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Ledger Accounting Key Concepts |
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Sun Documentation -
General Ledger
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Page 1 of 2 SunSystems comprises two suites of modules: SunSystems Financials modules: - Ledger Accounting
Fixed Assets Corporate Allocations
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SunSystems Order Fulfilment modules:
Sales Management Purchase Management Inventory Control
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Within Financials there is complete integration of the modules. Within Order Fulfilment each of the modules can operate independently. There is an import routine in order to transfer data from Order Fulfilment to Financials. A Sun business unit consists of the following objects: - Actual results ledger or general ledger (has A code)
- Additional budget ledgers that can have codes from B to K
- Hold Table to store your held journals
- Reference data such as: chart of accounts, currencies and so on
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Ledger Accounting is the core module in which the chart of accounts is created, all accounting entries are made and from which statutory and management reports are produced.
What are the differences between Sun and traditional modular accounting system? The traditional arrangement of modules in other accounting systems: The Nominal Ledger is at the centre. All other modules (i.e. Sales & Purchase) are subsidiary to the Nominal. Users choose the module they wish to work on from the main menu. Users select from a series of submenus the task (e.g. Invoice posting) they want to carry out. Regular routines are run to update the Nominal Ledger with postings made in the subsidiary ledgers. Statutory & management reports are produced from the Nominal Ledger. Sales & Purchase Ledgers maintain the individual balances on Debtors & Creditors accounts respectively - these balances must be reconciled to control accounts in the Nominal.
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Balance Sheet A/Cs
Account Type =
Balance Sheet
| Profit & Loss A/Cs
Account Type =
P&L
| Debtors’ A/Cs
Account Type =
Debtor
| Creditors’ A/Cs
Account Type =
Creditor
| Clients’ A/Cs
Account Type =
Client
| Memo A/Cs
Account Type =
Memo
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- One ledger combines all of the functions of all of the ledgers in the modular system.
There are no subsidiary ledgers in SunSystems. All accounts reside in the ledger - distinguished by type (i.e. Creditor, Debtor, Client, Balance Sheet, P&L Memo). Balance Sheet accounts are grouped together and Profit & Loss accounts are grouped together to make subsequent reporting easier. Control accounts (within the Nominal) for Sales & Purchase Ledgers are replaced by the individual Debtor & Creditor accounts - no reconciliation’s are required. Memo accounts do not form part of the Trial Balance and may be used to hold statistical data. All postings are made in real time - no batch updates. All information is immediately available for enquiry & reporting.
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Sun Documentation 
