Module 12 of 13 · M112
Integrated General Ledger
Where all thirteen modules land
The accounting heart of the system: the chart of accounts, journal and standing-order vouchers, accounting periods, opening balances and period close. Every module posts here; the business keeps one set of books.
Grouped as Entries
- Definitions
- 11
- Transactions
- 3
- Periodic Processes
- 5
- Enquiries
- 4
- Reports
- 7
Total 30
Counted from the application’s own menu.
Screenshot reserved Journal Voucher — Integrated General Ledger
The inventory
What this module holds
Every module in Magnet ERP files its screens under the same five headings — Definitions hold the reference data the module works from, Transactions are the entries staff make day to day, Periodic Processes are the runs made at the turn of a period, Enquiries look up what is on record, and Reports print it — so a clerk who has learnt one module already knows where to look in the next.
Integrated General Ledger carries 30 entries across 5 of those headings. What follows is the module’s own menu, entry for entry, in the order the application lists it.
One thing to read the list with: a posted entry is never overwritten. A document is corrected while it is still unverified; once it has been endorsed it can only be undone by a reversal, and the reversal is a dated record of its own. That is why Integrated General Ledger carries one reverse entry below. Every module, this one included, opens with its Endorsement Officers for the same reason: someone named has to stand behind what is posted. That is what makes the books defensible when somebody comes to audit them.
Definitions 11
- Endorsement Officers
- Chart of Account
- Projects
- Accounting Periods
- Task Codes
- Date Events
- Standard System Operations Setups
- Build Balance Sheet Report Chart
- Build Profit & Loss Report Chart
- Define Account Groups
- Setup Account Groups Members
Transactions 3
- Journal Voucher
- Standing Order Voucher
- Reverse Journal Voucher
Periodic Processes 5
- Generate & Post Accounts Opening Balance
- Age Out Transactions
- Modify Journal Vouchers
- Verify Transactions
- Close P&L Books for the Period
Enquiries 4
- Journal Voucher Master Records
- Standing Orders Voucher Records
- Registered Accounts
- Opening Balances
Reports 7
- Standard GL Reports
- GL Transactions Reports
- GL Accounts Report
- Journal Voucher Reports
- Auto Transactions Audit Report
- Accounting Schedules for Export
- Groups & All Accounts Report
Worth naming
What a feature list would not tell you
The system produces a VAT return from the ledger, so the figure filed is the figure posted rather than one rebuilt in a spreadsheet.
One set of books
Where every module meets the ledger
This is the module the others report into. The chart of accounts, the journal and standing-order vouchers, the accounting periods, the opening balances and the period close all sit here, and so does the arithmetic that has to agree. Every module posts here; the business keeps one set of books.
That single set of books is also where the project claim is settled. MagnetERP is called an Enterprise Projects Business Solution because every transaction can be linked to a registered chart of projects or to project-milestone codes — contract job batches, production job batches and procurement job batches. That applies to the entries this module makes as much as to any other.
Every transaction keeps its own currency and its exchange rate to the base currency. And because one organisation may run several companies in Magnet ERP, each company’s records are kept properly separate: a figure posted in one is never quietly counted in another.