General Ledger Concepts
This chapter describes Maconomy’s General Ledger (G/L) module.
You use the G/L module to create and maintain a number of essential facilities in Maconomy, including the twelve-dimensional chart of accounts and multiple companies in the same system. You also use the G/L module to enter general journals, posting, and tax reporting, and for calculating year-end results. You can print various G/L records, including account ledgers, balance sheets, and posting journals. Maconomy processes all of the transactions in the G/L module in the currency that you specified as the enterprise currency in the System Information workspace.
You can build up Maconomy’s chart of accounts with up to twelve dimensions, out of which three are specific to each company in the multi-company model. This ensures flexibility in the chart of accounts and flexible and detailed reporting options. It is up to your company to decide whether to use all or just some of the twelve dimensions.
Maconomy’s multi-company model supports the decentralization of the work processes of a company. You can create departments or subsidiaries in an organization as independent companies, and Maconomy performs intercompany balances automatically. The multi-company model is fully integrated with Maconomy’s access control system.
- Related Topics:
- Multiple Currencies
A general journal line can contain amounts in different currencies. - Advanced Costing
The Advanced Costing feature includes numerous improvements to the usability and flexibility of employee compensation setup as well as calculating gross pay data for salary systems based on this setup. - Pay and Pay Periods
This section provides information regarding various features related to pay and pay periods. - Financial Budgeting
This section details the elements used in Financial Budgeting, such as templates and budget lines, as well as key processes. - EU Statistics
This module lets you extract the EU trade figures, which are to be reported to tax authorities when your annual trade within the union reaches the EU thresholds. - Unrealized Exchange Rate Variances
This feature allows you to manage unrealized exchange rate gains or losses regularly throughout a job for better visualization of growing gains or losses due to exchange rate fluctuations. - Bankruptcy Management
Bankruptcy Management allows you to handle the bankruptcy accounting for one or more companies. - Company Specific Exchange Rate for General Ledger
- Company Specific Exchange Rate for General Ledger - Reporting