One of the primary benefits of the Procurement Partners software is its ability to easily accommodate and function with your corporate General Ledger (GL) structure. When your organization is on-boarded, your corporate GL code information is imported into our system, retaining its original structure. GL codes are composed of GL Segments and GL Accounts.
GL Segments – Each piece of the GL code is a segment. Your organization will have its own set-up for GL codes constructed using these segments. GL segments are defined when your organization is on-boarded and shouldn’t require any modification.
GL Accounts – These are the specific items that are entered for each GL segment. Your organization will have its own structure for GL accounts and what each set of numbers within each GL segment means. GL accounts are defined when your organization is on-boarded, but there may be a need to add new accounts as time goes on.
GL Codes – A combination of GL accounts using the structure laid out by GL segments to form a specific billable code.
GL Groups – GL codes can be organized into categories known as GL groups. By default, your GL codes will be put into a sensible GL group. However, these codes can be added to multiple GL groups for ease of use.