How to Add or Modify a New Account Set in Accounts Receivable for Sage 300

Before You Start

• Decide on the code for a new account set you want to add.
• Determine the general ledger account numbers to assign to a new account set you want to add.
  You need to know the numbers to use for these general ledger accounts:
  • Receivables control
  • Receipt discounts
  • Prepayment liability
  • Write offs
  • Retainage (if you use retainage accounting)
    If you use multicurrency accounting, you also need to know the currency code for each account set that does not use the functional currency, as well as the numbers for all the exchange gains and losses accounts, and an exchange rounding account.
• Make sure that an account set you plan to delete is not assigned to any customer records (including customer groups, national accounts, and customers).

To add a new account set:

1. Open Accounts Receivable > A/R Setup > Account Sets.
2. In the Account Set Code field, enter a unique code, using up to six characters, to identify the account set.
3. In the Description field, enter a description of the account set.
4. Enter the general ledger account numbers that make up the account set. If you use Sage 300 General Ledger with your Accounts Receivable database, a Finder
   appears beside each general ledger account field.
   Click the Finder or press F5 to display a list of general ledger account numbers. Highlight the account you want, then press Enter to insert it in a field.
   In a multicurrency account set that does not use the functional currency, you must also enter the currency code and account numbers for the exchange gain, exchange loss, and exchange rounding accounts.
   Important! You cannot change the currency code for an account set after you add the set.
5. Click Add.

To edit an account set:

1. Open Accounts Receivable > A/R Setup > Account Sets.
2. Select the account set you want to change.
3. Make your changes.
   Note: If you use multicurrency accounting, you cannot change the currency code assigned to an account set.
4. Click Save

To delete a terms code:

1. Open Accounts Receivable > A/R Setup > Account Sets.
2. Select the account set you want to delete.
   Note: You can delete an account set only if it is not assigned to customer records (including customer groups, national accounts, and customers).
3. Click Delete.

After adding or modifying an account set

• Print and file the Account Sets report. For more information, see “Printing the A/R Account Sets Report” (page 325).