The General Ledger (GL) is the primary accounting record for a business. It tracks all financial transactions and is used to generate the company’s financial statements, including the Income Statement and Balance Sheet. The GL summarizes the organization’s various financial accounts and transactions, such as accounts receivable, accounts payable, fixed assets, and inventory.
General Ledger Software
How General Ledger Software Can Work for You
General Ledger maintains the charts of accounts and controls financial periods, ledgers, allocations, assets and liabilities, and more. Acumatica’s GL management system is integrated with other modules, giving you instant access to timely, accurate financial data.
Bring your financial information together in Acumatica’s General Ledger (GL) module. Fully integrated with the rest of the Acumatica suite, the GL system gives instant access to mission-critical financial data with comprehensive and flexible reporting and analysis of ledger accounts, income, expenses, and assets.
Key Benefits of General Ledger Software for your Company
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Control Your GL Account and Sub-Account Structure
Define the structure of your GL system accounts and sub-accounts. Organize your reporting and analysis configuration by defining segments, segment lengths, and segment values.
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Enhance Reporting
Create different views of your data, or dimensions, using Acumatica subaccounts. With Acumatica subaccounts, nearly unlimited reporting dimensions are available to slice financial reports by product, department, or any user-defined segment. Consolidated and summarized data can be displayed in the monthly, yearly, and quarterly views.
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Protect Your Data
Control roles and access permissions by account and sub-accounts to protect sensitive data and improve accuracy. Limit “on-the-fly” sub-account entry to specific sub-accounts based on pre-defined combinations of segment values.
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Streamline GL Consolidation
Combine data from multiple entities for consolidated reporting and analysis, different currencies or different account structures notwithstanding. Adjustments for minority interests, inter-company transfers, and other transactions are preserved to avoid duplication.
Important Features of General Ledger ERP Software
Advanced Financial Reporting
Design financial statements using sub-account segment structure and configured hierarchy. Publish reports on the web or distribute as Excel or PDF files.
Flexible Configuration of Financial Periods
Define monthly, bi-monthly, annual, or custom financial periods. Keep periods open as long as you need to complete data entry and reconciliation. You can override automatic assignment of the reporting period based on the transaction date – the GL system warns of potential mis-entry.
Multiple Currencies Support
Enter GL transactions in different currencies with multiple currency support activated. Maintain balances in the base currency and the foreign currency. See Currency Management for more information.
GL Accounts Budgeting and Budget Approval
Maintain an unlimited number of budget scenarios, such as optimistic, pessimistic, or expected. Grant access rights for team members to provide input without viewing salaries or information from other subsidiaries. Approved budgets can be used in comparative statements and analysis reports.
On-The-Fly Sub-Account Entry
Add new combinations of valid subaccount segments on the fly during data entry. This feature allows efficient ongoing maintenance of a complex reporting structure.
Automatic Allocation of GL Balances
Distribute GL account balances over multiple accounts and sub-accounts based on predefined allocation rules based on percentages, quantities, or statistical data, or proportional to other account balances. Create and run multiple subsequent allocation templates.
Drill Down to Original Documents
Gain immediate access to GL balances with a complete array of inquiry screens and reports. Drill down to the originating document from any inquiry screen or report, even if the transaction was created in another module.
Reversing and Auto-Reversing Entries
Reverse GL system transactions with one click. Automatically generate reversing entries in the next financial period during the post procedure or when the financial period closes.
Recurring Transactions
Create recurring income and expense transactions based on specific schedules and time periods. Design templates with expiration dates, execution limits, and custom execution schedules.
Audit Trails
Maintain a complete audit trail of all journal transactions throughout your GL management. Entries cannot be deleted. Corrections require adjusting entries. The system tracks the ID of the user who entered the transaction. Notes and supporting electronic documents can be attached directly to transactions.
Split Transactions
Split transaction amounts to transfer portions to other accounts, subaccounts, or branches.