General ledger
The General ledger (GL) is a complete record of all financial transactions in a company. The general ledger holds account information that is needed to prepare financial statements, and it includes accounts for assets, liabilities, owners' equity, revenues and expenses.
All transactions are posted to the general ledger, either manually, or automatically by the system.
Output from the general ledger
An accurate financial statement.
Consistency between the general ledger postings and the "real world".
Traceability and documentation of the postings.
An advanced interface between the transactions and the ledgers, will provide you with tools for reconciliation and quality assurance, which makes it possible to do a traceable and high-quality year-end closing on a month by month basis.
Tasks involved in this process
Make posting adjustments.
Make period adjustments.
Reconcile ledger accounts, VAT and the bank accounts.
Close the fiscal period.
Agio calculation.
Inspect balance sheet values.
Deviation handling.