Option 10Summarize Accounts

This function sums the account balances defined on the Summary Account Detail file into their corresponding Summary Accounts. Summary accounts may be used in financial statements, various reports and inquiries on the Account Balances file, and ratios. To update balances, run this function prior to printing any statements, reports, or ratios that reference summary accounts. The following processing steps accomplish this job.

1. Step 1This disposition type is used for all standard processing functions within General Ledger.
2. Step 2This step processes the information for Summary Accounts and Summary Account Detail. Updates to certain fields in the Account Balances and Summary accounts files will occur.