General Ledger Overview	

	The General Ledger is the heart of of your accounting system.

	Your chart of accounts is maintained here. A detailed record
	of the next, current and 12 prior months transactions are kept.

	Balances for 14 periods are available for viewing and printing
	financial statements. Budgeting capability may optionally be used.

	The accounting date does not have to be the same as the actual
	(computer) date, but usually is, unless entering data at initial
	installation for prior months.

	However, the accounting date should always correspond to the
	current accounting month that is open. The system reminds
	you if it gets out of sysc.

			   Posting Capabilities

	While in this G/L section, postings are performed using
	the Journal Entries option. J/E's may be posted to:
		the Current, Next, or Previous Month,
	 	to ANY prior month of the current fiscal year,
			       and
	to the Last Month of the previous fiscal year after closing
			       and
	to any month of the previous fiscal year if in month 1
	of the new year.

		Posting from other App's (A/P, P/R, etc)
  
	Posting from other applcations is usually done to the
	Current period (month), but may be done to the Previous (last month)
	or to the next month. The choices are options selected
	at the time transactions are processsed in these other
	applications, such as entering A/P invoices, printing
	checks, and so on.  

			Monthly Closing Options

	Usually, you will close the accounting month in sync with
	the real time date. This would be the usual procedure if 
	for instance you are on a network and several users must 
	work on a real time basis entering sales orders as they
	come in. You could close the month on time, and then enter
	other transactions for the old month (posting to previous)
	such as vendor invoices, and customer payments that hadn't 
	been posted yet. 

			Closing the Fiscal Year

	The recommended procedure is to close the last month of the
	year as usual, and immediately start the new year's work.
	The Year End Close (does Closing entries to Income/Expense
	accounts) is usually performed just prior to closing the 
	first month of the new fiscal year.

	During the First month of the new year, two important 
	procedures may be performed if needed, that CANNOT be 
	done later. They are:
	1. Journal Entries may be posted to ANY month of the old year.
	2. A report of ALL the G/L transaction detail posted for 
	    the old year by account number may be printed.	   

	During the FIRST month of the new year (old year still open),
	you may post to the previous month (last month of old year)
	from ANY application if needed.

		If You Don't Close the Year on time..

	NO BIG DEAL!!! If the old year is not closed before closing
	the first month of the new year, the only ramification is 
	that until the old year is closed, the financial statement
	YTD will include the old year. Once the old year is closed
	the financials for any month of the new year may be re-run.

	Also, once the old year is closed, you may still post J/E
	to the Last Month of the old year, ANYTIME during the first
	11 months of the new year. Handy for posting the year end 
	adjustments that takes your accountant 3 months to get 
	back to you.