GL Categories

A GL Category functions to organize and categorize GL Accounts on a Chart of Accounts as part of Revenue Management by enabling grouping within each type. For example, asset type GL accounts can have asset type GL categories, but not revenue type GL categories. GL categories can also be structured into parent-child relationships in the same way as GL accounts.

Initially, when a GL category is created, it is added to the GL categories list, where you can manage the details and statuses of the GL categories. Once created and given an Active status, the GL category can be assigned to one or more charts of accounts, then assigned to a GL account within that chart of accounts. You can also edit or delete a GL category.

A chart of accounts (COA) is a collection of GL accounts that are structured and categorized. The GL category serves to categorize the GL accounts. The type of the GL category must match the type of the GL account it is categorizing. For example, when using multiple revenue type GL accounts you can create 2 revenue type GL categories, like service revenue and product revenue, to differentiate and group those revenue GL accounts. A GL category can be included in more than one COA. Parent-child relationships between GL categories are created within the COA.

Creating a GL Category

GL categories can be created from the GL category tab of the Revenue Management Setup page. Creating parent-child relationships between the GL categories and assigning GL categories to GL accounts must be done in the COA.

GTV recommends consulting with your Accounting Department and GTV Support before creating GL accounts, GL categories, and relationships within the COA.

GL categories are assigned to GL accounts when creating a COA. The type of the GL account and the type of the GL category assigned to it must be the same. For example, an asset GL category can only be assigned to an asset GL account.

If you want the GL categories to have parent-child relationships in the COA, create the parent and child categories with the same type. For example, a parent GL category with a revenue type can only have a child GL category with a revenue type.

To create a GL category:

  1. Select Revenue Management from the Gotransverse action menu
  2. Select Setup in the left pane.
  3. Select the GL Categories tab.
  4. From the Setup action menu, select Create GL Categories.

  5. In the Create GL Category window, complete the relevant fields:

    FieldDescription
    GL Category Name*Add a name for the category. The name must be unique.
    Status*Select one of the following statuses for your category:
    • Draft—The GL category cannot be assigned to a COA. Keep in Draft status if you need to make edits to the information before assigning to a COA.
    • Active—The GL category can be assigned to a COA, once created.
    Type*

    Select a type from the drop-down menu. The type of a GL category indicates which section of the accounting equation the GL category relates to when assigned to a GL account. For example, a GL category with a liability type can only categorize GL accounts with a liability type.

    Options include:

    • Asset
    • Liability
    • Equity
    • Revenue
    • Expense

    DescriptionAdd any additional information you may need to know regarding this specific GL category.
    (*)Indicates required field

  6. Select Create.

Editing a GL Category

You can edit a GL category in any status, however, the status determines which fields are available to be edited.

  1. Select Revenue Management from the Gotransverse action menu .
  2. Select Setup in the left pane.
  3. Select the GL Categories tab.
  4. Find the desired GL category to edit and do one of the following:
    • Click the ellipsis button under actions, then select Edit GL Category.

    • Select the desired GL category, then select Edit GL Category from the GL Category action menu.

  5. In the Edit GL Category window, you can edit any fields that are not greyed out. The status of the GL category determines which fields can be edited. For example, if the status is Active, you cannot change the type.

  6. Select Edit.

Deleting a GL Category

A GL category can be deleted. Once deleted, the GL category will be removed and cannot be recovered. Alternatively, if you want to stop using a GL category, but don’t want to delete it and want to prevent it from being used again, consider changing the status to Cancelled or Suspended by editing it. This will keep the GL category in the system, but prevent the GL category from being assigned to a COA.

A GL category must meet the following two conditions before the option to delete will be available in the user interface:

  • Be in Draft status. You can change the status by editing the GL Category.
  • Not be assigned to a COA.

To delete a GL category:

  1. Select Revenue Management from the Gotransverse action menu .
  2. Select Setup in the left pane.
  3. Select the GL Categories tab.
  4. Find the desired GL category to edit and do one of the following:
    • Click the ellipsis button under actions, then select Delete GL Category.

    • Select the desired GL category, then select Delete GL Category from the GL Category action menu.

  5. In the confirmation window, click Yes.

For information about how to use the GL Category API, refer to the Revenue Management API Guide.