Highlights: - Each general ledger account balance can be broken down into account balances reflecting original transaction currencies
- Suits any implementation scenario as it can cover any extension level from full-size general ledger to specific shadow ledger considering selected products and valuation elements
- 360-degree breakdown and drilldown to configurable portfolios, individual deals, accounting transactions, valuation results and even underlying cash flow plans
- Support of period-end tasks such as zeroisation of profit and loss accounts or FX valuation
- Consolidation considering intra-company and inter-company deals depending on the level of consolidation
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The blueprint Financial Accounting contains a general ledger.
This general ledger supports multiple GAAPs in parallel.
For each GAAP it can be decided if the implementation should cover a
- Full-size general ledger
- Shadow ledger or
- Shadow ledger light.
Figure: Drilldown from general ledger account balance
A General Ledger consists of
- Balance Sheet
- Profit and Loss
- Chart of Accounts
It can deal with
- Multiple GAAPs in parallel (The General Ledger contains a separate chart of accounts for each GAAP)
- Multiple tennants (The General Ledger supports consolidated views)
- Multiple currencies (The General Ledger keeps all bookings in original transaction currency as well as in functional currency)
The General Ledger
- Allows analysis at account, product, customer, business and project level with results aggregated at account / cost center level.
- Allows more accurate and efficient product control as entries are made at detailed and consolidated levels.
- Enables easier automation of reconciliation with minimal manual intervention as detailed or transaction-based data can be tracked and analysed in multiple dimensions.
In a multi-GAAP environment, it is possible to run e.g. a full-size general ledger for IFRS and a shadow ledger light for local GAAP which focusses on the specific valuation elements for a specific portfolio.