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Suggestions for not exploding the GL

  • 1.  Suggestions for not exploding the GL

    Posted Nov 25, 2020 10:45 AM
    We post a lot of detail through Journal Entries. This results in our General Ledger being many pages long. I know we could post in summary instead of detail, but I'm curious if there is another way. I read some where about consolidation accounts, but that seems mostly used for different entities. Does anyone have any recommendations?

    Deb Grondahl
    Finance Project Analyst
    Princeton University Press
    Princeton NJ

  • 2.  RE: Suggestions for not exploding the GL

    Posted Nov 25, 2020 03:19 PM
    Th whole idea of a general ledger is to hold the detail for all financial transactions, and one cannot post General Journal transactions in summary. (I also do not recommend posting from any module in summary, but do advise setting some accounts (e.g., cash and accrual accounts) to Summarize All But GL.)

    It sounds as though you need a better reporting tool than whatever you're using.

    Jonathan Van Houtte
    XLstatements, LLC
    Clifton Park NY