About Setting Up General Ledger

Take the following general steps to set up General Ledger.

Note: Make sure you enter the starting date for the first period in your fiscal year. For example, if your year starts in April, specify April 1 of the first year that you want data. General Ledger creates a calendar for the year before the oldest year you specify, so you can post the opening entries for the oldest fiscal year.

Step One: Select Configuration and Processing Options

Decide on the options you need, including whether to use the sample chart of accounts,, whether to use account groups, how many account segments to use, what account segments to use, whether to print batches before posting, and whether to allow posting to previous years.

Use the following setup screens to select options and configure General Ledger:

• First, use the G/L Options screen to select basic processing options and define all the segments used in your General Ledger account numbers.

• Next, use the Segment Codes screen and then the Account Structure screens to define a structure for your chart of accounts.

  Note: After adding segment codes and account structure codes, open the G/L Options screen to specify the default structure code on the Segments tab.

• Use the Source Codes screen to define source codes and reports for sorting and printing the details of posted transactions.
• Use the Account Groups screen to assign accounts to groups.
• Use the Optional Fields screen to set up optional fields.
• Use the Recurring Entries screen to set up recurring entries.

Note: After making changes to program options (on Options screens) or optional fields (on Optional Fields screens), you and all other users must sign out and sign in again to apply the changes.

Step Two: Add Accounts

Add general ledger accounts using the G/L Accounts screen.

Step Three: Add Historical Data

In General Ledger, you must enter at least the year-to-date balances in each of your ledger accounts.

Last published: 4/8/2016