What you'll learn

GL Accounting and Budgeting

Overview

The GL Accounting and Budgeting course offers a comprehensive exploration of General Ledger features within an integrated environment. Participants will delve into setup procedures, account types, and budget definition using the Free Balance application. The course covers the maintenance of General Ledger records, providing insights into commitment accounting and its role in ensuring fiscal discipline. Participants will gain knowledge about financial controls for commitments and obligations, learning how to apply them effectively in budget execution.

Course Objectives

• Define various configurations for bookkeeping and accounting
• Describe the main elements of financial accounting information – assets, liabilities, revenue and expenses.
• Understand how to modify elements and distribute amounts in budget controls
• Understand how to handle gain/ loss from currency revaluation.

Course Content

• General Ledger and Journal Voucher
• Transaction Analysis and Sub Ledgers
• The different types of financial controls
• Setting budget controls
• Modifying budget controls through budget control update vouchers and redistribution vouchers
• Creating commitments and obligations.