Step 4: Setting Up the General Ledger Structure

In this step of the Company Creation Wizard you can define whether or not to generate general ledger transactions based on your costing structure.

If you will be using the general ledger function, at this point you must check the box to enable general ledger payrun transactions. This will allow you to export payroll transactions and amounts as journal entries in a format suitable for importing into your accounting software. The rest of this step is optional in creating a company. You can define your general ledger structure at a later time by accessing the General Ledger.

 

There are many different general ledger accounting structures and to facilitate this, payroll can define a flexible general ledger structure specific to your needs.

Whether you set up the definitions for your General Ledger Structure at this step in the Wizard or wait until later, the process is described in detail in Using the General Ledger | Setting up a General Ledger Definition Structure.