General Ledger Setup

Important Note

The structure of the General Ledger in Moveware is extremely flexible and can accommodate a wide variety of company requirements. However, it is important to note that once the structure of the General Ledger is established, it is very difficult to change. Therefore, it is crucial that the structure has been carefully planned and approved before the actual setup process is started.

The General Ledger

Each account in the General Ledger is assigned a subcode according to the type, company, branch, and cost center.

Accounts are grouped by type. In addition, they can be a parent (a header) account or they can be listed under a parent account (up to 4 levels). This allows totals to be calculated for several accounts of the same type.

Some accounts are designated as Control or Linked Accounts and perform important functions within the system.

How to Set Up the General Ledger

1. Finalize the Chart of Accounts structure.

2. Configure General Ledger System Parameters.

3. Set up Financial Years and periods.

4. Enter General Ledger information for Company, Branch and Cost Centres.

5. Enter or import General Ledger subcodes.

6. Assign companies, branches, and cost centres to the subcodes as required.

7. Flag Control or Linked Accounts (e.g. Accounts Receivable, Accounts Payable, tax accounts and linked accounts).

8. Generate general ledger accounts from the subcodes. 

9. Enter account opening balances as required