Page 12 - Participant Guide ebook - Unanet GovCon Using General Ledger

GL Administrative Configuration (Setup)

Navigate: Admin > Setup > Accounting

Fiscal Years - The setup enforces the fiscal years and periods of a company’s
financial calendar. Fiscal Years must be established before any transactions can be
generated. If applicable, configure Fiscal Years for as far back in time as you plan to
load any historical data and as far in the future to capture the useful life of Fixed Assets.
Fiscal Years will need to be defined in Unanet for reporting, financial documents,
postings, and assigning/planning

Note: Unanet utilizes the Government Fiscal Year which starts in October (FYxx-01)
and ends in September (FYxx-12).

Accounts - The Chart of Accounts provide a mechanism to classify General Ledger
transactions as assets, liabilities, revenues, and expenses for financial statements. The
Account setup screen is used to determine whether the account is available for
transaction entry (or otherwise be available for rollup), limit the date range to allow
transaction entry, and specify whether project designation is required when charging to
an account. Accounts can also be limited for use with selected Organizations (i.e.,
balance sheet accounts limited for use with a single company-level organization or
marketing expenses restricted for use with marketing departments).

When setting up the Chart of Accounts, consider the desired Financial statement
format. Parent/child hierarchal relationships defined on the Account profile will
determine the structure and format of the financial statements (also Cost Pools). In
order to view the account structure, use the Account Tree Views Reference Report and
select Financial (or Cost Pool) Hierarchy.

Navigate: Reports > Reference > Financials > Account Tree Views > Financial Hierarchy

LESSON 1: GENERAL LEDGER (GL)
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