GENERAL LEDGER SETTINGS

As mentioned already, the General Ledger accumulates all financial transactions for an entity and lets you evaluate the financial condition of the business at any given point in time. Associated with this are also a number of business rules, defined in the system as application settings, that lets you have complete control on how transactions flow into the General Ledger. Therefore, it is very important that the initial settings are reviewed very carefully, as well as any subsequent changes to the same.

The Global GL settings affect every organisational entity set up in CREST ERP. These allow you to enforce a common Chart Of Accounts and accounting definitions across every organisation that may be set up in the system. However, exceptions from these standard settings for individual organisations, in a multi-company setup, are made in the Organisation GL Settings. These overrides may be needed owing to the nature of business of the organisation or special reporting requirements.

The General Ledger is explained in the following sections.