General Ledger Posting

The system uses the document principle as its reference for entering and posting business transactions. Each business transaction is stored as a document form within the system till it is archived.

The following common documents will be used within the General Ledger:

Posting adjustment entries, Banking and Cash Transactions

Provision Postings and Other G/L transactions.

The document header contains information that applies to the entire document, such as the document type, date and number. The document number will be assigned internally.

The line item only contains information, which is specific to that line item. It always has an amount and one account number. It may also contain other specifications, such as the terms of payment, a cost centre or an explanatory text, depending on the posted transaction. The posting of general ledger transactions shall be handled at all locations and at the corporate office.