General Ledger
QAD Financials uses standard, industry-recognized components to implement your chart of accounts (COA). The strength of the application is in its flexibility—you can configure the model to generate many different types of accounting information.
GL Account
GL accounts track financial transactions, manage account balances, and are used to produce financial statements and comparisons. GL reporting is detailed or summarized and includes information on one or a range of entities. Banks are defined as a special type of GL account with additional banking attributes.
Sub-Account
As a further level of detail within an account, sub-accounts can be defined. Sub-accounts can be linked to customers and suppliers and their individual transactions.
Cost Center
You can refine account and sub-account information further by defining cost centers. For example, a cost center can be a profit center or department within the account or sub-account.
Project
The project provides analysis on costs and revenue for the projects defined in your organization.
The combinations of COA elements that are considered valid are defined through a COA mask. These combinations are validated when transactions are posted, preventing any errors. Every COA element type has a separate COA mask maintenance function:
• Sub-Account Mask Create (25.3.9.1.1)
You specify a sub-account COA mask code and list the ranges of GL accounts with which sub-accounts assigned that COA mask can be combined.
• Cost Center Mask Create (25.3.9.2.1)
You specify a cost center COA mask code and list the ranges of GL accounts and sub-accounts with which cost centers assigned that COA mask can be combined.
• Project Mask Create (25.3.9.3.1)
You specify a project COA mask code and list the ranges of GL accounts, sub-accounts, and cost centers with which projects assigned that COA mask can be combined.
For more information on COA masks, see
COA Masks.