General Ledger Overview

From General ledger, Overview, quickly direct your attention to tasks that require immediate action.

Video: General Ledger Overview Tour

Note: Don't see this yet? The Overview page is in Limited Availability (LA) and is releasing in waves. During the LA, we'll review and implement participant feedback to prepare for general availability.

Needs attention

Under Needs attention, quickly identify tasks that require immediate action — such as posting transactions in out-of-balance batches or reviewing pending batches to keep your workflow moving.

Tip: Out-of-balance and pending batches are pre-filtered lists of journal entry batches. When you select them, you'll see lists that meet specific criteria, but you can easily adjust the filters to update the list according to your needs.

You can also monitor open fiscal periods at a glance and close them once all transactions have been posted. This helps maintain accurate and up-to-date financial records.

Closing assistant

Closing assistant displays up to 99 unposted transactions per subledger, helping you stay on top of outstanding items. To maintain accurate and timely financial records, regularly review and post these transactions for each subledger so you can close fiscal periods that no longer need to remain open.

Note: Before closing a fiscal year, make sure all fiscal periods within that year are closed.

  1. Under each subledger, such as Payables or Receivables, select Review [x] unposted transactions.

    Note: Review unposted transactions for each subledger across all open fiscal periods. The list of remaining open periods appears under Fiscal period.

  2. After you review the list of unposted transactions and you're ready to post them, select Post.

  3. Select the post parameter file to use for the transactions and select Post. For more details about post parameters, see Add Post Parameters.

    All valid transactions post to general ledger and appear in the Post Report.

    Tip: Invalid transactions don't post to the general ledger. These appear in the Batch Validation Report for you to refer to when adjusting them.

    To validate the transactions and make sure they balance before posting them, select Validate. When validation is successful, select the message that displays on your screen to access the Batch Validation Report so you can view, export, or print the report.

    For more details about validating and posting transactions, see Validate and Post a Batch.

  1. Under General ledger, select Review [x] unposted batches.

  2. To open a batch, select the ID under Batch ID.

  3. Review the transactions in the batch before approving them for posting. From the batch record, you can also edit the batch, add an alert for it, validate the transactions, and generate a batch detail report. For more info, see Batch Records.

  4. Repeat these steps for each batch you need to post.

    For more details, see Journal Entries.

Note: Before closing a fiscal year, make sure all periods within that year are closed.

  1. Under Fiscal period, select the open period you want to close.

  2. Under General ledger, select Close fiscal period.

  3. After you confirm you're ready to close the period, which prevents any further transactions from being posted, select Close fiscal period again.

    Repeat these steps for each period you need to close.