General Ledger

In order to begin using the General Ledger you will need to complete the following:

• Define your general ledger code structure and statement levels.

• Enter the possible values for each ledger segment excluding the account code segment (eg. company, branch, division, cost centre codes and names ).

• Build your hierarchy of account Sections, subsections, subsubsections...

• Enter your chart of account items.

• Enter your opening balances.

For more details on ledger codes and their segments refer to the chapter on General Ledger.

You can construct all of the ledger records that you wish to use prior to journal entry or you may (by use of Manager privileges) have the system generate the ledgers as you enter them to your journals. Note that while the system can generate ledgers in this mode all segments of the ledger code must have been defined (eg. you cannot auto generate a ledger for a branch you have not yet defined).

Opening balances can be generated by setting the current general ledger period to the last month of the last financial year. Make your journal entries for the opening balances and process them. then Roll over the files to the new (current) financial year. This will transfer the balances of the ledgers to the opening balance.