The General Ledger Interface is normally run once a month by most companies, but can be run daily with

no difficulty. It is very similar to our Standard Report Writer process except that it reads the Distribution, Accounts Payable and Purchase Order Master files during the course of processing and can produce a magnetic file for input to a general ledger system. As in all our other processing flows, we take in online controls and apply them against company, report (from the Vendor Master file) and Table file records to arrive at the list of parameters that will control the process today (please refer to Month-end Processing in the Processing chapter of the Reference Documentation for a full treatment of the general ledger interface options). Note: Selection criteria is not allowed for the General Ledger Interface reports (APR81), all records that meet the posting criteria will be posted. The General Ledger Interface Module then reads the Distribution, Purchase Order and Accounts Payable Master files and creates a debit and credit entry for each un-posted distribution. In the case of invoice line items, where tax, freight and discounts may be prorated to the line item accounts, several debit and credit entries could be produced for each distribution. These detail charges are sorted and printed on the General Ledger Interface report. This serves as a detailed audit trail for any posting records sent to the general ledger. If you have instructed the General Ledger Interface Module to produce a file for the general ledger (you could have selected a trial posting only), then an interface file is produced. This file can include as much or as little detail as you want. For instance, you may decide that all expense entries will show full detail, Accounts Payable offset entries will be summarized by account and the Cash Account entries will be summarized by cost center. If you have elected to create an interface file, the Distribution, Purchase Order and Accounts Payable Master files are updated with the posted information to prevent postings on a subsequent run.

The DDA General Ledger (DDA GL) is a system solution for analysis of your financial information. It offers an array of tools to

GL Brochure

handle a full spectrum of financial reporting needs This DDA system offers general ledger capabilities that already are superior to most standard general ledger systems, but DDA's newest enhancements make this a truly exceptional product for maintaining your financial database. DDA GL operates as a single or multi-company system. It gives maximum flexibility to corporations with independent divisions or subcompanies. Each company can have its own unique controls and can use each of these control categories independently, or share them with another company. For example, one company can have separate report controls and organizational structures, yet share the same chart of accounts with other subsidiaries. DDA GL includes a Statement Analysis Reporting module (Star) which produces a complete set of financial statements. The system comes with a full range of predefined reports. Users can customize predefined reports or create new reports to meet specific needs. Reports are defined in a spreadsheet format using commands in plain English. To save time formatting, definitions can be copied from one report to another. DDA GL provides progressive methods for handling allocations, budgeting and complex calculations that you can be applied to all general ledger functions. The system stores calculations or other common definitions in a central dictionary. DDA GL creates account balance records only when a journal is posted to an account. As a result, storage requirements are sharply reduced. The system handles foreign currency conversion and reporting in accordance with FAS-52. As a result, multinational companies can automatically translate financial statements and perform consolidated reporting in accordance with Generally Accepted Accounting Principles (GAAP). DDA GL can be completely integrated with all of your existing financial systems.

Process

DESCRIPTION
Understand the generic general ledger process. Some systems may have slight variations to the above process, but the underlying concepts remain more or less same!

TECHOFUNC DEFINITION:
This topic will explain the generic general ledger process. Some systems may have slight variations to the above process, but the underlying concepts remain more or less same!

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Create Journal/ Import Journal from SubLedger: Accounting Journals can be created directly in the General Ledger. They can also be created in subsidiary ledgers and can then be imported to General Ledger. Review Journals: Once the Journal is available in the General Ledger System you can query that journal. While reviewing the journal, you can make edits/corrections if required. Approve Journals: Accounting prudence require that all financial transactions should be reviewed by someone other than the person creating the transaction. Approval ensures validity and correctness of the transaction. Journals Post: Journals posting is a process of updating the database with the amounts. Once the Journals are posted you can query for updated account balances. Journals Balances Updated: Posting process updates the journal balances. You can inquiry the account balances in General Ledger for all posted transactions. Run Reports: General Ledger has many built in reports. Most common reports run from General Ledger are Transactions Register and Trial Balance Report. This is a generic general ledger process. Some systems may have slight variations to the above process, but the underlying concepts remain more or less same! Now we will understand what drilldown means in Automated Accounting Systems in the next topic.

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The General Ledger

After journalizing transactions, the next step in the accounting process is to post transactions to the accounts in the general ledger. Although T accounts provide a conceptual framework for understanding accounts, most businesses use a more informative and structured spreadsheet layout. A typical account includes date, explanation, and reference columns to the left of the debit column and a balance column to the right of the credit column. The reference column identifies the journal page containing the transaction. The balance column shows the account's balance after every transaction.

When an account does not have a normal balance, brackets enclose the balance. Assets normally have debit balances, for example, so brackets enclose a checking account's balance only when the account is overdrawn. As the numbered arrows below indicate, you should post a transaction's first line item to the correct ledger account, completing each column and calculating the account's new balance. Then you should enter the account's reference number in the journal. Repeat this sequence of steps for every account listed in the journal entry.

Referencing the account's number on the journal after posting the entry ensures that every line item that has a reference number in the journal has already been posted. This practice can be helpful if phone calls or other distractions interrupt the posting process.

General Ledger Process : Different Material:

General ledger for small business accounting

Our general ledger maintenance and reconciliation help organizations to focus on the core functions. By utilizing a wide range of general ledger software and applications such as QuickBooks, Peachtree, Sage Line 50, Quicken, MYOB, IRIS and LaCerte. we can assist you in your accounting general ledger needs. We deliver high quality results at an affordable price.

Our general ledger accounting and reconciliation includes...

Adjust for prepayments and accruals Process asset purchase, disposal and depreciation journals Process stock movement and adjustment journals Process payroll journals Process lease, purchase, loan and dividend journals Review all general ledger accounts and correct any posting errors Reconcile all balance sheet control accounts Provide copies of all journal entries made together with a detailed narrative of why the adjustment was made Maintaining Chart of Accounts and ensuring entry of transactions to appropriate accounts

We provide you the flexibility to outsource your accounting department to us or get assistance in a specific area like general ledger accounting and reconciliation. Our bookkeepers and accountants can assist you in various functions associated with your bookkeeping needs.

General ledger accounting and reconciliation benefits...

Generates the information required to manage your business Enables lenders and investors to see accurate and complete books Provides an accurate picture of your organization's income Eliminates the possibility of being exposed to fines and penalties

Business transactions are to be properly classified into appropriate accounting heads as per the prescribed accounting standards and the applicable legal provisions. We can help you to record and analyze financial data and prepare financial statements and reports. Contact us to know more about our general ledger accounting and reconciliation.

Bank reconciliation to avoid discrepancies

Businesses make deposits and receive numerous receipts from their clients on a regular basis. Bank reconciliation is a highly complicated and time consuming process. Reconciling your bank account statement is an absolute necessity even if it is a costly and time consuming task. We can help you to resolve discrepancies in your bank statement by performing complicated processes such as sorting various transactions by type or date, deducting errors or by adding deposits in transit.

Why bank account reconciliation?

It makes important updates to general ledger and receives timely entries from the other applications Provides the ability to eliminate bank statement errors It ensures that there are no payments of financial charges on the credit card by ensuring timely payment. Enables to control cash flow with the void checks and stop payments function Verifies the amount of cash in your account It uncover irregularities

We know the importance of the security of data provided by clients and has implemented several security procedures to protect it. Our servers are highly secured, firewall protected and well monitored round the clock by experts who prevents unauthorized access to our network and systems. We provides a wide variety of reports reflecting debit and credit card reconciliation activity, and exceptions that have occurred on the account. Our sophisticated tools will make the bank reconciliation process more accurate. By managing your bank reconciliation tasks in a professional and cost-effective manner, we serve as an extension of your small business accounting. You can outsource all your bank reconciliation requirements including excel bank reconciliation to us. Each professional is assigned to only a single client, this helps them in developing specific knowledge required for that particular client. Our bank reconciliation service is most beneficial for organizations that do numerous financial transactions. We employs unique and proven methods, cutting edge bank reconciliation software and experienced professionals to provide you with world class bank reconciliation solution. We offer you the flexibility to outsource some individual functions or to outsource the entire internal accounting and bookkeeping functions to us. If you require more information about our bank reconciliation services, please contact us.