Getting the Most from Sage 300 – General Ledger

With General Ledger and Financial Reporter, you can:

• Set up a chart of accounts that fits your company today and allows for growth in the future.
• Set up departments, divisions, cost centers, and other accounting subdivisions, assigning different retained earnings accounts and producing separate financial statements and reports for each.
• Structure your account numbers any way you wish, use different structures for different cost and revenue subdivisions, and add new structures in the future as your needs change.
• Assign optional fields to accounts to include extra information that your company wants to keep with your General Ledger accounts.
• Assign optional transaction fields that will be used with transaction details that use the accounts to which the optional fields are assigned.
• Assign account access rights to individual users, to minimize the risk of unauthorized activity.
• Use either 12 or 13 fiscal periods per year, and keep account detail and summary data for as long as you wish.
• Create an unlimited number of account groups.
• Create Rollup accounts that show the relationships between accounts to assist in classification, budgeting, and reporting.
• Maintain additional account balances, including:
  • Quantities associated with monetary amounts.
  • Up to five budgets.
  • Provisional account balances based on provisional postings. Test the outcome of batch processing without affecting the actual amounts in accounts. Once you are satisfied that a batch will create the correct results in the general ledger, you post the batch to your permanent records.

• Enter batches of transactions directly into General Ledger.

• Set up any number of recurring journal entries for fast processing of monthly transactions.
• Schedule recurring entries with reminders, so that Sage Accpac will remind you to process recurring entries when they are due. (You can then process the transactions directly from the Reminder List, or use the Create Recurring Entries Batch feature later.)
• Review, edit, and post batches generated by other Sage 300 accounting applications.
• Import batches from non‐Sage 300 applications.
• Create batches of entries that automatically allocate account balances to other accounts, using the percentages you specify — to redistribute costs to cost centers, for example.
• Create batches of currency revaluation transactions that reflect gains and losses from changes in exchange rates.
• Save copies of batches that recur regularly, to use again later.

• Require batch listings to be printed before posting (this is optional).
• Enter a reference, a description, and a comment of up to 250 characters to precisely identify each journal entry and each debit or credit entry within a journal entry.
• Print a journal of entries posted in each posting run, listing key pieces of information you can use to track each detail.
• Use the G/L Transactions Listing to trace details back to their posting journals.
• Drill down from the Transaction History form to display subledger source documents online.
• Control the level of editing allowed for batches generated by Sage Accpac subledgers and by non‐Sage Accpac applications.
• Assign source codes to identify the source and type of transaction details, for reporting in the source journals you define.
• Create multiple levels of account relationships by designating an account as a rollup account to which other accounts will be rolled up.

Several built‐in controls prevent you from taking actions that could damage your data. For example:

• When adding entries, you must use valid accounts, fiscal periods, and source codes.
• You cannot post unbalanced entries.
• You cannot import data containing errors, such as missing accounts or fields out of order.

General Ledger provides a full range of reports, journals, and lists, including (but not limited to) the following:

• Chart of Accounts.
• Trial Balance.
• Batch Listing.
• Posting Journal.
• G/L Transactions Listing.
• Source Journals
• Batch Status.
• Optional Fields.
• Transaction Details Optional Fields.