6 GL Daily Procedures

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<b>Contents</b>

General ledger setup

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<b>General Ledger Set up</b>

Use General ledger to defne and manage the legal entity’s fnancial records.

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General ledger journal

Approval journal

Periodic journal

General ledger reversal

Inquire and View Reports on Daily Journal Transactions

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<i><b>General Ledger Journal</b></i>

Using a general journal, users can post transactions to the following

accounts :

 _{General ledger}
 _Bank

 _Customer
 _Vendor
 _Projects

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<i><b>General Ledger Journal</b></i>

In a general journal, users enter the following relevant information

for the transaction:

 _{Posting date}
 _Amount

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<i><b>General Ledger Journal</b></i>

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<i><b>General Ledger </b></i>

<i><b>Journal</b></i>

<b>Create a general ledger journal:</b>

 _Journal
 _Lines

<b>NOTE: The Posted check box is selected automatically after the journal has been </b>

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<i><b>General Ledger </b></i>

<i><b>Journal</b></i>

<b>Enter general ledger transactions:</b>

 <b>_{Enter transaction (accounting date, ledger account, debit or credit}</b>

<b>amount, ofset account)</b>

 _{Post transaction}

 _{Post multiple journals}

 _{View transaction}

<b>NOTE: Set up default number sequences using the General ledger parameters form. </b>

<b>To do this, click General Ledger, click Setup, then select General ledger parameters. </b>
If you set the number sequence to Continuous and you allow no user changes, the
voucher feld is skipped automatically. Refer to the Microsoft Dynamics AX
Introduction manual for more information about number sequence.

<b>Ofset account can be entered on the same line or multiple lines. Set up the default </b>

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<i><b>General Ledger </b></i>

<i><b>Journal</b></i>

<b>Enter general ledger transactions:</b>

 _{Enter transaction (accounting date, ledger account, debit or credit}

amount, ofset account)

 <b>_{Post transaction}</b>

 _{Post multiple journals}

 _{View transaction}

<b>NOTE: You can use the Post journals menu option to post multiple journals with </b>

large processes in a batch. You can also post multiple journals that you have created

<b>in the following modules by selecting the Post journals menu option: General ledger, </b>
Accounts receivable, Accounts payable, Project.

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<i><b>Approval journal</b></i>

To set up an unlimited number of journal templates, use the

Journal names form.

You can set up the journal templates with or without a mandatory

approval of the transactions before posting.

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<i><b>Periodic journal</b></i>

A periodic journal only has data entered periodically.

For example:

 _{During each month-end accounting close, a user makes the same entry}

with the same account numbers and currency amounts.

 _{The user sets up a periodic journal to make this process quicker.}

 _{Then, each month, the user retrieves the journal and posts it with the}

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<i><b>General ledger </b></i>

<i><b>reversal</b></i>

The transaction reversal feature includes:

 _{Setup options in General Ledger parameters}

 _{Number sequences for tracing purposes.}

 _{The ability to reverse a transaction and subledger transactions.}
 _{The ability to undo a reversal.}

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<i><b>General ledger </b></i>

<i><b>reversal</b></i>

The following transactions can be reversed:

 _{General Ledger transactions}

 _{Customer transactions, except transactions that relate to sales orders,}

projects or bank.

 _{Vendor transactions, except transactions that relate to purchase orders or}

bank.

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<i><b>General ledger </b></i>

<i><b>reversal</b></i>

The reversal functionality does not apply to:

 _{Transactions included in the bank reconciliation}
 _{Project invoices and credit notes}

 _{Vendor invoices entered through purchase orders}
 _{Sales invoices entered through sales orders}

 _{Inventory transactions}

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<i><b>Inquire and View Reports on Daily Journal </b></i>

<i><b>Transactions</b></i>

Various reports can be run to help you review and reconcile

General Ledger posted data.

 _{Report: Print Journal}

 _{Report: General Journal Entries That Have Not Been Posted}
 _{Report: Account Balances}

 _{Report: Balance List}
 _{Report: Trial Balance}
 _{Report: Audit Trail}

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