General Ledger

17 articles

1. 01

   Understanding Light's General Ledger

   Light's general ledger is the central accounting system where all financial transactions are recorded.

2. 02

   Accounting Document Types and Lifecycle

   All financial activity in Light flows through a unified accounting document system.

3. 03

   Viewing and Searching Journal Entries

   Light provides tools to search, filter, and view journal entries and all accounting documents.

4. 04

   Creating Manual Journal Entries

   Manual journal entries allow you to record adjustments, accruals, and corrections directly in the GL.

5. 05

   Deferred Entries (Accruals and Deferrals)

   Deferred entries allow you to spread costs or revenue over multiple periods using release templates.

6. 06

   Multi-Entity Ledger Management

   For companies with multiple entities (subsidiaries, branches, operating divisions), Light maintains separate ledgers per entity.

7. 07

   Immutable Ledger and Audit Trail

   Light's ledger is immutable by design—once transactions post, they cannot be changed. This ensures data integrity and creates a complete audit trail.

8. 08

   Closing Periods and Month-End Close

   Accounting periods organize the GL by time.

9. 09

   Year-End Closing Entries

   Year-end close is the annual accounting process that closes all revenue and expense accounts and transfers net income to retained earnings.

10. 10

    How Light Handles FX

    A short overview of how Light converts, revalues and translates foreign currency.

11. 11

    FX Revaluations

    Foreign exchange (FX) revaluation adjusts your GL account balances to reflect current exchange rates.

12. 12

    Clearing, FX Gain/Loss, and CTA

    Clearing (matching) transactions and recording foreign exchange impacts are critical accounting processes.

13. 13

    Intercompany Documents

    Intercompany documents record transactions between entities in your corporate group.

14. 14

    Back-dating with 'accumulate past amounts'

    > **What is this page about:** How to back-date a release with the **Accumulation** setting on a release template, so months that have already passed are caught up in one posting.

15. 15

    Posting the year-end closing entry and locking the year

    > **What is this page about:** How to run year-end closing, confirm what it posted, and correct something in a year that's already been closed.

16. 16

    The document register: finding any document and its history

    > **What is this page about:** How to find any accounting document in the register, read its change and approval history, and trace it to the ledger entries it created.

17. 17

    Resetting and voiding: when it's allowed, what it leaves behind

    > **What is this page about:** How to undo or correct a posted accounting document in Light: which action each document type offers, what it leaves on the ledger, who can use it, and why a closed period blocks it.