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Update General Ledger from Sub ledgers

Not all opening balances transactions may be posted to the sub ledger especially if entered before setting the start of the financial year. The General ledger may then need to be updated manually with sub ledger transactions. This window of Loan Performer is used to perform this function.

A user can then update the General Ledger with the data from the sub ledger for Client registration, Shares, Savings, Time deposits, and loans.

How do you update General ledger from sub ledger?

To update the general ledger from the Sub ledger you go to Accounts\GL Transactions\GL Opening Balances\ Update General Ledger from Sub ledgers and the following screen appears:

• Generate Opening balances: When this option is unticked, LPF allows the user to post data based on a selected date range for instance from "01/01/2001 to 31/12/2001".and when when ticked LPF will allow posting of data as at a given date possibly at the end of a financial period. By default this option comes unticked.
• From Date:  In the drop down box, select the appropriate date when to start posting the transactions / Balances e.g., "01/01/2001" and in till Date drop down box select the date the posting should end e.g "31/12/2001".

• Post Client registration Data: This will post client financial data at registration like the client membership fees, Stationery fees, registration fees etc from the respective sub ledgers to the General ledger. A report that details the accounts involved, Transaction type, and the total number of transactions per account will also show up.
• 
• Post Shares Data: This will post client share transactions from sub ledgers to the General ledger like buying and selling of shares.
• Post Savings transactions: This will post savings transactions from sub ledgers to the General ledger. These can be savings withdrawals, deposits and transfers for individual and group accounts.
• Post Time deposit Transactions: This will post time deposited transactions from sub ledgers to the General ledger
• Post Loans Transactions: This will post client's loan transactions from sub ledgers to the General ledger. These transactions can be loan interest, Loan commissions, Loan payments.
• Select cash account: This will be the corresponding cash account that will be either debited or credit with the amounts from the sub ledgers
• Select Bank account: This will be the corresponding bank account that will be either debited or credit with the amounts from the sub ledgers if the transaction were by bank

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