Acumatica General Ledger

The General Ledger software module (GL) allows you to centralize your financial information. Whether you make entries directly into the General Ledger or make entries from other modules and then post them to the General Ledger software module, you are able to analyze all your financial information in one place.

Highlighted Features

Flexible GL Account and Sub Account Structure

Define the structure of your General Ledger accounts and sub accounts with Acumatica’s software. Once you’ve set it up, you can easily extend your account structure and change account values. And you’ll be able to meet your reporting and analytical requirements by defining segments, segment lengths, and segment values. Moreover, any changes you make will be immediately reflected across the system.

Account and Sub Account Security

To protect data that may be sensitive, and also improve the accuracy of data entry, in Acumatica, you can are able to control which users and roles are able to view and create transactions for specific General Ledger accounts and sub accounts. With the “on-the-fly” entry feature, you may restrict the list of available sub accounts based on pre-defined combinations of segment values. Doing so will simplify the entry of orders for complex sub account structures.

GL Consolidation

Download PDF data sheet

With Acumatica, you’re able to import financial data from different entities. This gives you the ability to create consolidated financial reporting and analysis. And even if entities keep their books in different currencies or have different account and sub account structures, the import process will still work. In order that corrections for minority interests, inter-company transfers, and other transactions are not affected by subsequent consolidations, they are preserved inside the consolidating company ledger.

Additional Features

• Advanced Financial Reporting:

With Acumatica, you’re able to design financial statements that are tailored specifically to your business based on the sub account segment structure and configured hierarchy. This is because Acumatica’s integrated reporting tools use the GL account and sub account structure. Acumatica users are also able to publish reports online or distribute them via email in either Excel or PDF formats.

• On-The-Fly Sub Account Entry:

To automatically add unique combinations of valid subaccount segments to the list of available sub-accounts, simply enable on-the-fly entry and you’ll be able to make those additions during data entry.On-the-fly entry will permit you to adhere to complex reporting requirements without having to pre-define and maintain complex segmented GL sub account structures.

• Flexible Configuration of Financial Periods: With Acumatica, you can keep financial periods open as long as you need to in order to finish the data entry process and audit balances. You can even set your own financial periods. Choose between monthly, bi-monthly and annual, or define  your own, custom set of financial periods. At the time of data entry, the software system will automatically suggest the financial period that corresponds to the transaction date. It will also give you a warning if you override the financial period. This helps guard against errors associated with multiple open periods.

• Multiple Currencies Support: If you’d like to enter GL transactions in different currencies, just activate multiple currency support. Following translation rules that you establish, the General Ledger Software will maintain balances in the base currency and also in the foreign currency. If you’d like more information, see Currency Management.

• Automatic Allocation of GL Balances: Predefined allocation rules will allow you to automatically distribute GL account balances over multiple accounts and sub-accounts based. You may establish these allocation rules based on percentages, quantities, statistical data, or proportionally to other GL account balances. It is also possible for you to originate and run multiple subsequent allocation templates.

• GL Accounts Budgeting and Budget Approval: With Acumatica, you can create an unlimited number of budget scenarios, which allows you to maintain optimistic, pessimistic, and expected budgets. You are also able to establish access rights, which means that teams can provide input into the budget process without viewing salaries or information from other subsidiaries. Budgets, once approved, can be used for comparative analysis in financial statements and analysis reports as well as for monitoring expenditures.

• Drill Down to Original Documents: Gain instantaneous access to GL balances with Acumatica’s complete set of inquiry screens and reports. From any inquiry screen or report, you’re able to drill down to the originating document, even when the transaction originated in another module.

• Reversing and Auto-Reversing Entries: In Acumatica, you’re able to reverse GL transactions with just one button click. You can also generate automatically reversing transactions that will create the reversing entry in the following financial period, and you’re able to do this either during the post procedure or when the financial period closes.

• Recurring Transactions: Create your own recurring transactions that are triggered by specific schedules and time periods that you list in the program. You can also prescribe templates with expiration dates, execution limits, and custom execution schedules.

• Audit Trails: Once a transaction has been posted in Acumatica, you cannot delete or cancel it. In this way, the GL module provides a comprehensive record of all journal transactions and a complete audit trail.If you’ve incorrectly entered information, you may enter a correcting transaction. Doing so will reverse the mistake. Acumatica keeps track of more than just entered GL transactions, also logging imported transactions and recording any users who enter or modify the record. It is this level of detail – with notes and supporting electronic documents attached directly to transactions – that simplifies the auditing process.

Ready to evaluate Acumatica? Call Mike Quirke, CPA at 713-494-1045.
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