Page 8 - Participant Guide ebook - Unanet GovCon Using General Ledger

General Ledger Posting Processes

The General Ledger represents the record-keeping system for a company’s financial
data. It provides a record of each financial transaction that takes place and holds
account information that is needed to prepare financial statements and reports.

To fully use the Financials functionality in Unanet, transactions must be posted to the
General Ledger in order to maintain the books (a record of all transactions and their
associated accounts) and provide accurate financial reporting for a specific Fiscal
Period. There are two main components needed in order for a transaction to be posted
to the General Ledger, Organizations and Accounts. The Transaction Entry Allowed
Feature must be selected on both the Profiles for Organization and Account to post
transactions to the General Ledger.

Unanet uses a function called Posting Groups as the command center, which directs
the system to the appropriate Organization and Accounts that have been set up to be
used in the posting process.

Configuration

The Unanet role of GL Admin can add and modify:
• Organizations
• Admin Setup
o Accounts
o Fiscal Years
o Budget Names
o Budget Profile
Many more… (see Appendix B)
• Fixed Asset Setup for Statuses and Classes

LESSON 1: GENERAL LEDGER (GL)
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