General ledger

The ledger is where a finance team can explain a posted amount as debit and credit lines. Ledger accounts carry a code, account name, type, group, normal balance and lifecycle status. Journal entries carry the organization, posting date, source, period and status. Their lines point to the accounts that receive each debit or credit. The entry’s rolled totals and out of balance value give the Staff Accountant a practical review point before posting.

Accounting periods provide the calendar around that review. Their start and end dates, fiscal year and status let the Controller distinguish open periods from closed or locked ones. Use the period on the journal header to keep a posting inside the intended books and reporting interval. A journal that balances numerically but belongs to the wrong organization or period still needs correction before it is treated as a reliable accounting record.

• Account structure. The chart distinguishes assets, liabilities, equity, revenue and expenses and groups related accounts.
• Journal detail. The header identifies source and period; lines hold debit, credit, posting type and account.
• Period calendar. Start and end dates define the interval while the period status indicates the finance team’s close state.

Agree who owns the account chart and how existing account codes map to it. For a migrated journal, use a source value that helps the reviewer understand where the entry came from. Decide when a journal is ready to post, how an incorrect posted entry is reversed, and who may change the period state. Review the journal’s debit and credit totals together with its lines; a balanced total alone does not explain an expense charged to the wrong account.

Set up a bounded period for the first rehearsal. Include a manual entry, a payable related entry and a correction case. Keep the supporting source reference close to each entry. The accounting team can then check that the same organization’s period, journal and account structure remain aligned before it expands to more transactions.

Take an approved partner bill and examine the account on each coded expense line. The Staff Accountant creates or reviews the related journal header and lines under the right organization and open period. Verify the debit and credit totals, the out of balance indicator, and the posting date. The Controller compares the resulting entry with the period calendar and asks for a correction if an amount or account is wrong.

For a reversal, preserve the original posted entry’s context and identify the correcting entry through the journal source, description and status. An auditor should be able to move from a period register to its journal lines, then to the original business record and decision. The reports can show totals, but the review should remain possible at line level.

• GL Entry Review — Journal headers with their source, period and debit and credit totals.
• Unposted Journals — Draft entries needing accounting review.

See journal and period review and reports.