About Designing Your General Ledger
About Setting Up General Ledger
Before you set up your general ledger, you must:
- Decide which ledger options you need. For more information, see About Designing Your General Ledger.
- Design your account number format, specifying the size of your account numbers and how the numbers are segmented. For more information, see About Account Segments and About Account Structures.
You specify most General Ledger setup options using the G/L Options setup screen. For more information about using the G/L Options screen, see G/L Options Screen.
General Ledger Options
You specify the following general information and options:
- Whether your company uses multicurrency accounting.
- The number of fiscal periods in your business year.
- The start and end dates of accounting periods.
- All optional fields that you will use in General Ledger and in subledgers.
General Ledger Account and Ledger Options
You specify the following account and ledger options using the G/L Options setup screen:
- Whether your general ledger uses multicurrency accounting
- Default rate type
- Whether to use account groups
- Whether to maintain quantities
- Number of decimal places in quantities
- Default closing (retained earnings) account
- Reporting rounding account (euro functional currency only)
- G/L Security (and the resulting default access to accounts)
For more information, see About Setting Up General Ledger.
General Ledger Account Segment Options
You specify the following account segment options using the G/L Options setup screen:
- Default structure code
- Account segment
- Segment delimiter
- Segment description table
- Segment number
- Segment name
- Length
- Use in closing (Yes/No)
For more information, see About Account Segments.
General Ledger Posting Options
You specify the following posting options using the G/L Options setup screen:
- Lock budget sets
- Allow posting to previous years
- Allow provisional posting
- Force listing of batches
- Years of fiscal sets
- Years of transaction detail
- Edit imported entries
- Default source code
For more information, see About Transaction Processing in General Ledger.