Preparing adjusting entries usually involves a lot of journal entries, staff input and tedious work. Not anymore. As a more efficient processing of adjustments, adjustment-only secondary ledgers reflect only adjustments without affecting your primary ledger, allowing entries to be made discretely. Explore the benefits of using adjustment ledgers, complete with a step-by-step setup guide.
Learning Objectives: After completion of this program you will be able to:
- Objective 1: Discover the benefit of using adjusting ledgers versus adjusting entries.
- Objective 2: Understand the requirements of ledger sets and how they accelerate the close process.
- Objective 3: Understand how to use secondary ledgers and ledger sets to accommodate local and statutory reporting requirements.