General Ledger: Account Options |
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SI+ is designed to do the necessary processing in the background. To facilitate this, a number of default accounts such as control accounts must be defined.
Go to Ledger > Account Options
General Ledger Account Options
SI+ automates accounting processes by handling necessary background processing. To ensure smooth operation, certain default accounts, such as control accounts, must be set up correctly.
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General Ledger Defaults - Restrictions & Options
1. General Ledger Defaults - Restrictions & Options
Restrictions tab
Set Date Ranges for Posting
•Not allowed to post before this date → Prevents users from posting transactions before a specified date.
•Not allowed to post after this date → Prevents users from posting transactions beyond a set date.
➢Use case: Ensures financial entries remain within an approved accounting period.
Default Branch Selection
•Set a default branch for transactions.
•Additional branches can be added or modified under Company Add or Edit Branches
➢Use case: Helpful for multi-branch businesses to track financial data accurately.
2. General Ledger Account Restrictions
Restrict GL Accounts in Cash Journal
•If restrictions are enabled:
•Payments: Income accounts will not be displayed.
•Deposits: Expense accounts will not be displayed.
•Assets, Liabilities, and Equity accounts will always be visible.
➢Use case: Prevents accidental postings to incorrect accounts.
3. Bank Manager Settings
Automatically Fill New Matches
•If enabled, SI+ will attempt to auto-match bank transactions based on past data.
Existing GL Entry - Day Range Around Transaction to Show
•Define the acceptable range of days for a transaction match.
•Example: If set to 3 days, a bank statement transaction dated 17/12/2024 will match any GL entry between 14/12/2024 and 20/12/2024.
➢Use case: Ensures bank reconciliations capture transactions even if there is a slight timing difference between the actual transaction and bank processing dates.
For more detail go to the Bank Manager module.