Account Groups: To Create an Off-Balance Group

In this implementation activity, you will learn how to create an account group to be used for collecting statistical information.

Attention: This activity is based on the U100 dataset. If you are using another dataset, or if any system settings have been changed in U100, these changes can affect the workflow of the activity and the results of the processing. To avoid any issues, restore the U100 dataset to its initial state.

Story

Suppose that you are a construction project manager who is configuring project accounting for the ToadGreen Building Group company. You want to know the total amount associated with the number of work hours spent by employees on construction projects (including an extra work beyond the budgeted number of work hours), but you do not want to post these amounts to the general ledger because these expenses are billed monthly under separate project budget lines related to labor.

You need to create an off-balance account group for tracking burden expenses in construction projects.

System Preparation

To prepare to perform the instructions of the activity, launch the MYOB Acumatica website, and sign in to a company with the U100 dataset preloaded; you should sign in as a construction project manager by using the ewatson username and the 123 password.

Step: Creating an Account Group

To create an account group for tracking burden expenses, do the following:

  1. On the Account Groups (PM201000) form, add a new record.
  2. In the Account Group ID box, type BURDEN.

    Notice that the Active check box is selected by default.

  3. In the Type box, select Off-Balance.
  4. In the Description box, type Burden Expenses.
  5. Save the account group.