The General Ledger is the core of your company’s financial records.
Every transaction will flow through this ledger and provide a permanent track of the history for all the financial transactions.
Product Features
Trial Balance.
Profit & Loss Account.
Balance Sheet, and other statutory and management reports, defined to your requirements.
Flexible, multi-level coding structure.
Multiple companies with inter-company transaction processing.
Integral consolidated reporting of both actual and budgeted figures.
Reporting on previous financial periods with no time limit.
GL Accounts
Elements
Each General Ledger account code is made up of a maximum of four elements, to reflect the structure of your general ledger.
For example, an account could consist of one 6-digit element: 019954, or of three elements such as Division, Department and Account: 01.SALES.3324.
Elements can be made up either of digits only, or of alphanumeric characters. An individual element can be up to 16 characters long, and the entire account code can have a maximum of 19 characters. The elements are separated by full stops. Different types of account can have a different number of elements (for example, Balance Sheet accounts can be simpler than Profit & Loss accounts).
Different companies can have different account structures, but this is not recommended if you require cross-company consolidation. Note that once you have defined the structure for a given company, you cannot change it without technical assistance.
Use GL Elements to set up the valid codes for each element.
Fixed elements
If your account structure has fixed elements, you must specify the combinations of elements that are valid for your accounts. Coins ERP+ will not create accounts that do not match the list of valid fixed elements.
For example, if your account structure is fixed at element 2, you must specify the valid combinations of elements 1 and 2.
Use Fixed Elements to set up fixed elements.
Generating accounts
General Ledger accounts are generated in one of two ways:
If a transaction is posted to an account which has not been used before (provided the account elements within the code used in the transaction are valid and provided the parameter AUTOGEN is set to Y), Coins ERP+ creates the account record automatically. In this case, you may need to use Account Maintenance to update the account record to include any information which is not generated automatically.
Using Account Maintenance to generate accounts manually.
Short codes
Your system can have short codes set up for some General Ledger accounts. Short codes are "aliases" for accounts. If you enter a short code, Coins ERP+ automatically replaces the short code with the account code. You can use short codes to speed up input of data.
When entering a General Ledger account number on a transaction the following logic applies:
Does the account already exist?
Can it be assembled from the elements?
Is it in the Short Code list, in which case the actual code will be substituted for the short code you entered.
If none of the above, the code is invalid.
Use Short Codes to set up GL short codes.
Account Masking
In some places where you specify a General Ledger account code, you can use an account mask so that Coins ERP+ fills in part of the account code from information given elsewhere. To use an account mask, put underscores ( _ ) in place of the parts you want Coins ERP+ to fill in.
For example, if one element of the account code relates to contract location, you could specify the default accounts for different locations in as being 01._ _._ _ _ _, 02._ _._ _ _ _, and so on. Then on the cost heads, you could specify the GL Accounts as _ _.10.2010, _ _.10.2020, and so on. Coins ERP+ will then fill in the complete account codes for the first location as 01.10.2010, 01.10.2020, for the second location as 02.10.2010, 02.10.2020, and so on.
As another example, FA Configuration specifies the default codes for new asset groups. The default codes on new assets are built up from the codes on the group and department to which the asset belongs. If an element is filled in on both group and department, the one on the department takes priority.
When a transaction is entered, Coins ERP+ builds up the General Ledger account from the account elements on the asset, and the cost head determined by the transaction.
For example; if your General Ledger codes are made up of three elements department.type.account, you could set up, say, the Purchase Control account on mechanical plant asset groups to be _ _.MP._ _ ; on department 1, to be 01._ _._ _ and on a cost head for asset purchases to be _ _._ _.2070 . Then when an asset purchase is entered for a mechanical plant asset and department 1, Coins ERP+ posts the transaction to account 01.MP.2070.
Asset Group | _ _.M P._ _ _ _ |
Department | 0 1._ _._ _ _ _ |
Asset | 0 1.M P._ _ _ _ |
cost head | _ _._ _.2 0 7 0 |
Transaction | 0 1.M P.2 0 7 0 |
General Ledger Account Lookup
Depending on how Coins ERP+ has been configured, when you use Lookup on an account field, the lookup can be by element or by full account code.
If the lookup is by element, you can use Lookup Arrow to build up an account code from the individual elements. Each time you click Lookup Arrow, the lookup shows the available codes for the next blank element. You can select one to use as your input to the field.
For example, if your account structure is Division.Department.Account:
Click Lookup.
Coins ERP+ displays a lookup of all the division codes.
Click Lookup Arrow next to the code you want to select.
Coins ERP+ displays a lookup of all the department codes.
Click Lookup Arrow next to the code you want to select.
Coins ERP+ displays a lookup of all the account codes.
This is the last level in the account structure, so click Choose next to the code you want to select.
Coins ERP+ inserts the completed account code into the field.
