This chapter only applies if you have installed the entrée.GL General Ledger add-on module.

 

General Ledger is the heart of the accounting system. General Ledger provides the means for maintaining financial records, and creating financial reports and statements. General Ledger shares information with Accounts Payable and Accounts Receivable to create an integrated accounting system. You start by completing the information for the General Ledger company that was created during the installation process, and then create a chart of accounts.

 

Once you have a chart of accounts, you can manually create journal entries and post them to General Ledger. Posting affects the account balances, thereby updating information about your company's financial position. Periodically, you generate balance sheets and income statements that allow you to review your company's financial status.

 

At the end of each accounting period and fiscal year, you can close the period or year in order to maintain accurate information about that period. You can also generate a variety of reports useful for reviewing account information, and identifying trends in account activity.

 

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