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.
