General Ledger, or "GL" accounts, are fundamental records used for accounting purposes to sort and store balance sheets and income statements. In the Procure-to-Pay (P2P) process, these accounts are vital for classifying spending and ensuring accurate financial reporting.

GL Accounts in the P2P Process

GL accounts serve as the primary mechanism for financial control within Tradogram:

• Spend Classification: When ordering goods or services on any transaction form, users have the option to link the line item(s) to a specific GL account. This ensures that the item's cost is correctly documented under the right spending category (e.g., "Office Supplies," "Maintenance," "Marketing").
• Default Association: For consistency and speed, GL accounts can be associated with specific item profiles by default. This automatically populates the correct GL account when the item is added to a transaction.
• Financial Integration: Properly classifying spending with GL accounts is essential for seamless integration and communication with your external accounting software, allowing for accurate budget tracking and financial reporting.

Using GL Accounts in Tradogram

• Tutorial - Managing GL Accounts
• FAQ - How are GL Accounts Recorded and Tracked
• FAQ - What are item and supplier associations used for in GL Accounts?

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