Multi-Ledger Configurations

Overview

GoldFinch allows you to track transactions for multiple ledgers. Each ledger can have its own base GL currency.

If you only have one GL Ledger, skip this help page. You must use a blank value for GL Ledger in order to post.

Set up Multiple Ledgers

Navigate to Custom Settings\System Settings. Then, create a new parameter: MultiLedgerEnabled, with the Value = True.

Once enabled, you will NOT be allowed to post new entries into any Ledger Entry (such as GL Ledger, Item Ledger, Customer Ledger, or Vendor Ledger) table without a GL Ledger code.

Go to Company Setup. Then, click on the related list, GL Ledger, to add GL Ledgers with Ledger Type = Actual.

To populate a default GL Ledger on all transactions, go to Company Setup and enter a Default GL Ledger.

To populate a default GL Ledger for a specific user, go to User Setup and enter a GL Ledger.

Inventory Management

There are two ways of tracking inventory valuation by GL Ledger.

Segregate Inventory Valuation by Items

If the same inventory item is used in multiple ledgers, you can create multiple copies of the same item and assign a proper GL Ledger to each of them.

We recommend this option if GL Ledgers have different base currencies.

You don’t need to assign a GL Ledger to service items, even if they are used in multiple ledgers. There is no inventory sub-ledger to be maintained for service items.

If the GL Ledger is not blank on the transaction header, all inventory items on the transaction must belong to the same GL Ledger.

If there are open Item Ledger Entries on an item, the GL Ledger on the inventory item cannot be changed.

• Zero out inventory for the old items, and post inventory to the new items.

Segregate Inventory Valuation by Warehouses

If you cannot create multiple copies of the same item due to operational difficulties (UPC, scanning, working with suppliers, etc.), you can use Warehouse to segregate inventory valuation.

If GL Ledgers have different base currencies, you must hide all currency fields (such as Inventory Valuation and Unit Cost fields) from the Item page layout. You can create reports to retrieve accurate numbers by GL Ledger.

Navigate to Custom Settings\System Settings. Then, create a new parameter: MultiLedgerUseWarehouse, with the Value = True.

Assign a GL Ledger to each of the Warehouses.

The GL Ledger of the transactions, such as Sales Orders, Purchase Orders, Item Journals, and Work Orders must match with the GL Ledger of the Warehouse.

When you transfer inventory, the GL Ledger of the From Warehouse and the To Warehouse must be the same.

For Instances with Multi-Currency Feature turned on

If multi-currency is enabled, select the appropriate CurrencyISOCode for each GL Ledger. The selected CurrencyISOCode becomes the base GL Currency for the GL Ledger. The Currency Factor on transactions will be calculated based on the Base GL Currency.

Additional GL Ledger Type Information

You can set up GL Ledgers with Ledger Type of Actual, Budget, Converted, Elimination, and Consolidation.

Converted, Elimination, and Consolidation GL Ledger Types are used for the consolidation process.