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General Ledger Documentation

Ledger - Year End
Ledger - Currency Adjustments
Ledger - Journals
Ledger - Accounts
Ledger - Account Reconciliations

Ledger - Year End

The Ledger Year End procedure describes the steps required to close all operating statement accounts to retained earnings at the end of a financial year. Refer to LedgerYearEnd (118.2 KB).  The procedure details the automated creation of the closing entries for the general ledger that are required after the accounts have been finalised, and audited if required, for the financial year. When concluded, operating statement accounts will have their balances zeroed (typically financial and budget values), with those balances transferred to retained earnings accounts. Additionally, the posting of transactions dated within the closed year is prohibited.

Ledger - Currency Adjustments

The Currency Adjustments procedure describes the steps required to amend account balances in regard to exchange rate fluctuations. Refer to LedgerCurrencyAdjustments (91.6 KB).  The procedure enables a review of the adjustments required to previously posted transactions for a specified currency, and provides for the amendment of account balances with those adjustments if required.

Ledger - Journals

The Ledger Journals procedure describes the steps required to amend account balances, of any account type, e.g. General Ledger, Debtor (or Receivable) Ledger, with journal entries. Refer to LedgerJournals (117.8 KB).  Journals provide the ability to transfer values, in local or foreign currency, between posting accounts. The processing of a journal results in the creation of transactions that are posted to the accounts specified. Standing or recurring journals may be established that are processed multiple times at regular time intervals, e.g. weekly or monthly. Each time a standing journal is processed, a ‘regular’ journal that mirrors the current content of the standing journal is generated and posted. Both ‘regular’ and standing journals may be established such that when processed, the transactions are automatically accompanied by reversing transactions.

Ledger - Accounts

The Ledger Accounts procedure describes the steps required to open and amend general ledger accounts. Refer to LedgerAccounts (91.6 KB).  Ledger accounts provide the analytical structure for the recording of all the revenues, expenses, assets and liabilities arising from company operations. They contain all the balances and transactions that are used for financial control and reporting purposes. The procedure enables the account attributes, including the additional specific attributes applicable to bank accounts, to be established.

Ledger - Account Reconciliations

The Account Reconciliations procedure describes the steps required to reconcile, or match, transactions on an account. Refer to LedgerAccountReconciliations (96.8 KB).  The procedure enables the marking, as non-current, of a selection of transactions whose total value is zero. It may be applied to general ledger accounts, creditor accounts, i.e. payable or supplier accounts, debtor accounts, i.e. receivable or customer accounts, or vehicle accounts.


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