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General Ledger Codes: Overview

Morgan Wynnes Updated by Morgan Wynnes

General ledger codes are codes that you can assign to debit or discount entries to make accounting easier and more functional.

When creating a general ledger code, you can assign a code (typically a number) and a description of the code. For example, charges for Internet Service may all be coded '4000' with a description of 'Monthly Internet Usage.'

You can then associate this general ledger code with all of your Internet services by editing the service under Settings > Billing > Services and applying the general ledger code.

Once a service has a general ledger code, any transactions moving forward will be tagged with the code and description. This code can then be used as a filter or pivot in all financial reporting.

Any changes made to general ledger codes only apply moving forward.

Once a transaction has been generated, it will always maintain the general ledger code and description that existed at the time of the transaction, regardless of the code associated with the service currently.

Examples

Below is a sample set of some basic general ledger codes that some companies tend to utilize:

General Ledger Code

General Ledger Description

1000

Residential Data Services

1100

Residential Non-Data Services

1250

Residential Installation Fees

1500

Residential Equipment Sales & Rental

1750

Residential Service Calls

2000

Commercial Data Services

2100

Commercial Non-Data Services

2250

Commercial Installation Fees

2500

Commercial Equipment Sales & Rental

2750

Commercial Service Calls

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