Modify Account Groups

Use this activity to enter and modify information on account groups used within the company. This mandatory task is to be performed by a system administrator or equivalent person.

Account groups are used for sorting purposes and for term selection in reports. You can also print subtotals per account group in reports. When a company is created, a number of default account groups are created which can be modified in the Account Groups page. An account group cannot be edited or deleted if it is in use. 

When performing this activity, enable Default Currency Balance if the Currency Balance functionality is used, and a new account created from this account group should by default get the Currency Balance enabled. Also, user can enter a default group account if Group Consolidation is used and a master company has been defined in Accounting Rules section in Company.