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Definition: What is it?

A General Ledger is a collection of different type of accounts (balance sheet, income, expense) that are used to keep the accounting records of a business. A general ledger works with double entry accounting and journal entries for each transactionThe Organization GL settings sub menu allows the user to create configuration settings to be especially associated with parties that have the role type 'Internal Organization'. These configuration involves settings such as invoice numbering or sequencing, fiscal year start date and the default refund payment method.

What is it used for?

TO DO: add in paragraph here

What's on the screen?

The default screen shows a list of Party Groups that have the role of 'Internal Organization' associated with them. If you have installed the demo data then the default company 'Company' as well as departments such as 'ACCOUNTING', 'SALES', 'DEV', 'MARKETING' and 'TESTING' will be displayed.

For each of these entries you will have the ability to modify their individual configuration (using 'Setup') or viewing accounting transactions and reports (using 'Accounting').

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