Accounting Best Practices, Fifth Edition

Chapter 14: General Ledger Best Practices

Chart of Accounts

14–1	Eliminate small-balance accounts
14–2	Modify account code structure for storage of ABC information
14–3	Reduce the chart of accounts
14–4	Use identical chart of accounts for subsidiaries

Data Warehousing

14–5	Use data warehouse for report distribution
14–6	Use forms/rates data warehouse for automated tax filings
14–7	Use the general ledger as a data warehouse

General

14–8	Restrict use of journal entries
14–9	Avoid general ledger posting bottlenecks
14–10	Have subsidiaries update their own data in the central general ledger
14–11	Prescreen construction-in-progess entries

System Additions

14–12	Construct automated interfaces to software that summarizes into the general ledger
14–13	Create general ledger drill-down capability
14–14	Overlay the general ledger with a consolidation and reporting package
14–15	Use automated error-checking