Managing Memo Entities in arkGL

This guide walks you through how to add, upload, edit, and delete Memo Entities - custom tags used to enhance journal entry tracking and GL reporting within arkGL.

Jump to a Section

• What You’ll Learn

• Who Can Use This Feature

• Before You Begin

• Step-by-Step: Adding Memo Entities

• Step-by-Step: Editing or Deleting Memo Entities

• Best Practices

• FAQ

• Next Steps

What You’ll Learn

By the end of this guide, you’ll be able to:

• Add memo entities manually or in bulk

• Tag journal entries using banks, vendors, or other custom labels

• Edit or delete memo entities

• Use memo tags to improve filtering and GL reporting

Common use cases include:

• Tagging banks associated with cash receipts or bank feeds

• Identifying vendors for expense transactions

• Categorizing legal, audit, or other third-party service providers

Who Can Use This Feature

This feature is available to:

• Ark Client Admin users
• Basic Admin users with appropriate fund access

Note: arkGL is available only on the full version of the Ark platform. Contact sales@arkpes.com or your fund administrator if it’s not yet enabled.

Before You Begin

Make sure the following is in place before managing memo entities:

• A General Ledger is configured for the fund, view the Getting Started with arkGL: Creating and Deleting General Ledgers guide for more information.

• The fund’s Chart of Accounts (COA) is set up, view the Setting Up and Managing the Chart of Accounts (COA) guide for more information.

• You’ve identified entity categories you want to track (e.g., banks, vendors)

Memo Entities are available in the Memo Tag field when creating journal entries. If an account has “Entity Required?” set to "Y" in the COA, a memo tag must be selected before the journal entry can be saved.

Step-by-Step: Adding Memo Entities

You can add memo entities manually or via bulk upload.

Option 1: Add a Memo Entity Manually

1. Navigate to General Ledger > Entities via the side navigation menu

   • Or go to Funds, select a fund, and open the Memo Entities section

2. Click + Add New > New Entity

3. Enter the required Entity Name

4. (Optional) Fill in any of the following:

   • Email, Phone

   • Address details (Line 1, Line 2, City, State, ZIP, Country)

   • TIN (Taxpayer Identification Number)

   • 1099 Status (Y/N)

5. Click Save

Option 2: Upload Memo Entities in Bulk

1. Click + Add New > Download Template

2. Fill in the CSV:

   • Entity Name is required

   • Optional fields may be added as needed

3. Save as a CSV

4. Click + Add New > Upload From Template

5. Upload your file and check the Upload History

If any rows contain errors, the upload will fail. Download the error file in Upload History to resolve issues before re-uploading.

Step-by-Step: Editing or Deleting Memo Entities

To Edit a Memo Entity

1. Locate the entity on the Memo Entities page

2. Click the View icon

3. Make any necessary changes

4. Click Save & Close

Some fields may be restricted from editing if the memo entity is actively used.

To Delete a Memo Entity

1. Locate the entity

2. Click the Delete icon

Memo entities cannot be deleted if they are used in posted journal entries.

Best Practices

• Tag strategically: Memo entities help organize large volumes of journal entries - plan categories like “Legal,” “Banking,” and “Audit” in advance

• Use bulk upload for onboarding: Especially useful when migrating from external systems or spreadsheets

• Leverage in reports: Memo tags are filterable in GL Reports and enhance traceability across funds

FAQ

Q: Where do Memo Entities show up?
They appear in the Memo Tag field in journal entry lines and are filterable in GL Reports.

Next Steps

Once memo entities are configured:

• Begin tagging journal entries for better tracking and categorization, view more information on journal entries in this guide.

• Explore GL Reports to view activity by tag, view more information on GL Reports in this GL Reports Overview  guide.

• Review how to set up accounts in the COA with “Entity Required?” enabled

Need help? Reach out to support@arkpes.com