[ups2010]

This is homework. Supposelly, My company is doing an implementation to HR Payroll with a company called XYZ (sample). In order for them to implement to the GL setup they need the following questions answer. Any help would be appreciated. All I need is to somebody to give me example and/or explain the questions.

Thank you,
Lost-accounting

1. What is your current method of posting your General Ledger?
2. Do you currently use accruals with your General Ledger?
4. Does your GL vary by company?
5. Do you use organization levels/cost centers to segment the Account codes?
6. Please indicate the cost centers in your organization:
7. Do you segment accounts by employee?
8. Does your company use labor allocation?
9. What is the frequency of your General Ledger?
10. Do you require Billing items on the General Ledger?

[Curlyben]

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[morgaine300]

Even I don't know what half those questions are supposed to mean, mostly cause it can depend on context and also what someone chooses to call a "type" or "method." I've also never seen an assignment like this. (I don't know what class this is for, but certainly not any typical accounting or business math class.)

Just for instance, current method of posting? What do they mean by "method"? I have no clue. Posting is posting is posting. You take something from a journal and stick it into a ledger. The only thing that even occurs to me is manual versus software but I don't see how that's relevant.

Or 8, labor allocation - in what context? 9 - frequency of a general ledger? Do they mean frequency of posting to the ledger? I don't know. 10 - require billing items on the general ledger - what on earth?

7 - segmenting accts probably means like if the employee is considered part of COGS, or selling, etc. 4- vary by company I would think would be obvious.

Really, very strange problem.