Time to Put Your G/L on a Diet?

August 27, 2008 from BusinessFinance – “Companies historically have dumped anything they needed to report on into the general ledger and added it to the chart of accounts. As a result, the G/L functioned as both a data warehouse and the financial book of record, a situation that ISA Consulting describes as "the fat G/L."

180 View – The remedy according to the article is “I would want to take to my general ledger only the bare minimum necessary to do my filings -- legal entity and natural account. I'm oversimplifying, because most organizations report by segment, but in essence that's what you need.”

But today you can have your cake and eat it too. There are analysis codes, reporting structures and subledgers that can give you the reporting you need without a fat G/L.