Understand General ledger Module in D365 BC

Get to know GL today!!!! Use General ledger to define and manage the legal entity’s financial records. The general ledger is a register of debit and credit entries. These entries are classified using the accounts that are listed in a chart of accounts.Plan your chart of accountsMain account typesYou can allocate, or distribute, monetary amounts to one or more accounts or account and dimension combinations based on allocation rules. There are two types of allocations: fixed and variable. You can also settle transactions between ledger accounts and revalue currency amounts. At the end of a fiscal year, you must generate closing transactions and prepare your accounts for the next fiscal year. You can use the consolidation functionality to combine the financial results for several subsidiary legal entities into results for a single, consolidated organization. The subsidiaries can be in the same database or in separate databases.Consolidation and elimination overviewGeneral ledger account balancesFinancial dimensions Sales tax Every company collects and pays taxes to various tax authorities. The rules and rates vary by country/region, state, county, and city. In addition, the rules must be updated periodically when tax authorities change their requirements. Sales tax codes contain the basic information about how much you collect and pay to the authorities. When you set up sales tax codes, you…

Continue Reading Understand General ledger Module in D365 BC

End of content

No more pages to load