Setting up GL Account Groups

The GL is grouped into accounts with different functions such as Sales, Asset and Liability accounts and Overheads. When setting your GL you need to name and define the groups you require.

To set up a GL account group, select Setup GL Account Groups from the MYOB EXO Business Setup menu: Setup > Business Admin Settings > Account Groups. The GL Account Groups window is displayed.

To add a new group:

1. Click the New button.

   

2. The Group no is automatically assigned and this will be the next sequential number in the list.

3. Enter a brief, descriptive Group name.

4. Select the Report code.

5. Choose the Section type. If "Balance Sheet" is selected, select the type: Asset, Liability or Equity.

6. Choose the Debit/Credit type.

7. If the new group is to be reconcilable, tick the Reconcilable during bank reconciliation check box.

8. Configure the range of expected account numbers by entering them into the From and To fields.

9. Click Save to save this entry.