The general ledger (GL) account tree can replicate the GL account structure of an enterprise.
Agents can use different GL account types to form a GL account tree:
- Parent only – use for aggregation, and to create the required structure. Do not assign this account type to payment instruments, fee beneficiaries, or interest calculation accounts. Other GL account types can also act as parent accounts.
- Regular – use for standard accounting/reporting purposes, and assign to a consumer SVA.
- Expense/Income – use when the GL account reflects both an internal GL account and a revenue or expense account that is settled via an account management system—that is, a fee account. This account type has a bank account attached to it, and is used for settlement transactions.
The Administration Portal is a flexible way of creating a GL account structure. You can add nodes at any level, except the root, and the tree can have any number of levels. You can delete a node only if it is unassigned, but you can deactivate a node anytime.
