About Setting Up General Ledger

After installation, you take the following general steps to set up General Ledger.

Step One: Activate General Ledger for Your Database

This step adds the database tables required by the General Ledger application. Click the Data Activation icon in the Administrative Services folder to start the activation.

Activation requires the following information:

• The current fiscal year.
• The starting date of the oldest fiscal year for which you want to keep data.

Step Two: Select Configuration and Processing Options

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

Use the following screens in the G/L Setup folder 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 and Source Journal Profiles screens 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 remaining icons to set up recurring entries, revaluation codes, and optional fields.

Step Three: Add Accounts

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

Step Four: Add Historical Data

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