General ledger Overview

The General ledger module allows you to manage your chart of accounts, post journals to your general ledger accounts and produce financial reports. Use the General ledger windows to:

• Create accounts. Each account can have up to ten available budgets and three assigned budget amounts recorded for each month of the year. Usually one budget amount is used as the working budget. The working budget is copied to the approved budget once it is passed by the council. You can make changes to the working budget during the year whenever required. See:
  • Introduction to the general ledger.
  • Maintaining general ledger accounts.
  • Renaming accounts.
  • Maintaining general ledger divisions.
  • Creating the next general ledger year (Next Year Process).
  • Importing general ledger budgets.
• Create account codes. General ledger account codes are up to 15 characters long, and can contain any combination of number, letters and dashes or period symbols. See General ledger codes.

Many organisations use a combination of the chart of accounts code (to designate an income, expense, asset or liability) and a cost centre code (to record which area of the organisation is responsible for the financial transaction).
Synergetic provides a chart of accounts and Cost Centre Maintenance facility that automatically creates the appropriate general ledger codes required. See:

• • Maintaining the general ledger chart of accounts.
  • Maintaining general ledger cost centres.
• Record cost centres against general ledger codes. You can record a cost centre against any general ledger code. The code is used in Synergetic as the basis of departmental recording facilities.
• Post to general ledger account codes and sub-allocations. You can set up sub-allocations against any account code. See:
  • Maintaining general ledger sub-allocations.
  • Entering general ledger journals.

You can use one sub-allocation code across more than one account code if required. Use the sub-allocation code to:

• • group items together in a report
  • record expenses or income for one-off events such as excursions
  • group together expense items for a particular project in the organisation.

Sub-allocations do not have a budget associated with them.

• Create trial balances, profit and loss statements and other financial reports. See:
  • Bank reconciliation.
  • Closing off periods.
  • Running General Ledger Crystal Reports.
• Monitor general ledger data. See Monitoring general ledger data using Power BI Dashboards.