Configuring a General Ledger

This document will guide administrators to perform the following actions: • Navigating to General Ledger page • Modifying display preferences • Configuring accounts for the General Ledger report • Downloading the finalized report for review

 

OVERVIEW

The General Ledger Configuration Tool enables administrators to configure accounts and associated transaction types (pay types, deductions, taxes) to create a custom General Ledger File.

For each account created, administrators can select an applicable GAAP (Generally Accepted Accounting Principles) categorization, add custom notes, and designate debit/credit entry types. The tool also allows users to customize the display of the General ledger. All updates made to the configuration are available in real-time by pulling the General Ledger Report in the Reports section of Namely Payroll.

Refer tot his video: Configuring a General Ledger

 

PREP: MODIFYING DISPLAY PREFERENCES

1. After logging into HCM, navigate to the Payroll portal. Click Company in the payroll portal and select General Ledger Configuration. In order to modify the report format preferences prior to configuration, select General Ledger Settings.

 

 

2. Next, configure the display of debit and credit columns. Selecting Two Columns will display debit amounts in one column and credit amounts in another. Selecting One Column will show positive and negative amounts in the same column for debit and credit. Click Save to finalize.

 

 

3. You have the option to add up to three custom columns in your report. In the Custom Fields section you can enter the name for each column. There is a 50 character maximum for each custom field. Once configured, this will display on your Add Account Page. The order in which the Custom Fields are created will be the order in which they are displayed on the report. 
    

 

Note: Once custom fields are added to the report, labels can be created for each field on a per-account basis. 

 

PROCESS: CONFIGURING ACCOUNTS

1. After returning to the General Ledger Configuration Page, select Add Account to begin General Ledger configuration.

2. Enter an Account Number and Account Name. There is a 50 character limit on each of these fields.

3. If Custom Fields are configured in the general ledger settings, notes may be added for each per account entered. In the example below, Reference Note is an example of a custom field name and the text below is what will populate in that column of the General Ledger as it relates to the account and pay types associated.

4. Select a GAAP (Generally Accepted Accounting Principles) category to categorize the account. In the event a GAAP category is not selected, this column will be blank on the General Ledger.

5. Configure whether this entry is a Debit or Credit under Entry Type. Typically, with every debit account you create there will be an associated credit account (or vice versa) so that the General Ledger balances.

6. Next, add all Transaction Types that should be mapped to the account. The same Transaction Types can be added to multiple accounts if needed.

7. Under Subtotals, establish how you would like subtotals in the General Ledger to calculate.

• By company will aggregate all transactions across the entire company on a single line. 

• By group will total all transactions on a per group basis depending on what was selected. In the event multiple groups are selected, the totals will display on multiple lines in the report.

8. In the event totaling By Group is selected, you can attach a code to the account number entered for display purposes. The code is entered on the Department, Division or Branch settings in edit mode of payroll Company Settings. If you do not use Report Display Settings, when totaling by groups, you will have the option to keep totals in multiple or consolidate as Single Line in Display Amounts.

9. Under Display amounts with the same account number, you have the option to select either Multiple lines or Single line. Please note, that if you chose to Subtotal By Company or are using the Prefix or Suffix Code option the Single line option will be required. If you select Subtotal By Group and are not using the Prefix or Suffix Code option, you can choose either options.

10. Select Save Account to finalize changes.

11. Accounts can be viewed on the index page, once the account configuration is complete. To edit or delete an existing click on the account number hyperlink.

 

NAVIGATING TO THE GENERAL LEDGER REPORT

1. Once you have finished mapping all accounts, you can view newly created General Ledger report in real-time. To access the report navigate to Reports in Namely Payroll and then select either Pay Cycle or Date Range. You can also click Payroll Reports from the General Ledger Configuration page. View before you approve payroll.

2. Namely has provided 3 excel reports related to your General Ledger on the reports page. The main report is listed as General Ledger Report. You will also have access to General Ledger Report By Employee which provides employee level details from the General Ledger Report and a General Ledger Mapping file which shows the details of every account and the transaction types associated.

You can also run your General Ledger Report on Step 3 of payroll processing to review before you process.