The setup of the general ledger is at the core of financial processes because it defines how you post data according to the company policy.
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Step-by-step guide
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1, Use search function to find General Ledger Setup
2, Setup basic information in . Configuration for the key field in General Ledger Setup
I. General Tab
(1) Allow Positing From / To
(2) Local Currency Code LCY Code - enter the currency code for the company company.
(3) Bank Account Nos. - assign the number series it will use for Bank Account Card
Click "Show more" to review if any other configuration you want to configure for finance process.
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User can select the option for "Show Amounts" for showing the Amount Columns according to the company's preference.
Show Amounts - Configuration for how user use the amount column in Journal.
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II. Dimensions Tab
Setup Global Dimension - Select Actions => Functions => Change Global Dimensions action to assign the Global Dimension
Global Dimensions are available as fields on master record, entries in journals and documents as well used as filters, for example, on reports, batch jobs etc.
Only two global dimensions can be use, so choose dimensions that will use often
Select 1)Select Short Cut Dimension (if any)
Shortcut Dimensions are available as fields on journal. You can create up to six of these.
(Reference: Dimension)
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2)Dimension Mapping
Map the dimension that will be used in Sales/Purchase Line or Journal, as users can directly select the dimension value in the Sales/Purchase Line or Journal Lines if they have been mapped.
The setup has been done according to System Setup process. User can review the Dimension in the page.
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Important: Changing a global or shortcut dimension requires that all entries posted with the dimension are updated.
To change a global dimension, use the "Change Global Dimensions" function, but it can be time-consuming and may affect performance and tables may be locked during the update.
Therefore, choose your global and shortcut dimensions carefully so that you do not have to change them later.
III. Reporting Tab
System defaulted the account schedule "Financial Report" for the standard finance report such as Balance Sheet, Income Statement etc.
Please follow the steps below for generate account schedule for your own chart of account.
- Use search function to find G/L account categories
- Select Process => Generate Account Scheudle
Please note, the system default account schedules are based on the G/L account categories and subcategories. All G/L account must have a correct category and subcategories before generating the account schedule.
(Reference: Account Schedule, Chart of Account*)
3. Select following setup page in Action menu for complete the General Ledger Setup.
IV. Posting - General Posting Setup (Gen. Business Posting Group / Gen. Product Posting Group)
