Screenshot:General Ledger Configuration

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General Ledger Configuration

The general ledger configuration drives the way that the organization's financial transactions are going to be posted to the ledger.

General Ledger Configuration

The General Ledger Configuration window allows to review and maintain defaulted general ledger configurations and to create new ones if needed.

• Organization : Organizational entity within client
• Name : A non-unique identifier for a record/document often used as a search tool.
• Description : A space to write additional related information.
• Active : A flag indicating whether this record is available for use or de-activated.
• Accounting Standard : Accounting Standard
• Currency : An accepted medium of monetary exchange that may vary across countries.
• Element separator : Element Separator
• Allow negative : Allow negative entries in credit and debit
• Central Maintenance : A flag indicating that this label is managed in a central repository.
• Asset Debit Balances as Positive : Display assets as positive amounts
• Liability Credit Balances as Positive : Display liabilities as positive amounts.
• Owner's Equity Credit Balances as Positive : Display owner's equity as positive amounts.
• Revenues Credit Balances as Positive : Display revenues as positive amounts.
• Expense Debit Balances as Positive : Display expenses as positive amounts.
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• Client : Client for this installation.

Dimension

Dimension tab allows to configure the organization's general ledger dimensions or to add additional accounting dimensions do not centrally maintained in the client.

• Sequence Number : The order of records in a specified document.
• Name : A non-unique identifier for a record/document often used as a search tool.
• Type : A distinct item characteristic used for processes and sometimes grouped within a category.
• Trx Organization : Organizational entity within client
• Active : A flag indicating whether this record is available for use or de-activated.
• Account Tree : A unique identifier of the Account Tree.
• Balanced : Balanced
• Mandatory : An indication noting that completing in a field is required to proceed.
• Account Element : A identification code for an account type.
• Product : An item produced by a process.
• Business Partner : Anyone who takes part in daily business operations by acting as a customer, employee, etc.
• Location / Address : A specific place or residence.
• Sales Region : A defined section of the world where sales efforts will be focused.
• Project : Identifier of a project defined within the Project & Service Management module.
• Sales Campaign : An advertising effort aimed at increasing sales.
• Activity : A distinct activity defined and used in activity based management.
• Organization : Organizational entity within client
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• Dimensions : Holds the list of dimensions enabled by this ledger.
• Client : Client for this installation.

Active Tables

Active Tables tab allows to define which tables and therefore transactions are going to be post to the ledger and which ones not.

• Active : A flag indicating whether this record is available for use or de-activated.
• Table : A dictionary table used for this tab that points to the database table.
• Accounting Template : Accounting Template
• Disable for Background : Disables the selected table for accounting in background process
• SQL Description : Acct description
• Organization : Organizational entity within client
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• Client : Client for this installation.
• Active Table : Table to be used for posting transactions related to the named business process area or document.

Documents

Documents tab allows to define which document types of a table allow negative posting and if they use a different accounting process than the default one based on a given accounting template.

• Active : A flag indicating whether this record is available for use or de-activated.
• Document Category : A classification of document types that are shown and processed in the same window.
• Allow negative : Allow negative entries in credit and debit
• Accounting Template : Accounting Template
• Organization : Organizational entity within client
• Client : Client for this installation.
• C_AcctSchema_Table_DocType_ID
• Active Table : Table to be used for posting transactions related to the named business process area or document.

Process

It is possible to assign additional accounting process to be run after the standard one for a given general ledger configuration

• Sequence Number : The order of records in a specified document.
• Accounting Post_Process : Accounting process to be executed at posting time
• Active : A flag indicating whether this record is available for use or de-activated.
• Organization : Organizational entity within client
• Isdataset
• General Ledger Post_Process : Additional process to be executed at posting time.
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• Client : Client for this installation.

General Accounts

General accounts tab allows you to define the accounts to be used in balancing entries and in the end-year closing process.

• Suspense Balancing Use : Use Suspense Balancing
• Suspense Balancing : Suspense Balancing Account
• Retained Earning : Retained Earning Account
• Suspense Error Use : Use Suspense Error
• Suspense Error : Suspense Error Account
• Income Summary : Income Summary Account
• Currency Balancing Use : Use Currency Balancing
• Currency Balancing Acct. : Account used when a currency is out of balance
• CFS Order Account : Cash Flow Statement Order Account
• Active : A flag indicating whether this record is available for use or de-activated.
• Reverse Permanent Account Balances : Reverse Permanent Account Balances
• PPV Offset : Purchase Price Variance Offset Account
• Organization : Organizational entity within client
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• General Accounts : Accounts being used for general purposes such as income statement account, error and balance handling accounts.
• Due from Intercompany : Intercompany Due From / Receivables Account
• Client : Client for this installation.

Defaults

Defaults tab allows to maintain or to add a set of default accounts to use while posting a certain type of transactions.

• Customer Receivables No. : An account number in the general ledger to mark transactions with a business partner.
• Customer Prepayment : The Customer Prepayment account indicates the account to be used for recording prepayments from a customer.
• Write-off : Account for Receivables write-off
• Write-off Revenue : Account for Payables write-off
• Vendor Liability : An account number in the general ledger used to mark transactions with this business partner.
• Vendor Prepayment : An account number in the general ledger used to mark transactions with this business partner.
• Non-Invoiced Receipts : Account for not-invoiced Material Receipts
• Doubtful Debt Account : Account used to reclassify an account receivable once this has been recognized as a doubtful debt
• Bad Debt Expense Account : Account used to book the expense related to a bad debt
• Bad Debt Revenue Account : Account used to book the revenue related to a recover of a bad debt
• Allowance For Doubtful Debt Account : Account used to provision bad debts. This amount will reduce accounts receivable amount. in balance sheet.
• Product Asset : A tangible asset used for business without expectation of sale in the coming fiscal year.
• Product Expense : An account number in the general ledger to mark transactions with this item.
• Product Deferred Expense : Used when expense is deferred from a purchased product.
• Product Revenue : An account number in the general ledger to mark transactions with this product.
• Product Deferred Revenue : Used to defer revenue for a sold product
• Withholding Account : not part of task
• Product COGS : The cost of goods sold for a specified product.
• Invoice Price Variance : The Invoice Price Variance is used reflects the difference between the current Costs and the Invoice Price.
• Product Revenue Return : An account number in the general ledger to mark returns of this product.
• Product COGS Return : The cost of goods returned for a specified product.
• Warehouse Differences : Warehouse Differences Account
• Inventory Revaluation : Account for Inventory Revaluation
• Work In Progress : An account used in production projects until it becomes defined as a finished good.
• Bank Asset : Bank Asset Account
• Bank In Transit : Bank In Transit Account
• Bank Expense : Bank Expense Account
• Bank Revaluation Gain : Bank Revaluation Gain Account
• Bank Revaluation Loss : Bank Revaluation Loss Account
• Tax Due : Account for Tax you have to pay
• Tax Credit : Account for Tax you can reclaim
• Cash Book Asset : Cash Book Asset Account
• Cash Book Differences : Cash Book Differences Account
• Cash Transfer : Cash Transfer Clearing Account
• Payment Selection : AP Payment Selection Clearing Account
• Depreciation : Depreciation account
• Accumulated Depreciation : Accumulated Depreciation
• Copy Accounts : Copy and overwrite all accounts to system defaults (DANGEROUS!!!)
• Organization : Organizational entity within client
• Master Data Default Accounts : Default accounts defined for new master data creation. This accounts will be used as default accounts when new master data element is created. User will be able to modify them afterwards.
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• Disposal Loss : Disposal Loss
• Disposal Gain : Disposal Gain
• Creation Date : The date that this record is completed.
• Client : Client for this installation.
• Active : A flag indicating whether this record is available for use or de-activated.

Financial Account Defaults

Default ledger accounts for the financial accounts.

• Financial Account : Financial account used to deposit / withdrawal money such as bank accounts or petty cash
• Active : A flag indicating whether this record is available for use or de-activated.
• Bank Fee Account : Account used for posting Bank Fees
• Bank Revaluation Gain Account : Account used for posting currency revaluation gains
• Bank Revaluation Loss Account : Account used for posting currency revaluation losses
• Receive Payment Account : Receive Payment Account used by financial account
• Make Payment Account : Make Payment Account used by financial account
• Deposit Account : Deposit Account used by the financial account
• Withdrawal Account : Withdrawal Account used by the financial account
• Debit Account : Debit Account used by the financial account
• Credit Account : Credit Account used by the financial account
• Organization : Organizational entity within client
• General Ledger : The book containing all financial transactions recorded for the legal entity.
• Financial Account Accounts : Financial Account Accounts
• Client : Client for this installation.

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