In this topic:
This example shows you how to use the Gotransverse API to create, set up, and use a General Ledger. For information on setting up the GL via the Gotransverse 2.0 UI, please see Setting Up the GL in Gotransverse UI.
General Ledger: a grouping of General Ledger (GL) Accounts that are used to sort and store information from a company's business transactions. Gotransverse’s General Ledger is a powerful solution for natively creating journal entries for Accounts Receivable transactions .
GL Account: a base entity for sorting and storing transactions. GL Accounts need to be associated with a Chart of Accounts in order to be used to create transactions for a General Ledger.
GL Account Category: provides structure for reporting of General Ledger accounts. GL Account Categories need to be associated with a Chart of Accounts in order to be used for reporting.
Chart of Accounts: a group of GL Accounts that are assigned to a General Ledger. In order to be set to Active, a General Ledger needs to be associated with a Chart of Accounts.
Charge Information Record: a representation of Gotransverse activity created by a series of queries (Collectors).
GL Posting Rule: used to evaluate Charge Information Records based on parameters defined in the GL Posting Rule to create GL transactions.
GL Posting Rule Sets: a group of GL Rules that are assigned to a General Ledger.
General Ledger Setup
To create an active General Ledger, at a minimum you need to define GL Accounts, a Chart of Accounts, GL Posting Rules, a GL Posting Rule Set, and a Run Mode Actuals. Let’s set up and use the General Ledger following these steps:
- Creating a GL Account, Account Category, Chart of Accounts. Assigning GL Accounts and Account Categories to Chart of Accounts.
- Creating a GL Posting Rule and Rule Set. Assigning GL Posting Rules to the Rule Set.
- Creating Run Modes.
- Creating a General Ledger.
- Adding an Accounting year with periods.
- Running the General Ledger.
- Using the General Ledger.