The FI application module is designed for automated management and external reporting of general ledger, accounts receivable, accounts payable, and other sub-ledger accounts with a pre-defined chart of accounts.
The General Ledger (G/L) module is the central integrating component in FI. Each account used for posting is defined in the G/L and contains information that reflects or describes its function.
This information is stored in the master record of an account. The central task of G/L accounting is to provide a comprehensive picture for external accounting. Recording all business transactions (primary postings as well as settlements from internal accounting) in a software system that is fully integrated with all the other operational areas of a company ensures that the accounting data is always complete and accurate.