General ledger codes:
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The general ledger coding, that is, the internal structure of the general ledger, is defined by your organisation. Each organisation can be different, but the following standards are suggested:
First digit of G/L Code | Classification |
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0 | Income |
1, 2 and 3 | Expenses |
4 | Clearing accounts |
5 and 6 | Assets |
8 | Liabilities |
9 | Ownership, donations and other funds |
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You can also customise how the budget columns appear for different general ledger codes using the luGeneralLedgerClassification lookup table. See luGeneralLedgerClassification lookup table in the Finance manual.