How does the General Ledger application affect Invoice Matching?
Before you use the Invoice Matching application, become familiar with the General Ledger features in the table below. These features affect the Invoice Matching application. For more detailed information, please see the General Ledger User Guide.
| Feature | Definition | Effect on Invoice Matching |
|---|---|---|
| Chart of Accounts | A chart of accounts is a list of account you use to organize you accounting records. It is made up of balance sheet accounts (assets, liabilities, and equity) and income statement accounts (income and expenses). The balance sheet and income statement accounts are made up of detail (posting) and summary accounts. | All posting accounts used in Invoice Matching must be defined in General Ledger. |
| GL Company | The company is the highest organizational element in the General Ledger application. Normally the General Ledger company represents the same business entity as is represented by the Accounts Payable company, the Purchase Order company, and the Inventory Control company. |
You must define one General Ledger company. Consider the reporting needs of your central organizational structure when you define your General Ledger company. Normally, the General Ledger company, Accounts Payable company, Purchase Order company, and Invoice Matching company all represent the same business entity. If applicable, you can define intercompany relationships that allow transactions to pass between General Ledger companies. |
| Accounting Units |
Posting accounting units are the lowest level or organization in a general ledger company and are used to post journal entries. Summary accounting units are used to summarize the activity of lower level accounting units for consolidation and reporting. |
You can define posting and summary accounting units that represent departments, cost centers, or organizational levels within the Lawson applications and identify the structure responsible for payment. |
| Base Currency | The currency used for operational transactions. | You must select a base currency for your General Ledger company. |
| System Control | System control indicates how subsystem (in this case, Invoice Matching) interfaces with General Ledger. | If you are required to close a period in Accounts Payable before you close a period in General Ledger, then you must select that choice in system control. |
Planning General Ledger Setup for Invoice Matching
