Initial Setup procedures are designed to establish master file records and to facilitate transfer of existing records to General Ledger.
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Step 1: File Maintenance
From the General Ledger Main menu located on the Maintenance pull down menu, select the desired file maintenance data entry program.
Setup master files:
- Parameters (Required)
- Chart of Accounts (Required)
- Define Types (Optional – Used for Budgets and Units)
- Setup Summary Accounts (Optional)
- Setup Allocation Accounts (Optional)
- Setup Budgets (Optional)
- Setup Recurring Accounts (Optional)
Files marked as ‘Required’ must be established during Initial Setup. The remaining files can be set up now or during Live Operations. The optional files only need to be set up if they apply to your company.
Step 2 : Opening Entries
Once you have completed entering your chart of accounts. You must run Create Balance Records. This function can be found under Processing on the Opening Entries pull down menu. Create the necessary balance records for the current fiscal year, plus as many prior years as you wish to keep for history. Then, as discussed in Establishing a Transition Date, you may opt to use Open Entries functions to establish the balances in each account. If so, print the Trail Balance and Account Balances History reports to verify the information you entered.
Step 3 : Process Initial Setup
When you have finished the previous steps, your are ready to run Process Initial Setup (found under Processing on the Opening Entries pull down menu). Here the system checks that the required records have been entered properly and creates an error log if any errors are found. In that case, you should correct the error(s), reprint and review the appropriate Initial Setup reports, and then run Process Initial Setup again.
Step 4 : End Initial Setup
The final step in Initial Setup for General Ledger is End Initial Setup (found under Processing on the Opening Entries pull down menu). It can only be run after Process Initial Setup has been completed with no errors. Once Initial setup has ended, the system begins Live Operations for this application (TGL).