The general ledger tracks the accounting transactions over the life of the financial institution. It holds all the information required to prepare financial statements.
The accounting entry is a formal record that documents a transaction. In OpenCBS Cloud, all accounting entries (manual or automated) are made using the double-entry bookkeeping system, which requires both a debit and credit entry.
The General ledger module presents the list of all transactions. You can filter them by the account and/or date:
If you would like to check transactions for a certain period of time, set the date range (begin and end dates) and click the Filter button.
If you would like to see transactions that are related to a particular account, click in the select field, pick the account and click the Filter button
If you would like to enter a transaction manually, click on + Add transaction
The popup window contains five required fields:
- Debit account - indicate the account which should be debited
- Credit account - indicate the account which should be credited
- Amount - indicate an amount of the transaction
- Description - indicate a description of the manual transaction
- Date - indicate the transaction date (can be a past date)
Click Save or Cancel to save or discard changes respectively.
Please note that all transactions related to loans and savings are automated. There is no need to enter those transactions in the general ledger of OpenCBS Cloud. The configuration of those automated transactions is linked to the loan and savings products creation.