General Ledger

The General Ledger is the central part of Infor LN Financials and accounts for all transactions in the application that impact accounting.

  • Dimensions

    You can independently define dimensions and use them to prepare analyses of ledger account transactions and balances. You can use up to 12 dimension types. You can define a name and an entire structure of dimension codes for each of these dimension types. There is no relationship between the dimension types. Dimension types and codes can be derived from logistic code tables.

  • Cross validation rules

    Cross Validation Rules (CVR) functionality allows you to indicate which combinations of GL accounts and dimensional values are valid. Cross validation rules help to reduce data entry errors, enforce segregation of duties, and improve reporting accuracy.

  • Periods

    Three financial period types exist: Fiscal, Reporting, and Tax.

  • Transaction types

    You enter transactions based on transaction types. The transaction types are grouped by transaction category.

  • Transaction entry defaults

    Transaction entry default values set authorizations and provide quick access to transactions types for each user.

  • Transaction templates

    To distribute a transaction across a number of ledger accounts and dimensions, you can use a transaction template. For each transaction template, you can define one or more transaction template lines to specify the distribution of the main transaction amount across a number of ledger accounts and dimensions.

  • Automatic transactions

    When a transaction that matches a specified transaction type and ledger account in the master data is finalized, LN generates parallel transaction lines. The amounts will be posted to the specified ledger accounts according to the specified percentages.

  • Account matching

    You can match credit and debit entries of multiple transactions on the same ledger account with each other. A matching transaction can be generated to post differences that are within the specified tolerances.

  • Cash flow statements

    A cash flow statement provides information about the history of the cash flow. The statement provides an overview of the sources and uses for cash, and is used to assess the ability of the company to meet its short-term obligations. In some countries, a cash flow statement must be submitted periodically to authorities.

  • Financial integrations

    In an integrated ERP system, most of the financial postings result from logistic transactions. For example, a warehouse issue is an operational transaction that requires financial postings. For each transaction that must be reflected in Financials, LN generates an integration transaction.

  • Financial reconciliation

    In addition to general financial analysis of reconciliation areas such as inventory and interim sales, you can perform reconciliation and financial analysis of the Goods Received not Invoiced (GRNI).

  • Journal import

    You can import journal transactions into LN from an outside source.

  • Recurring journals

    Recurring journal transactions are journal transactions that LN can generate periodically, based on the transaction details and templates that you set up in the recurring journal master data.

  • Reverse entry

    You can create transactions to reverse already posted transactions. You can also create additional transactions to correct the transactions you reverse. In the reverse document, you can change the amounts or switch the debit and credit signs.

  • Intercompany transactions

    In a multicompany environment, transactions between the logistic companies and between financial companies create the need to balance the accounts through intercompany transactions.

  • Intergroup transactions

    General Ledger transactions can also occur between groups of financial companies that have separate chart of accounts, calendars, and so on, but are affiliated in a multicompany structure.

  • Year end process

    You use the year-end procedure to move the closing balances from one year to the opening balances for the next year. If the books are not final and you require the opening balances for the next year, you can run a provisional year-closing procedure.

  • Dimensions in Intergroup Transactions

    The dimensions can be specified manually or populated automatically through Integration transactions. The user can manually specify the dimensions using manual journal voucher. The dimensions can be populated automatically with the segment value of the source transaction (that is the credit side of the integration transaction).

  • Consecutive numbering (gapless numbering)

    In a number of countries, journal voucher numbers must be consecutive for each month or year. You are not allowed to have gaps between a given number and the next number. The application includes Protocol Codes and Number functionality which has been enhanced to support different formats and numbering methods.

  • BOD Import Journals

    The functionality is extended so that external journal batches can now be modified, based on the Authorized User for External Journals in the Finance Company Parameters (tfgld0503m000) session.

  • Split Payment (Italy)

    In Italy, when the customer is a public sector company the tax liability shifts to the customer. The tax component paid by customer directly to tax authority must not be included in the receivables. The Vat Book reports must display the sales tax amount, as not payable. The Shifted sales tax must be handled as non-deductible for VAT book & VAT liquidation report. The Accounts receivable created directly from finance must allow shifted tax codes for domestic sales transactions.

  • Print Integration Transactions

    The integration transaction can now be printed in the home currency.

  • VAT Correction

    The application can uniquely identify and report the VAT corrections. The VAT corrections must be distinguished in the VAT Report.

  • Accounting Book (Poland)

    The legal regulations binding in Poland require that accounting books be periodically printed and/or transferred into another durable storage medium by a company. According to Art. 13.1 of the Accountancy Act, accounting books consist of sets of accounting records and constitute the following

    • Journal report (Main Journal)
    • Printout of transactions grouped by ledger accounts
    • Trial balance
    • Trail balances of auxiliary book accounts
    • Auxiliary book accounts
    • Valuation of foreign currencies
    • Interest notes
    • Fixed Assets
    • Bank Files.

  • Taxonomy

    Flexible reporting structures, or taxonomies can be created in the general ledger. The closed taxonomy can be archived or deleted.

  • VAT Date

    In the Czech and Slovak Republic, companies are obliged to add additional VAT information to purchase invoices, bank transactions and journals for the purpose of VAT reporting.

  • Bad Debt Relief and Bad Debt Recovery

    The Bad Debt Reliefs and Bad Debt Recoveries on receivables and payables can be now processed easily & consistently. The necessary distinctive journals related to relief and recovery can be processed in the General Ledger.

  • Display separate tax codes

    Dedicated purchase and/or sales tax codes that are used for purchase and/or sales transactions can be specified.

  • Write off non-recoverable debts

    For business purposes, a debt is regarded as bad when the decision has been made that it is non-recoverable. This decision is usually arrived at when all reasonable efforts have been made to collect the debt in question, without success, and the supplier is in a position to reduce the amount of debts by indicating it as such in the system. It is necessary to write off a bad debt when the related customer invoice is considered to be uncollectible.

  • GL Diagnostics Workbench

    GL Diagnostics Workbench is used to monitor the general ledger on a daily basis to improve reporting processes. Using this workbench, issues, exceptions and errors regarding transactions in the general ledger can be detected and solved upfront.

  • Exclude transaction types from Workflow

    If workflow is enabled for manual Journals or Purchase Invoices., specific transactions types are excluded from workflow.

  • Year/Period session

    Year can be defined to make it easier for the user to create and maintain the financial periods and update the statuses of these periods.

  • Local.ly eAccounting (LEA) Adoption - Mexico

    In Mexico, a taxpayers must submit La Contabilidad Electrónica (electronic accounting) through the Tax Mailbox portal provided by the Mexican Fiscal Authority. For this purpose LN is integrated with Local.ly eAccounting (LEA) . LN generates the different files in csv format, which must be placed outside of the ERP system. LN also generates the query mapping XML file (querys.xml), which provides the link between the file/fields in the ERP database (in the csv file) and the eAccounting database.

  • Sort by Print Sequence for Ledger History

    The ledger history can be sorted sorting based on 'Print Sequence'.

  • VAT Export Date

    LN is enhanced to block export based tax transactions or correction invoices until proof can be provided that export is tax exempt or zero rated. When the evidence of export is available or corrections are made, proof and correction information (custom document number, export date, etcetera) can be added to the regarding tax transactions and can be unblocked for reporting.

  • Mapping Scheme Improvements

    Mapping Scheme functionality is improved to simplify its setup, visibility and use.

  • Block registration of Purchase Invoices in incorrect tax period

    'Purchase invoices (with tax related transactions) for which invoice date is after tax period are not allowed.

  • Project Cost Distribution

    Project cost distribution is used to import the project transactions for more than one project through an upload of ledger transactions (so in combination with project transactions) a new parameter (a group box named Project Cost Entry View) is added in the Transaction Types session.

  • Import External Journals

    To enable a more user friendly and flexible way to import of Journal vouchers via excel or exchange. It is now possible to import a journal where some references like ledger account, business partner or tax code do not exist. A new Import Journal Workbench (tfgld2616m000) session is created to allow the user to import journal vouchers using excel and to check, modify and post journal vouchers that have been imported via excel or exchange.

  • Currency Differences Target Account

    Ability to post currency differences calculated on monetary accounts to more than one set of gain and loss accounts using Target Account Groups. A group can be linked to multiple monetary accounts thus resulting into the gain or loss being posted to the respective ledger account of the linked Target Account Group.

  • Multi-Functional Currencies on Journal Vouchers

    In multi-currency environments, correction transactions are needed where the spot rate to be used for the translation to local, reporting1 and reporting2 is not the rate at journal voucher creation. You can correct the amounts in not only the local currency, but also to the other functional currencies. The new transaction type subcategory Multi-Functional Currencies Journal is added to allow maintaining amounts in transaction currency and the home currencies.

  • Automatic Balancing of Close Year

    A new method for year closure Individual Accounts with Closing Balance has been added. This method generates journal vouchers for:
    • Close P&L
    • Closing of P&L Account
    • Closing of Balance Sheet
    • Result of Previous Year

    It is no longer required to use Dimension Accounting on Retained Earnings when Segment Accounting is implemented. In this case, only the segmented dimensions are posted.

  • Display of non-Finalized and Finalized Transactions

    For analysis purposes, it is now possible to view the Non-Finalized- and Finalized Transactions in a list window. Different view options have been added to provide more insight into these transactions.

  • Report Contra Account

    Contra accounts for a general ledger transaction can be reported in several print and display sessions. However, if a document includes several document lines, all the other accounts used in these lines are reported as the contra accounts of a selected line. With the new functionality, only one contra account is determined for each journal transaction line that is generated.

    In the Document History-Transaction Lines (Finalized & Non-Finalized) session, the contra account is now displayed. Optionally, authorized users can modify the contra account.

    For manual transactions in a journal voucher, the contra account can now be specified. This new functionality applies to the Journal Voucher Document session and to Recurring Journals, Transaction Schedules and the Imported Journal Workbench.

  • Detailed Cash Flow Statement

    A report of the cash transactions history in a financial period. The report provides an overview of the sources and uses for cash. The cash flow statement is used by shareholders, accounting department staff, potential investors, potential lenders and banks.

    Project oriented organizations not only want to view the cash flows by operating, investing, and financing activities, but also want to relate their cash flows to projects, as the projects are the main drivers for cash in and cash out. Other companies may be more interested in cash flow information by sales area or other dimensions. For this purpose, the new master data session Cash Flow Information Structure (tfgld2560m000) is introduced with a parent/child reporting structure that uses Cash Flow Information Codes. These codes are linked to ledger accounts through a new field in the existing Chart of Accounts (tfgld0508m000) session.

    A new field Exclude from Cash Forecast is added to the Transaction Types (tfgld0511m000) session that allows excluding the transactions of a specified cash transaction type from being used for the detailed cash flow information.

    The Generate Detailed Cash Flow Information (tfgld2261m000) session is introduced to generate detailed cash flow information based on the finalized cash transactions of a cash account. Only the cash accounts of included transaction types are used.

    The generated detailed cash flow information is displayed in the new Detailed Cash Flow Information (tfgld2561m000) session.

    Also, the Print Summarized Cash Flow Information (tfgld2461m000) session is added to print summarized cash flow information.

  • Print Tax Declaration Invoices Check List

    At the end of each tax period, a company is obliged by the tax authority to submit the tax declaration. The data on the declaration must be correct. If the declaration is incorrect, the company can run into extra costs due to penalties and be subject to additional tax audits. Therefore, to ensure that the tax declaration is in accordance with the tax regulations, the accountant verifies the data on the declaration with the data available in the financial application.

    The Print Tax Declaration Checklist (tfgld1410m100) session is introduced. This session compares the data in the tax declaration lines with the data in the tax analysis for the transactions within the selected range. The result of this analysis is printed on the Tax Declaration Checklist. Depending on the setting of the Print Differences Only option, all lines are printed, or only the lines where the tax declaration cannot be reconciled with the tax analysis.

  • Automatic transaction enhancements

    The Automatic Transactions (tfgld0130s000) session has been enhanced to support these features:
    • In addition to the transaction type and ledger account, a Debit/Credit indicator is added to specify the source to generate the automatic transaction only when a debit or credit posting on the source ledger account is recorded.
    • The Specific Source Dimension Combination check box is added to indicate if you want to use a specific dimension combination to determine the source transaction. If this check box is selected, you can set up the applicable dimension combination.
    • You can insert a transaction type in the new Target Transaction Type field to generate transactions in another transaction type than the source transaction.
    • The Compress check box has been added to indicate if the generated transactions must be compressed.
    • For each dimension type on the debit line, the Copy All Debit Dimensions From Original Transaction check box has been added. For each dimension type on the credit line, the Copy All Credit Dimensions From Original Transactions check box has been added.

  • Reverse entry enhancements

    The Reverse Entry (tfgld1295m000) session has been enhanced to support these features:
    • The Create Reversal Document check box has been added to copy a journal voucher to a new one without generating a reversal transaction.
    • The Reverse with negative Amounts check box has been added to create the reversal document with negative amounts, if allowed by the transaction type, or with reversed debit/credit signs.
    • The Use original Rate check box has been added to use the original rates from the source transaction for the newly generated document.

  • Balance reference in reconciliation transactions

    The purpose of the Sort Position field in the Integration Transactions (tfgld4582m000) and Operations Management - Financial Reconciliation (tfgld4595m000) sessions is to sort the data. The field was also used as the basis for final acceptance for certain reconciliation groups, but this was not easy to understand.

    The Balance Reference field has now been added as the basis for reconciliation and final acceptance. This new field is filled when integration- and reconciliation transactions are logged for reconciliation groups that have the Basis for Final Acceptance field set to Business Object + Balance Reference. The values Business Object + Sort Position and Business Object + Business Object Reference have been expired for the Basis for Final Acceptance field.

    For existing data, the Balance Reference field must be updated to use it as the basis for reconciliation. The field must be updated before reconciliation data is accepted or currency differences are calculated. To update the existing data, the new Update Balance Reference (tfgld4295m800) session can be used.

  • Ledger account history by business partner

    The Rebuild Period Balances after Currency Initialization/Migration (tfgld3205m000) session has been enhanced. If you run the session with the new Only Ledger Account History by Business Partner check box selected, the ledger account history by business partner data is generated.

  • Postponement of background process

    The Activate Background Process field has been added to the Transaction Types (tfgld0511m000) session. The field can be set to these values:
    • Always (default value): when non-finalized transactions are created for the transaction type, the background process is always started.
    • Postpone: when non-finalized transactions are created for the transaction type, the background process is never started. Only during finalization, the background process is started.
    • Postpone when in Job Mode: When non-finalized transactions are created for the transaction type by a job, the background process is never started. Only during finalization, the background process is started. When non-finalized transactions are manually created for the transaction type, the background process is started.

  • Descriptive text in finalized transactions

    Previously, the Transaction Reference for cost transactions coming from integration transactions, was generated based on, among other things, order number and order line number. To comply with German requirements, these changes have been made as a generic solution:
    • The Post Integration Transactions (tfgld4282m000) session now generates a descriptive reference for the debit lines of certain cost transactions. The description of the cost item is now used for these integration document types:
      • Purchase Order / General Costs
      • Purchase Order / General Costs Variance
      • Purchase Schedule / General Costs
      • Purchase Schedule / General Costs Variance
      • If the integration document type is Freight Order / Freight Costs, the [Ship-from City]-[Ship-from Country] to [Ship-to City]-[Ship-to Country] are used.
    • To enable this functionality on financial company level, the Descriptive References For Purchase- and Freight Cost Lines field has been introduced in the Finance Company Parameters (tfgld0503m000) session. Additionally, an Option group has been added to the Concept Parameters tab in this session and the current concept parameters are stored under the appropriate group box, based on their functionality.

  • Multifunctional currencies on journal vouchers

    To support defaulting of amounts in home currencies, currency details have been added to the header of journal voucher documents.

    The functionality has been extended to also cater for tax transactions. The Tax Country, Tax Code and Tax Amount fields have been added to the document details. In the document header, a toggle option is available to view the totals either as a gross amount or a net amount, or only to view tax amount totals.

    The same functionality has also been added to the multifunctional currencies import journal.

  • Printing of unmatched transactions

    Account matching enables users to match debit and credit transactions on a specific ledger account. After matching, a report can now be printed that includes unmatched transactions for each end of a (back dated) financial period with a detailed specification of the balance for the matched account in that period. This report can be printed in the new Print Specification of Matching Account Balances (tfgld1450m100) session.

  • Reconciliation improvements

    To improve the reconciliation process, these new features have been implemented:
    • Deletion of integration elements by reconciliation group.
    • Initialization of Write Reconciliation Data for end accounts.
    • For most End Account reconciliation groups, Write Reconciliation Data is initialized with No. However, Write Reconciliation Data is still initialized with Yes for these accounts:
      • End accounts related to interim costs of Project, Service etc. For example, End Account 514.
      • End accounts related to general costs for Project or PCS Project, because these are mapped to Project WIP or PCS Project WIP
    • Specification of reconciliation settings by financial company.
    • In previous versions of LN CE, reconciliation settings could be specified on reconciliation group level in the Reconciliation Group (tcfin0620m000) session. Consequently, the settings were the same for all the financial companies.
      Now, these reconciliation settings can differ for the financial companies:
      • Reconciliation Elements
      • Write Reconciliation Data
      • Log All Reconciliation Elements
      • Automatically (Finally) Accept Reconciliation Data
      • Allow Corrections on (Finally) Accepted Reconciliation Data
      • Block Deleting of Business Objects of not Finally Accepted Transactions
      • Block Deleting of Finally Accepted Transactions of not Deleted Business Objects