General ledger
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
Approval conditions
Controller: Approve JournalEntries, RevaluationRuns, BankReconciliations, Bills and credit memos above clerk limits, PayRuns and urgent PaymentsMade above AP Clerk limit, disputed IntercompanyTransactions, DepreciationRuns, AllocationRuns, AssetMovements, RateOverrides, ApprovalDelegations and waived CloseTasks
PendingApproval
- JE-21112 ENT-4622 150 4 d
- JE-58944 ENT-8633 450 14 d
- JE-49861 ENT-6361 380 9 d
- JE-89721 ENT-9342 30 13 d
- JE-88494 ENT-8666 440 2 d
JE-21112
- Entity
- ENT-4622
- Date
- 13 Sep
- Description
- Issue to WIP
- EntryType
- Standard
- Source
- Manual
Approval waits for the controller.
- Entities
- Currencies
- ChartOfAccounts
- AccountingPeriods
- JournalEntries
- JournalEntryLines
- ApprovalDecisions
- ApprovalDelegations
- RateExceptions
- RateOverrides
- CostCenters
- AllocationRuns
- AllocationLines
- FixedAssets
- AssetMovements
- FixedAssetCategories
- DepreciationMethods
- DepreciationRuns
- DepreciationLines
- BudgetVersions
- Budgets
- BudgetLines
Entity and group books
Entities defines functional currency, reporting context and ownership relationships. Functional currency is the basis of each entity’s trial balance. Group reporting translates the included entity results into a common currency using reviewed account policies and source periods.
A Group unit holds consolidation and elimination entries. It does not operate the legal entities’ bank accounts or subledgers. A group adjustment identifies its own eligible posting period and does not alter a subsidiary’s closed ledger merely because consolidation needs a correction.
StatusOpenSoftClose
Chart of accounts
Controller maintains the accounting structure and reviews changes. Subledger controls do not prevent legitimate bank or tax adjustments through their authorised workflows; they prevent an unrestricted manual journal from bypassing the supporting evidence.
| Setting | Accounting purpose |
|---|---|
| Control account | Limits postings to the appropriate subledger or authorised source workflow |
| Fixed currency | Restricts transactions to the supported foreign currency |
| Revalue | Identifies balances included in the reviewed monetary revaluation scope |
| Translation rate type | Selects the configured closing, average or historical conversion policy |
| Account type and normal balance | Supports presentation and debit/credit interpretation |
Journal information
JournalEntries holds the entity, eligible period, date, transaction currency, rate type, rate and approval status. JournalEntryLines holds account, cost centre, foreign debit or credit and functional debit or credit. Lines retain the rate applied and any approved override evidence.
A journal balances in functional currency. Configured rounding treatment accounts for conversion residue. Tax conversion can use a separately prescribed basis, which remains identifiable rather than silently replacing the accounting rate. A missing rate follows RateExceptions before posting.
Approval and correction
Subledger transactions post through their authorised source workflow. GL Accountant prepares manual accruals, prepayments and reclassifications; a different authorised Controller approves them. ApprovalDecisions preserves the source revision, actor and any currency-based authority comparison. ApprovalDelegations retains dated authority without bypassing conflict checks.
Posted journals are immutable. A reversal is another journal linked to the first. Rejecting an already posted payment must reverse its journal and applications before retry; reopening the bill alone does not undo the ledger effect. Unique source references prevent repeated posting of the same action.
Period control
AccountingPeriods belongs to an entity. Open periods accept authorised routine postings; SoftClose accepts the permitted close adjustments; HardClose refuses further postings. Admin reopening follows the recorded emergency procedure with actor, date, reason and independent Controller authorisation. Audit adjustments use an eligible adjustment period.
The period described by a report is separate from the period receiving a new journal. A tax filing can report a hard-closed month while its later liability transfer or payment posts to an eligible open period. Intercompany transactions retain a period for each entity and their group reporting context.
Allocations and assets
AllocationRuns and AllocationLines retain the source amount, target accounts and cost centres, driver quantities, total driver and allocated shares. The targets reconcile to the source before Controller approval and posting. Reclassification within an entity changes where cost is attributed without creating extra total expense.
FixedAssets and AssetMovements preserve additions, disposals and carrying changes. DepreciationLines records each asset’s beginning basis, method, convention, units where applicable and calculated amount. DepreciationRuns summarises those workings for independent review and a journal. Posted asset changes remain linked to their source rather than overwriting the calculation history.
Opening balances
Migration imports open invoices and bills without posting, alongside the complete reconciled opening GL balances once. Each item links its migration batch and opening journal; original basis plus prior revaluation agrees to imported carrying value. Subsequent settlement uses that remaining basis. Posting the imported documents as well would duplicate the opening control balances.
Budgets and reporting
BudgetVersions and Budgets retain entity currency, version and budget-rate date. FP&A Analyst prepares the plan; Controller locks the reviewed version. Group comparisons distinguish budget translation from actual accounting rates.
Trial Balance links balances to posted lines and their foreign amounts. Journal Entries Awaiting Approval, Period Calendar and Close Task Board show decisions and progress without treating a draft calculation as a posted result.
Modules
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General ledger
Keep transaction amounts, functional values and approval evidence together across journals, close adjustments and group reporting.
-
Currencies and rates
Keep the source, purpose and approval behind every exchange rate, from document posting to group reporting.
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Revaluation
Restate foreign-currency balances with clear sign conventions, item-level carrying values and independent approval.
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Receivables
Keep customer balances, cash received and exchange differences clear across invoicing, collection and settlement.
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Payables
Review supplier bills and payment authority, then reconcile cash, withholding and exchange differences without losing the original evidence.
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Banking
Reconcile each bank account in its own currency, recognise unmatched cash and retain the evidence behind transfers and payment outcomes.
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Intercompany and consolidation
Agree cross-entity activity, preserve each company’s books and review translation and eliminations in the group reporting currency.
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Period close
Coordinate close dependencies, review supporting workings and keep reporting periods separate from later postings.
Reports
All reportsBudget vs Actual
Per account per cost center, budget, actual, variance and variance percent for period, quarter-to-date and year-to-date, in entity currency or translated at the budget rate for the group view.
Roles and permissions
Owns the trial balance, the close and the consolidated statements. Approves what the GL Accountant, the Treasury Analyst and the clerks prepare: manual journals, revaluations, reconciliations, bills and credit memos above the clerk limit, pay runs above the clerk limit, and the period close itself.
Prepares manual journals, accruals and prepayments, bank reconciliations and the entity close tasks the Controller approves.
Owns currencies, exchange rates, bank accounts, transfers between currency accounts and the month-end revaluation. Prepares what the Controller approves.
Processes vendor bills in the vendor's currency, checks them against the order and receipt references, and builds pay runs.
Raises customer invoices and credit memos in the customer's currency, applies cash at the receipt rate and runs dunning.
Loads and maintains budget versions in entity currency, runs allocations and reads variance in reporting currency.
Owns tax codes, jurisdictions, filings and the tax accrual.
External or internal auditor. Read-only across the platform with access to the closing binder, revaluation workings and the audit trail.
Related processes
Multi-currency period close
Approve reconciliations, revalue supported balances, review the close and consolidate each entity into the group reporting currency.
6 stages · 3 approvals
Invoice to cash in a foreign currency
Invoice customers in their currency, record cash when it arrives, and reconcile each application with the amount owed and its current carrying value.
6 stages · 2 approvals
Bill to payment
Review supplier bills, approve spending within recorded authority, and track payments, currency differences and rejected-bank attempts through to reconciliation.
6 stages · 2 approvals