Accounting Sub Ledger
The Microgen Sub Ledger records debits and credits for all transactions from across an enterprise, and enables firms to drill down to underlying transactions to substantiate accounting balances.
The Microgen Sub Ledger forms a link between a general ledger and a primary trading or transaction platform.
The Sub Ledger enables the accountant to quickly produce summary reports and to drill down into how individual trades or transactions affect accounting balances. Features of the Microgen Sub Ledger include:
- Support for multiple entities, multiple ledgers and multiple currencies.
- Mechanisms to ensure data quality including tight binding and in-process validation
- Flexibility to view account summaries or extended balance details
- As in all ledgers, journals of debits and credits are posted to maintain or move balances, in double entry book keeping manner. Each journal balances to zero by entity, effective date, book and currency.
- Balances can be reported as Life To Date, Year To Date, Month To Date and daily, and hold values in transaction, base and local currency.
- Balances are stored in such a way that they are not updated if they do not move, significantly reducing processing load when balance numbers are large.
- There is a concept of effective dated posting with open and closed periods. Balances have a key composed of a type and a date or a year and period.
- Microgen Sub Ledger can include summary and detailed balances.
The Microgen Sub Ledger is particularly well suited for financial institutions including investment banks, retail banks and asset managers. Processes supported include FX Translation and Revaluation, Year End and P&L Sell-down.
The Microgen Sub Ledger comes packaged as a core module of Microgen Accounting Hub , which provides enterprises with a single point of control for financial and accounting data.
For more information about the Microgen Sub Ledger, please contact us.