Ledger Features and Functions

• Multi-entity financial reporting


• Twelve or thirteen fiscal months


• Fiscal quarterly periods can be defined as 4-4-5, 5-4-4, or 4-5-4


• Companies with different regional presences may set a default currency for the financial division of each region


• Distinguishes A/P transactions (of the same type) from different entities


• Tracks items in the G/L and sub-ledger by quantity and value (in whichever currency is used)


• Maintains unit and dollar amount postings in GL and sub-ledgers


• Sub-ledgers closed out prior to performing a purge. The closeout process sets all financial account balances in the sub-ledger to zero by posting an equal and offsetting transaction


• Flexible general ledger key with multiple levels


• Automatically inserts actual account balances into the elapsed month's bucket in a future forecast file at the end of each accounting period when the system rolls into the next period


• Uses the budget forecast information to create automatic postings; accruals for any potential overhead item, for example, bonus, depreciation, professional fees, new product development, and marketing expense; supports standard (automatically repeating) postings and entries that are generated each month with reference to amounts maintained in budget fields for the month. The amounts may or may not be the same from month to month


• Automatic year-end rolling of balances in sub-ledgers and general ledger control accounts


• Automatic linking and posting of control accounts from related sub-ledger accounts