General Ledger is the central functional area in Navision Financials-it is totally integrated with all other functional areas. All general ledger debits and credits are recorded here, and there are many facilities for both internal and external analysis. You can produce financial statements- profit/loss, balance sheet, and cash flow-all following FASB 95 standards.

Throughout Navision Financials, department and project codes can be used to indicate the profit center for financial reporting. Within the general ledger, these profit center dimensions can be combined on screen or in reports to provide summarized information or a side-by-side comparison of profit centers.

Basic General Ledger

All configurations must include the basic functions of General Ledger. Basic General Ledger provides the basic accounting functionality for the Navision Financials accounting system. Also, since Navision Financials is fully integrated, the general ledger is required to use the features in the Accounts Receivables and Accounts Payables areas including Order Entry and Purchase Orders. Basic General Ledger includes the Chart of Accounts and the General Journal to enter and post General Ledger transactions. It also allows you print detailed and summary trial balances as well as a number of other fundamental reports.

Budgets

This feature lets you assign budget transactions to each general ledger account in the chart of accounts. For each account, you can assign budgets on a daily, weekly, monthly, quarterly or annual basis. You can also assign budgets by user-defined accounting periods. There is no limit to the number of budgets you can create. Plus, budgets can be created for any number of years into the future. Alternative budgets and revisions of budgets are included. If the company needs to do budgets on a departmental basis it must also have the system-wide function of departments and projects. General ledger reports and query screens, where applicable, include budget numbers for comparisons.

Consolidations This feature allows you consolidate both domestic or foreign subsidiaries. Different chart of accounts structures can be consolidated into a merged or parent company in a Navision Financials database. Navision Financials handles consolidations on a departmental basis, as well as on a project basis. Navision Financials also handles partial ownerships, different fiscal years and exchange rate issues for foreign subsidiaries.

Account Schedules

Navision Financials' powerful Account Schedules provide you with the ability to design custom financial statements, including user-defined row & column layouts. Additionally, account schedules provides the ability to dynamically view the information on screen with full drill-down and OLAP functionality. You must have Account Schedules to generate and print cash flow statements.