit entry is assigned a unique number to use as a short hand reference – these numbers are your GL codes. Qtac can set standard codes or you can manually create your own.
Setting up GL Codes
Setting up General Ledger codes (GL codes) is a simple process. The software has two sets of default codes built in for ease of use. These are setup to work with Mamut Business Software and Sage 50.
Once you have selected one of these options it will automatically populate the boxes with GL codes. You can then export them as normal and it will be compatible with the relevant accountancy software.
Alternatively, you could also create your own codes using ‘Company‘ > ‘Div/Dep/Loc/GL Codes‘. Once you have created your own codes you can then use them to set up your General Ledger screen.
A little bit about us...
Qtac, a recognised payroll solutions provider in the UK, has been serving businesses for 30 years. Specializing in both payroll software and outsourced payroll services, Qtac caters to small businesses, large corporations, and payroll bureaux. Our software, recognised by HMRC, streamlines the payroll process, featuring RTI submissions, workplace pensions management, and a cloud-based portal for payslips and employee self-service. This software is supported by top-tier customer assistance, ensuring a smooth payroll experience.
Additionally, Qtac offers tailored ‘white-labelled’ outsourcing services. These services are particularly attractive to accountancy firms, as they save time, reduce stress, and mitigate payroll-related risks. By outsourcing to Qtac, companies can be confident in the knowledge that their payroll needs are being expertly managed.
Qtac's solutions are not just about functionality; they are about building long-lasting relationships with clients, offering them a combination of technology and expertise. Their commitment to adapting to client needs and providing reliable, efficient services has established Qtac as a trusted name in the payroll solutions sector in the UK. In essence, Qtac simplifies and enhances the payroll process for a diverse range of clients, ensuring compliance, efficiency, and customer satisfaction.
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