Master Records > Equity Transaction Codes > Set Up Equity Transaction Code Record

The Equity Transaction Codes Maintenance function allows you to set up, maintain and delete equity transaction code records, which are used to represent the different activities that cause a change in the equity account balances during the fiscal period or fiscal year.

You can assign an equity transaction code to a major segment value . This information will be used by AccountMate with the equity component assigned to the same major segment value to generate the Statement of Changes in Equity report.

To create an equity transaction code record, perform the steps below:

1.Access the Equity Transaction Code Maintenance function from the Accounts group under the Maintenance menu of the General Ledger module. AccountMate Enterprise displays the equity transaction codes set up for the company in the grid.

Note: AccountMate comes with a predefined equity transaction code, specifically, "PROFTIT" (for IFRS companies) and "NETINC" (for non-IFRS companies).

2.Click the Append row to end or Insert row before current button to activate a line in the grid.

3.In the Code field, enter the code by which you want the equity transaction record to be identified. You can enter alphanumeric characters in this field.

5.Enter in the Type field the type of transaction that you want to assign to the equity transaction code that you are creating. Alternatively, you can click the List box button in the Type field to select the desired transaction type.

Note: If the equity transaction code will be used for transactions involving other comprehensive income, enter or select the "OCI" option; on the other hand, if the equity transaction code will be used for transactions involving contributions by and distributions to owners, enter or select the "CDO" option.

6.In the Description field, enter a narrative description to help you identify the equity transaction code record. You can enter a value of up to 100 alphanumeric characters.

7.Accept the default "Active" value in the Status field. If you want to set the status to "Inactive," click the Status field; then, unmark the checkbox.

8.Click the Save button in the Maintenance toolbar to save your entries; otherwise, click the Cancel button.

Set Up Equity Transaction Code Record

Set Up Equity Transaction Code Record

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