Before you set up your general ledger, you must:
- Decide which general ledger options you need (see Designing Your General Ledger).
- Design your account number format. One of the first things you do in the new ledger is set the size of your account numbers and how the numbers are segmented.
Most General Ledger options are selected on the G/L Options window. However, a few system-wide options are defined in the Common Services part of the System Manager, including the number of fiscal periods in your business year, and the start and end dates of accounting periods. For more information on Common Services, refer to the System Manager Help.
The following table describes where ledger and account options are selected.
|
Ledger options |
Account and ledger options specified in G/L Options |
Posting options specified in G/L Options |
Account segment options specified in G/L Options |
|---|---|---|---|
|
Functional currency |
Use account groups |
Years of fiscal sets |
Segment delimiter |
|
Default rate type |
Maintain Quantities |
Years of transaction detail |
Segment description table |
|
|
Decimal places in quantities |
Edit imported entries |
Segment number |
|
|
Default closing (retained earnings) account |
Default source code |
Segment name |
|
|
Reporting rounding account (euro functional currency only) |
Allow Posting to Previous Years |
Length |
|
|
G/L Security and the resulting default access to accounts |
Use in closing (Yes/No) |
|
|
Multicurrency option |
Default rate type |
Allow posting to previous years |
Account segment |
|
Number of fiscal periods |
Multicurrency option |
Lock budget sets |
Default structure code |
Each account number can contain up to 45 characters, including segment delimiter (separator) characters.
Individual account numbers can contain from one to ten segments, and you can vary the number and order of segments used in account numbers in the same general ledger (by using different account structures).