General Ledger Overview

The General Ledger features allow your firm to record financial transactions from the other modules or subsidiaries into a central financial repository. The financial data can be used for analysis or reporting requirements (e.g., Income Statement). General Ledger is fully integrated with the projects, financials, and billing systems.

Features

The general ledger documents allow you to:

• Define general ledger control elements such as currencies, calendars, taxes, companies, accounts, and intercompany pairs. See Define General Ledger Controls.
• Enter detail charges directly to the general ledger. See Enter General Ledger Transactions.
• Match bank-cleared payments and deposits to your bank accounts. See Reconcile Bank Accounts.
• Generate and analyze currency differences. See Generate Currency Gain/Loss.
• Allocate overhead to projects to determine total project profitability. See Allocate Overhead.
• Generate and post project revenue to the general ledger. See Post Revenue Journal Entry.
• Prepare a value added tax return. See Create a Value Added Tax (VAT) Return.
• Prepare for and process the year-end financial activity. See Process End of Year.
• Use inquiry and reporting tools to monitor the ledger values and their implications for the firm. See Monitor General Ledger.

General Ledger Flowchart

The flowchart provides an overview of the basic General Ledger processes.