Call Us: US - +1 845 478 5244 | UK - +44 20 7193 7850 | AUS - +61 2 8005 4826

The general ledger (G/L) system integrates

General ledger
The general ledger (G/L) system integrates transaction data from the other major transaction processing subsystems-payroll, accounts receivable, accounts payable, and so on. Besides insuring that the records of the firm balance, the general ledger system is used for budget planning , responsibility reporting , cost allocation and profitability accounting.

Most companies must provide regular support to a number of data-oriented, transaction processing operations that involves a massive amount of record keeping. These operations payroll, order entry, and inventory control, to name just a few where the first business applications of computers in organization and are still among the most important. Without their computer based transaction processing system, most business could not survive in today’s fast paced business environment.

Some computer based transaction processing systems have produced a new competitive business weapons: the inter-organizational system (IOS). In many organizations, electronic data interchange (EDI) and imaging system impact the manner in which some transactions are processed. An other important trend in the down sizing of transaction processing –moving transaction processing applications from mainframes to microcomputer , microcomputers to local area net work.

To day, inexpensive computer and communications devices are setting up two new challenges to transaction processing: using the TPS as a competitive weapon and getting better information more quickly to the right people.