General Ledger functions

The General Ledger functions (General Ledger menu) are activated by clicking on the General Ledger box (Administration page),

 The implementation of the functions related to the General Ledger requires that the standard costs be previously estimated. The Costing has thus to be selected.

The general ledger records a file which includes the accounting transactions. By definition, a transaction is a set of lines so that the amount of debit is equal to the amount of credit.

Each transaction is characterized by a specific number.

Each transaction is entered on a journal which groups operations by their nature of operations.

Each transaction includes an account number. As a consequence, it is possible to find all the transactions corresponding to a given account number.

The monthly sum of the debit and the credit for each account is automatically computed and recorded.

For tractability purposes in a pedagogical setting, each entry can be changed at any time: there is no closing procedure which would freeze some transactions and prevent any further change.

The Year Closing function (General Ledger menu) transfers the accounts balances for the preceding fiscal year in a closing given the digit 0 in the Opening Balance journal. The entries generated by this closing procedure cannot be further changed.