Basic Business Needs
General Ledger provides you with the features you need to satisfy the following basic average balance needs:
- Use average balance processing only in those sets of books which require it.
- Maintain average balances for all balance sheet accounts automatically.
- Create and maintain a transaction calendar to ensure that all postings have effective dates which are valid business days.
- Ensure that input is balanced by effective date, as well as by period.
- Calculate average balances based on the effective date of transactions, not the posting or accounting date.
- Calculate period, quarter, and year averages-to-date based on the balances for each day within the period, quarter, or year.
- Calculate the impact of net income on the average balance for retained earnings.
- Retrieve average and ending balances for any effective date, via on-line inquiry and reports.
- Translate average balances from your functional currency into any foreign currency.
- Consolidate average balances from one accounting entity into another.
- Calculate allocations and other formula journals, using average balances as the basis.
- Archive and purge average and end-of-day balances, as well as actual journal batches, entries, lines, and associated journal references for one or more fiscal years.
See Also
Average Balance Examples
Major Features
Effective Date Handling
Set Up and Maintenance
Multi-Currency Processing
Consolidation
On-line Inquiry
Reporting
