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New Features in General Ledger

When you access General ledger from the web view, you will notice changes and enhancements to fields and features like search, lists, and navigation. Here are a few of those enhancements:

Active and inactive account records

In the web view, you can choose to prevent data entry by locking the account from any data entry. You can also prevent posting after a future date by marking the Prevent posting after checkbox and entering a date. When marked, a notification appears at the top of the account record with this information.

Account activity and budget information

In the web view, the Budget and Activity tiles on the account record display the full summary amounts regardless of the project security in place. When you drill down into a period, all amounts that make up the summary number are displayed, however, the project ID and project description are masked.

In Financial Edge database view, the summary amount displayed is reduced based on project security settings.

Project activity and budget information

In the web view, the Budget and Activity tiles on the project record display the full summary amounts regardless of the account security in place. When you drill down into a period or category, all amounts that make up the summary number are displayed, however, the account ID and account description are masked.

In the database view, the summary amount displayed is reduced based on account security settings.

Post subledgers to the general ledger

You can validate and post the Payables, Cash receipts, and Cash management subledgers in the web view.

When you post Payables and Cash receipts, you select post parameters to use from the database view.

Tip: The ability to select post parameters for Payables and Cash receipts from the web view will be added in a future release.

When you post bank adjustments for Cash management, you select the banks to include.

Tip: In the database view, you post bank adjustments from the Banks page.

Separate reports for validation and post to general ledger

When you post batches for a subledger, only valid transactions post to the general ledger in the web view. Invalid transactions do not post. This improvement helps eliminate the potential for data corruption during the post process. In Financial Edge, there was the potential for data corruption should there have been an interruption during the post process.

After processing completes, posted transactions appear in the Post Report, and invalid transactions appear in a separate Batch Validation Report. These reports replace the single General Ledger Report in Financial Edge that combined invalid and posted transactions on the same report.

Budgets

The list of budgets stores all the information you need to track a budget.

Features. You can add attachments, such as images, PDFs, Word documents, or Excel spreadsheets, to a budget scenario in the web view.

View. When you view a budget's scenario in the web view, you can select to view totals and distributions for an account, project, or grant (or a combination using two of them) when you apply groups to the list. After the list, total amount rows appear for each column that calculates revenue and expense.

Add. You add a scenario from the list of budgets. As you add a scenario, you can also create a new scenario ID if the one you need doesn't exist. To save time, you can also select to copy an existing scenario to default the data you need for the new one. This allows you to default the same account, project, or grant from the existing one. You can also select if you want to copy the existing scenario's values or if you want to default 0 amounts in the new scenario.

Note: When you copy a scenario in the web view, all data for the existing scenario copies to the new scenario. At this time, you cannot select to copy specific data, such as only one project. Also, a different project or grant cannot be selected to associate with the new scenario. If you need to do this, select the project and grant to associate with the new scenario after the copy is complete.

Edit. When you edit a budget, you'll discover many new features that provides a way for you to easily view and modify data in a way that is most valuable to you and your daily workflow. For example, you can add and delete rows, view error messages to help you resolve issues, and enter notes for a row to track unique information.

Delete. You can delete a scenario unless it has been finalized.

Excel add-in. To quickly enter budget data in a Microsoft Excel spreadsheet, then submit the data and monitor the data in the web view, download the Budget Creator for Financial Edge NXT add-in from the Microsoft's Office Store. This enables bulk data entry and saves time, especially when entering similar data.