What is Ledger Cleardown?

Ledger Cleardown (LCL) is a process which enables you to remove historical or redundant transactions from your business unit ledger and replace them with summarized balance transactions. You are not obliged to perform a ledger cleardown. However, it should be considered, as it leaves you with a more compact, and easily managed system.

Ledger Cleardown attempts to compress the ledger, so although individual transactions are removed, summary or balance transactions are maintained for reporting purposes. The transactions for an account code are summarized by period, analysis code, currency code and other details.

You can use Ledger Cleardown to perform either a period cleardown or a year cleardown by selecting the appropriate processing option. The period cleardown accumulates transactions on a period by period basis. The year cleardown summarizes the transactions for the financial year and posts the balances to the final period of the year.

Ledger Cleardown can also use the transactions posted to assets to recalculate each asset's gross, net and depreciation values.

Archiving Transactions

Ledger Setup (LES) offers you the option to remove cleared transactions to an archive file, rather than deleting them.