Tag Number Settlement For Free

Ledger settlement is the process of matching debit and credit transactions in the general ledger. The settlement of the debit and credit amounts is used to reconcile the balance of the ledger account with the detailed transactions that make up that balance.

Financial reporting for the application allows financial and business professionals to create, maintain, deploy, and view financial statements. It moves beyond traditional reporting constraints to help you efficiently design various types of reports. Financial reporting includes dimension support.

The Financial tags (tags) feature eliminates the need to use document numbers, descriptions, or financial dimensions by letting an organization create and enter up to 20 user-defined fields on transactions. Those fields are then stored on the accounting entries that are created for the transactions.

Financial tags let organizations track user-defined fields on accounting entries posted to the general ledger. Financial tags are an alternative to financial dimensions and should be used to track transaction-specific data, such as document numbers and even some master data.

Financial dimensions are used to code accounting entries for reporting (for example, to identify sales per department or expenses per cost center). Financial tags (tags) are an alternative to financial dimensions. An organization can create up to 20 user-defined financial tags and enter values for them on transactions.

There are two types of financial dimensions: custom dimensions and entity-backed dimensions. Custom dimensions are shared across legal entities, and the values are entered and maintained by users. For entity-backed dimensions, the values are defined somewhere else in the system, such as in Customers or Stores entities.

Create a custom financial dimension Click New. In the Use values from field, select Custom dimension. In the Dimension name field, type a value to describe the financial dimension. ... Click Activate. ... Click Activate. ... On Action pane, click Dimension values. Click New.