General Ledger
Use Costpoint General Ledger to configure your charging structure, financial statement and report formats, journal entries, and data entry controls for the Accounting domain.
Charging Structure
You can define your own account numbers, segments, and organizational structures, and hierarchies. In addition, you can use organization abbreviations to establish as complex a structure as you need, yet at the same time streamline your data entry through the use of simple abbreviations.
General Ledger contains numerous features that give you control of your accounting system. You determine which organizations can charge to specific accounts and when those accounts and organizations "expire." You establish how many accounting periods can remain open simultaneously. You determine a data-entry cutoff by setting certain accounting periods, or certain modules within a single accounting period, to a Not Available status.
Reference Numbers
Costpoint also provides two user-definable "reference numbers." You can use these reference numbers for virtually any type of matrix reporting structure or to capture additional transaction data for use in Costpoint or in other systems.
Multiple Report Formats
In General Ledger, you can maintain multiple user-defined financial statement formats for balance sheets, income statements, and statements of cash flows. Other summary or detailed reports are available by organization, alternate reporting structures, reference numbers, or financial statement line. These reports include the Trial Balance, Project and General Ledger Detail, and G/L Posting Summary. Some reports are also available by "reorganization," a user-defined alternate organization structure. Use project reports to see general ledger information consolidated at the project level. Use trend reports to print any financial report for any level of your organization, for comparison of time period actual versus budgeted costs, using budget information established in the budget screens. These reports offer numerous ways to print your financial information.
Recurring Journal Entries
You can set up journal entries with specific recurring or reversing information for each entry. Use the recurring or reversing capability to establish a cycle for each recurring entry (for example, monthly, quarterly, and so on) or to specify the future period in which a reversing entry should be made. This eliminates repeated manual entries and thus streamlines processing of regularly occurring entries.
If your firm's accounting operations policies include segregation of duties, perhaps to comply with the Sarbanes-Oxley Act of 2002, or if your firm has otherwise decided to require that journal entries be approved, you can set up an internal process for approval of journal entries.
- Related Topics:
- General Ledger Task Flow
The General Ledger Task Flow diagram describes the overall process involved in the General Ledger module. - Company Calendar
Use the screens in the Company Calendar application group to configure your company's fiscal years, accounting periods, and subperiods. - Organizations
Use the screens in the Organizations application group to configure organizational information such as structure and elements. - Accounts
Use the screens in the Accounts application group to create and manage your general ledger accounts. - Reorganizations
Use the screens in the Reorganizations application group to configure an alternate organization that you can use to generate accounting reports. - Reference Numbers
Use the screens in the Reference Numbers application group to configure reference elements and numbers, and link them to accounts or organizations to help you identify or track your transactions. - Journal Entry Processing
Use the screens in the Journal Entry Processing application group to manage the accounting transactions in your ledger. - Multi-Company Processing
Use the screens in the Multi-Company Processing application group to manage Intercompany Receivable journal entries. - Sales and Value Added Tax Processing
Use the screens in the Sales and Value Added Tax processing application group to manage sales and tax reports. - General Ledger Beginning Balances
Use the screens in the General Ledger Beginning Balances application group to configure manage your opening balances at the beginning of a financial period. - General Ledger Budgets
Use the screens in the General Ledger Budgets application group to manage your revenue and expense accounts in your general ledger. - Financial Statement Configuration
Use the screens in the Financial Statement Configuration application group to set up and manage written records of your financial activities. - General Ledger Reports/Inquiries
Use the screens in the General Ledger Reports/Inquiries application group to configure your report formats, and to track and monitor your charging structure, financial statements, account activities, and other journal entries. - General Ledger Utilities
Use the screens in the General Ledger Utilities application group to defer unposted transactions, print reports, purge intercompany receivables and journal entry history, and update Financial Statement Summary and Reference Summary balances. - General Ledger Interfaces
Use the screens in the General Ledger Interfaces application group to import journal entries or budget data into Costpoint. - General Ledger Controls
Use the screens in the General Ledger Controls application group to configure your general ledger settings and company information. - Related Topics
Use this section to view special topics related to General Ledger.