Steps to Setting Up General Ledger| Sage 300

 
In this tutorial, we will learn about how to do set up of general ledger because Use of General Ledger Setup screens to set up accounts, options and all security authorizations that determine how General Ledger process transactions and interacts with all other Sage 300 ERP modules.

About Setting Up General Ledger

After installation, you take the following general steps to set up General
Ledger.
 
1. Activate General Ledger for Your Database
This step add all the database tables required by the General Ledger application. Click on the Data Activation icon present in the Administrative Services folder to start the activation.

Activation requires the following information:

  • The current tax year.
  • The starting date of the old tax year in which you want to keep data.

Note:

Make sure you enter the starting date for the first period in your tax year.General Ledger creates a calendar for the year before the oldest year you specify, so you can post the opening entries for the old tax year.

 
2. Select Configuration and Processing Options
Decide on the options that you want and include whether to use the sample chart of accounts shipped with General record book, whether to use various account groups, how many account segments to be used, what account segments to be used, whether to print batches before posting it and whether to allow posting to prior years.
 
Use the following screens in the G/L Setup folder to select options and
 
configure General Ledger:

  • First, use the G/L Options screen to select all basic processing options and
    define all the segments used in your General record book account numbers.
  • Next, use the Segment Codes screen and then the Account Structure
    screens to define a structure for chart of various accounts.

Note:

After adding segment codes and account structure codes, open the G/L Options screen again to specify the default structure code on the Segments tab.

 

  • Use various Source Codes and Source Journal Profiles screens to define source
    codes and reports for sorting and printing the details of posted transactions.
  • Use the Account Groups screen to assign accounts to all groups.
  • Use the remaining icons to set up recurring entries, revaluation codes, and
    optional fields.

 
3. Add Accounts
Add general record book accounts using the Accounts screen in the G/L Accounts
folder.
 
4. Add Historical Data
In General record book, you have to enter at least the year-to-date balances in each
of your ledger accounts.

Kristin is a content strategist at Techarex Networks. Kristin follows the B2B technology space closely and loves to write on the latest changes in technology, futuretech and fixes for day to day how to issues. Besides writing Kristin also loves music, moves and skating.