...
There are various options available for integrating the general ledger into the entire solution architecture:
- Full-size general ledger: as such it contains the full balance sheet (statement of financial positions) as well as the profit and loss account (income statement). It can accommodate financial instruments as well as non-financial instruments.
- Shadow ledger: as such it is limited to financial instruments or even a selected product portfolio only (e.g. loan ledger)
- Shadow ledger light: as such it is limited to financial instruments or even a selected product portfolio only (e.g. loan ledger) and in addition it only covers an excerpt of valuation elements for the relevant portfolio (e.g. it only covers entries related to the valuations of loans)
...
If the solution is implemented as a shadow ledger or shadow ledger light, a third-party tool needs to be installed as a general ledger. This external ledger can be fed with debit/credit entries. A specific data mart exists for this purpose.
The implementation of the tool as a general ledger must be consistent with the use of an additional third-party general ledger. Usually the drilldown and analysing functionality of the solution exceeeds exceeds by far the capabilities of third-party ledgers. Therefore it might be reasonable to use the solution as a general ledger while keeping an existing external general ledger in place for specific requirements such as legal reporting (that is not saying that the solution is not capable to also deal with this requirement, but maybe to keep existing tools in place for several reasons at a certain point of time).
...
- Import of credit/debit entries at general ledger account level
- Accounting Rules Engine