UltiPro contains General Ledger functionality that captures payroll transactions and outputs them into a file formatted for import into your company’s financial system. When implemented and configured correctly, this GL function can eliminate or reduce manual manipulation of the data -- which in turn reduces human error and improves compliance. Auditors love this type of automation, and your team will too! An optimized GL will allow your team to focus on bigger tasks, by freeing up time and improving efficiency.
Companies record their financial activity in a General Ledger (GL). This General Ledger is used for financial reporting, planning and compliance. GL affects every department within your company. From an HR and Payroll standpoint, GL is used for payroll recording as well as any forecasting and planning.
Scroll down to the end of this post to review our GL Glossary.
During your UltiPro launch, or implementation, your GL will be configured. This includes setting up Organization Levels, GL Rules, and the GL export file and/or reports. (see our glossary at the bottom of this post for full definitions on these and other concepts).
During this initial configuration it is important to consider:
At the end of the GL Process, you will have access to a GL Export File. This file, configured within UltiPro, contains the required data for your financial system. If someone on your team is spending time manipulating this data, that is a sign that something needs to be optimized within your system.
The GL rules within UltiPro are so configurable that they should work FOR you. Although it is not an accounting software, UltiPro has the functionality, out of the box, to simplify your processes and make sure your data is clean and transferable across all departments.
If you believe you need a GL Review or have questions about how to optimize your system’s functionality, feel free to contact us today.
Stay tuned for more content around GL, or continue reading about how mosaic can help you optimize your UltiPro System here.
GL Export File:
An export template is configured in UltiPro to allow the export of payroll data required for the financial system. The export extracts its data from the General Ledger/Labor Allocations table. The resulting GL file includes the sum of debit and credit amounts by general ledger (GL) account number.
Organization (Org) Levels
Org levels in UltiPro are typically used to classify employees based on a specific group for the purpose of reporting and/or GL posting. Examples of classification types include:
GL Type Code – each type of payroll transactions is identified with a GL Type Code. The GL Type Code will assist with troubleshooting items that may appear on the GL Suspense Detail report.
GL Suspense Detail report – this report is generated after the GL process is run. If all payroll items are mapped on the GL Rules table, this report will be blank. If items exist on this report, the GL Rules table must be updated to map that code. Once mapped, the GL Process must be re-run.
Labor Allocations and the Auto Allocate feature are not necessarily part of GL and although commonly are used; they may not be used by every company. They are included in this list because they will affect the GL file.
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