Setting Up GL Tags
Objective
The objective of this SOP is to guide you through the process of setting up GL tags in order to create one tag or profile for GL account postings and apply it to multiple model numbers in bulk.
Key Steps
Access the general ledger settings in the system.
Scroll down to the "tags" section and click on it.
Create a new tag by entering a name (e.g., testing).
Associate accounts (revenue, cost of merchandise, inventory) with the tag by location.
Navigate to the inventory section and go to model inventory.
Edit individual items and assign the general ledger tag to each model number.
Use advanced filters to select items based on specific criteria (e.g., scratch and dent).
Perform bulk edit by selecting items and adding or moving a general ledger tag.
Apply the tag to set the revenue, cost of merchandise, and inventory accounts for selected items.
Cautionary Notes
Ensure accuracy when assigning general ledger tags to model numbers to prevent errors in account postings.
Double-check the accounts associated with each tag to avoid financial discrepancies.
Be cautious when performing bulk edits to prevent unintended changes to account settings.
Tips for Efficiency
Utilize advanced filters to quickly identify and select items for bulk editing.
Regularly review and update general ledger tags to maintain accurate financial records.
Communicate with accounting implementation specialists to optimize the use of GL tags for your specific needs.