The Journal Report is a flexible and option-rich report that can be run by transaction date or by entry date.
To run the Journal Report by Entry Date
General Ledger’s Import Bank Transactions feature uses financial files in multiple formats (.OFX, .QBO, or .QFX) to help clear your bank transactions. This allows you to match up journal entries that are already in the system against the ones in the file.
To import bank transactions
To match imported transactions to journal entries
When you start your reconciliation, all cleared entries will be selected, cutting down the amount of time that the reconciliation takes.
Once you are certain that no additional changes will be needed, you can update the Date through which books are closed setting. Once this value is updated, no additional changes can be made prior to the specified date.
To change the Date through which books are closed
Note: No user, regardless of assigned access profile or manager status, can make changes prior to the specified Date through which books are closed.
GL has the ability to set an additional account order in your Chart of Accounts, specifically for this purpose. This can be particularly useful when you need to subtotal accounts in more than one way.
To print reports using an alternate account order, you must enable the use of an alternate account order, and then specify the order in the Chart of Accounts.
To enable the use of an alternate account order
To set up an alternate account order
Once defined, reports can be run using the alternate account order by selecting the Use Alternate Account Order check box on the Account tab of many GL reports.
General Ledger allows you to specify the starting month of your fiscal year. This option is reflected in reports and Account Information windows, and can be changed at any time.
To specify a new Beginning Fiscal Month
General Ledger has a Statement of Cash Flows Report that allows you to see how changes in Balance Sheet and Income Statement accounts affect the firm’s cash flow.
To run the Statement of Cash Flows report
Tip: If you preview the report, you can click on any of the displayed accounts to access the Account Information window, where you can access additional information.
If any account is printing in the incorrect section, you may need to designate it as Operating, Investing, or Financing.
To designate an account as Operating, Investing, or Financing
This can be accomplished by running the Renumber GLS Account utility. All associated journal entries, deposit slips, and recurring entries are also renumbered.
To renumber an account
Note: Renumbering an account in GL will automatically update the references to that account in Tabs3 Billing, AP, and Trust integration settings. However, GL report definitions and GL Report Writer reports that use the Old Account Number will not be updated to use the New Account number.
Your books can be closed as of a certain date. Once closed, no edits can be made to journal entries through the date selected.
To change the date through which books are closed
A Journal Entry List by Transaction Report will contain all the activity for a specific transaction. This report can then be printed or saved to a file.
To generate a Journal Entry List by Transaction Report
General Ledger provides the ability to apply password protection to the reconciliation report PDF files to help keep the firm’s financial information protected both inside and outside the software.
To specify a password for a bank account’s reconciliation report PDFs
Future reconciliation reports will now require a password to be entered in order to open.
When creating a new GLS Client, General Ledger will prompt you to copy an existing chart of accounts from another client.
To create a new GLS Client
The duplicate account can be deleted or marked as inactive in order to keep the account for historical reasons. When an account is marked as inactive, journal entries cannot be manually added to the account.
To mark an account as inactive
If you want to delete the account, there are a few steps that must be completed before deletion is possible.
Before an account can be deleted from the chart of accounts
To delete an account from the chart of accounts