Configure General Ledger Settings
Use this screen to control overall settings affecting the General Ledger and various data entry preferences throughout the system. These settings are company-wide. Some settings become permanent once you establish them and enter data in other screens that use these settings. You should have a comprehensive plan for your overall Costpoint system setup that includes account, organization, and reference number structure before you enter information in this screen.
Before you establish settings here, be sure that you know the intended segment length parameters for General Ledger accounts. You set up the company's account structure on the Corporate G/L Settings subtask of this screen. You must also set up accounts and financial statement lines for the current year profit/loss before you complete all fields of this screen. You set up the company's accounts on the Manage Accounts screen and its financial statements on the Manage Financial Statement Mappings screen. You must set up most of this screen, create the aforementioned accounts and financial statement lines, then return here to enter that information and complete this screen.
If your firm requires segregation of duties in its accounting operations, to comply with the Sarbanes-Oxley Act or other company policies, you can separate users who create journal entries from those who approve journal entries. To set up this separation of duties, use the Update Entry Info when editing a JE check box and the Approval Settings subtask of this screen.
- Related Topics:
- Display the Configure General Ledger Settings Screen
You access the Configure General Ledger Settings screen from the Accounting domain. - Contents of the Configure General Ledger Settings Screen
Use the fields and options to configure the Configure General Ledger Settings screen. - Table Information for the Configure General Ledger Settings Screen
Changes to this screen update the following tables: - FAQs for the Configure General Ledger Settings Screen
This sections contains FAQs when configuring general ledger settings. - Subtasks of the Configure General Ledger Settings Screen
The Configure General Ledger Settings screen has the Corporate G/L Settings and Approval Settings subtasks.