4.7 Subledger

The granular level of data stored in the Subledger can be used to generate the accounting entries. It uses data along with implied allocations from expenses, taxes, investment income, and so on. The Subledger generates bookings and reports to feed out to general ledgers, management reporting, and analysis tools. By maintaining detailed data and handling complex calculations and reconciliations, it takes stress off general ledgers. Note that the application only picks up data from the base insurance scenario that is marked for reporting. This scenario is set on the Liability Calculation screen, for more information see the Create a Liability Calculation Definition section. The application also picks up more than one set of data per LOA for Subledger processing. This allows for GL consolidation, and cloud migration, and provides the accuracy and suitability of ledger data.

Subledger supports currency conversion. To enable or use this feature, the user must select the currency as reporting currency while creating the Subledger definition. Please note that the system should also have the currency rate for the currency conversion as per the fic_mis_date before calling the Subledger Run to add the journal balances as per the selected reporting currency.