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.