General ledger for manufacturing is the financial backbone of the manufacturing / ERP software package and must interface well with all its modules and accounting functions. It maintains financial information in addition to budget information and transaction history; it is the repository of accounting information from all other modules, such as Accounts Receivable, Accounts Payable, Purchase Orders and Payroll. It also maintains the balance of inventories and inventori-able costs (e.g. work in process) based on costing from the manufacturing application.
Thus, it is important that the general ledger has accessible and flexible databases to maintain all of this information. It is also important that the general ledger and job cost ledgers stay in balance to maintain accounting integrity. Good general ledger modules work with Report Writing modules to produce traditional financial statements such as an Income Statement and Balance Sheets plus customized reports.
Here are some of the important functions to keep in mind when evaluating General Ledger: