general-ledger-setup
#General ledger setup
General ledger setup - The most important system settings are available on this page, where default parameters for the General Ledger and other application areas of the system can be specified. This page allows you to configure the permitted accounting period, set up local and additional currencies, define dimensions, number series, and more.
On the General tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| ISO Numeric Currency Code | Specifies a three-digit code number defined in ISO 4217 for the currency, which this bank uses for its bank account statement. |
| Post Money From Currency Documents | Specifies whether general journal lines are created for transit accounts when currency transactions are created. |
| Accounting Regulation | Specifies the country for which accounting is carried out. |
| Deferral Posting through Transit Acc. | Specifies if some G/L Entries during posting deferred revenues or expenses should be posted using transit account from General Posting Setup. It is needed for decreasing turnovers on revenues or expenses accounts. |
| Automatic Corresp. Posting | Specifies if correspondence entries will be created automatically when posting a document. |
On the Application tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| Divide Prepayments for Customers | Specifies the possibility of distributing an advance payment to multiple released documents simultaneously when installing a code applied. |
| Divide Prepayments for Vendors | Specifies the possibility of distributing an advance payment to multiple released documents simultaneously when installing a code applied. |
| Transfer Advance Payment Flag | Specifies if the attribute of an advance payment will be applied to the prepayment. |
| Control Payment Date for Order | Specifies that the system will monitor the payment Posting Date that was applied to the order. Posting orders with a Posting Date earlier than the Posting Date of payment is not allowed. |
On the Currency Adjustment tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| Currency Adjmt with Correction | Specifies if the FX adjustment entries will be generated with correction method. |
| Summarize Gains/Losses | Specifies whether to account for the cumulative result of gain or loss for accruing unrealized exchange differences. |
| Capitalize FX on Prepayment | Specifies whether a product or service needs to be revalued at a prepaid rate. Otherwise, the realized exchange rate difference will be accrued when vendor's operations are applied. |
| Adjust Currency Exchange Rate in Prepayments | Specifies if Payment transactions will be recalculated by the Adjust Exchange Rate function. |
| Realized Gains/Losses for Bank | Specifies whether the FX on bank accounts will be posted to the realized gains(losses) account. |
| Summarize Real Gains/Losses | Specifies whether to account for the cumulative result of gain or loss for accruing realized exchange differences. |
| Calculation of the exchange rate difference from local amounts | Specifies that the difference between the transaction and NBU exchange rates in currency documents will be calculated from local equivalents rounded to 2 decimal places. |
On the Import Exchange Rates tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| Import Exchange Rates | Specifies if it is possible to run the Import Currency Exch. Rate batch job. |
| Import Conflict Resolution | Specifies what will happen if a user runs the Import Currency Exch. Rate batch job and there are conflicting exchange rates. |
| Exchange rate start date formula | Specifies the date formula for the import start date in exchange rates. |
On the Apply Documents tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| Apply Purch. Invoices | Specifies Apply Purch. Invoices. |
| Apply Purch. Orders | Specifies Apply Purch. Orders. |
| Apply Posted Purch. Invoices | Specifies Apply Pstd Purch. Invoices. |
| Apply Sales. Invoices | Specifies Apply Sales. Invoices. |
| Apply Sales Orders | Specifies Apply Sales Orders. |
| Apply Posted Sales Invoices | Specifies Apply Pstd Sales Invoices. |
| Apply Serv. Invoices | Specifies Apply Serv. Invoices. |
| Apply Serv. Orders | Specifies Apply Serv. Orders. |
| Apply Posted Serv. Invoices | Specifies Apply Pstd Serv. Invoices. |
| Allow Prepayment for Automatic Application | Specifies if the Apply Prepayment function should be used for only "Manual" application method for Customers and Vendors. |
On the Auto Applying tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| Payments Auto Appliance | Specifies if the created payment will be applied from the open release document using the "Create payment" button in the Bank Payment Journal. |
| Adv. Payments Auto Appliance | Specifies if the created payment will be applied from the open posted invoice using the "Create payment" button in the Bank Payment Journal. |
On the Numbering tab, you need to fill in the following fields:
| Field | Description |
|---|---|
| Currency Sale Nos. | Specifies the code for the number series that will be used to assign numbers to currency sale documents. |
| Currency Purchase Nos. | Specifies the code for the number series that will be used to assign numbers to currency purchase documents. |
| Currency Conversion Nos. | Specifies the code for the number series that will be used to assign numbers to currency conversion documents. |
| Control Operation Nos. | Specifies the code for the number series that will be used to assign numbers to the controlled operations reports. |