Article ID: 8238

Chart of Common G/L Control and Reserved Accounts

Related Topic:

G/L Control Accounts

Default G/L Control Accounts

The following table lists the default G/L control accounts in PCLaw:

Account Name

Nickname (number)

Associated sub-ledger

Accounting Method

General Bank Acct (1 to 99) All

1000 to 1098

General Bank Journal

All

Trust Bank Acct (1 to 99)

1100 to 1198

Trust Bank Journal

All

Accounts Receivable

1200

Billing (Fees) Journal

Accrual

Provision for Bad Debs

1201

Write Up/Down Journal

Accrual

Client Disb Recovery

1210

Client Costs Journal

Accrual/Modified Cash

General Liabilities

2000

Purchases Journal

Accrual

Purchases Journal

2100

none

All

GST/HST Payable

2400

GST/HST Journal

All

Sales Tax Payable

2450

Sales Tax Journal

All

Accounts Payable Disc

4997

Purchases Journal

Accrual

Client Disb Expense

5010

Client Costs Journal

Cash

Client Soft Costs

5010

Client Costs Journal

Modified Cash

Client Soft Costs

5011

Client Costs Journal

Cash


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Default G/L Reserved Accounts

Reserved accounts do not have a direct sub-ledger. Reserved accounts track Fees, Equity, and Year End adjusting entries among other items.

The following table lists the default G/L reserved accounts in PCLaw:

Account Name

Nickname (number)

Accounting Method

Business Type

Equity

3000

All

Partnership

Capital

3000

All

Corporation

Equity.{lawyer's initials}

3000.abc

All

Partnership

Income for Alloc

3500

All

Partnership

Ret Earnings

3500

All

Corporation

Drawings

3501

All

All

Drawings.{lawyer's initials}

3501.abc

All

Partnership

Fees

4000

All

All

Mark Up Income

400.abc

All

All

Interest

4999

All

All

Suspense

9999

All

All


NOTE:

Although Fee accounts are reserved accounts and are not directly tied to a sub-ledger, you can still reconcile them to the Billing (Fees) Journal in Accrual Accounting and to the Payment Allocation Listing in Cash and Modified Cash Accounting if you do not manually post any entries to the Fee accounts. You cannot reconcile the Fee accounts when you manually allocate an entry or G/L adjustment to them.

 

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