Flexible GL Account
Fusion allows you to define the structure of your General Ledger accounts. By defining segments, segment lengths, and segment values, you can meet your reporting and analytical requirements. You can easily extend your account structure and change account values after your initial implementation. Changes are immediately reflected across the system.
Fusion allows you to control which users and roles can view and create transactions for specific General Ledger accounts in order to protect sensitive data and improve the accuracy of data entry.
- Advanced Financial Reporting: Integrated reporting tools utilize the GL account structure so you can design financial statements that are tailored for your business based on the account segment structure and configured hierarchy. Reports can be published on the web or distributed through email in Excel or PDF formats.
- Flexible Configuration of Financial Periods: Select monthly, bi-monthly, annual, or define a custom set of financial periods. Keep financial periods open as long as required to complete data entry and audit the balances. During data entry, the system will automatically suggest the financial period that corresponds to the transaction date and issue a warning if you override the period to protect against errors associated with multiple open periods.
- Automatic Allocation of GL Balances: Distribute GL account balances over multiple accounts based on predefined allocation rules. Establish allocation rules based on percentages, quantities, statistical data, or proportionally to other GL account balances. You can create and run multiple subsequent allocation templates.
- Drill Down to Original Documents: Utilize a complete set of inquiry screens and reports to gain immediate access to GL balances. Drill down to the originating document from any inquiry screen or report, even if the transaction was created in another module.
- Reversing and Auto-Reversing Entries: Reverse GL transactions with one button click. Create automatically reversing transactions that generate the reversing entry in the next financial period during the post procedure or when the financial period closes.
- Recurring Transactions: Create recurring transactions based on specific schedules and time periods. Specify templates with expiration dates, execution limits, and custom execution schedules.
- Audit Trails: The GL module provides a complete audit trail of all journal transactions. After a transaction is posted, you cannot delete or cancel the transaction – to correct mistakes, you must enter a correcting GL transaction to reverse the incorrect entry. The system keeps the details of all GL transactions, including the user who entered the transaction and the user who modified the record.The auditing process is simplified by having notes as well as supporting electronic documents attached directly to the transactions.