Updating generic general ledger tables
Updating generic general ledger tables - Dominant and submissive sex chat rooms
Journals Balances Updated: Posting process updates the journal balances.You can inquiry the account balances in General Ledger for all posted transactions.
Periodic postings is required to ensure balances for accounts are current, so the business has the up-to-date financial information it needs to make quick decisions.
In this step the system will validate the journal batch, determine if approval is required, and submit the batch to approvers (if required), then notifies appropriate individuals of the approval results.
Email notifications can be sent to the approvers using the system and they can review and approve the journals.
To enable this business users need many types of financial reports.
The next step in the general ledger process is to generate these useful reports and the most common reports run from General Ledger are Transactions Register and Trial Balance Report.
All transactions must be posted to the ledger at the end of an accounting period.
Once the Journals are posted users can query for updated account balances using the account inquiry functions.You might need to make some adjustments to the journals coming from other sources if you want to change the accounts or amounts that are coming from the sub-systems.Review functionality gives the capability to query the journals based on different parameters and also make edits if required.This step is generally optional and many organizations skip this step by putting additional controls in the process.If this feature is enables then the journal cannot be posted unless it has been approved.GL process flow is a five step process from recording the transactions in the system to finally running the reports containing financial data out of the system.