General Ledger Overview
This module enables you to track actual financial data and budget in order to produce the financial statements.
In a manual accounting system, the journal entries are prepared first and then transferred to general ledger at some later period. It may be a tedious and time-consuming process for companies with numerous business transactions. A computerized accounting system as SmartBooks, on the other hand, is more fast and more accurate. Once enough information is provided and the journal entry is correctly recorded, SmartBooks automatically posts it to the relevant accounts in the general ledger and thus increases the efficiency in terms of speed and accuracy.
General Ledger (abbreviation as GL) is the key task among any types of tasks performed in this software. All transactions that the user input into receivables account, payables account, fixed assets will proceeding record into the general ledger (as a progressive record book). From this program, the user can set up, enter the information of an account, finalize for further transfer and state into a financial statement
Right from the menu, the GL can be divided into 5 sections: Set up, Input, Process, Inquiry, Reports
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