An elementary General Ledger is one that uses only the very basic elements of the Micronet General Ledger system. This type of ledger generally suffices for smaller organisations where the business is a single entity and reports in this manner. That is, there are no divisions, departments or cost centres where profit needs to be reported for each. The business is classified as smaller or less complicated, requiring only basic or standardised reporting within the General Ledger - that is, only standard Profit & Loss and Balance Sheet reports are required.
When implementing a simple Micronet General Ledger, you need to complete the following steps: