General Ledger

13 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 organise 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.