What is a GL Code?
A General Ledger (GL) code is a unique identifier used in accounting systems to categorize financial transactions. In Business Engine, GL codes facilitate the mapping of billing data to the appropriate financial accounts, enabling accurate financial reporting and reconciliation.
How GL Codes Are Used in BusinessEngine
GL codes are configured within the Administration Portal. Settings menu - Services - GL Codes.
Each GL code can be associated with a specific Price Type as well as an individual Service. This setup ensures that revenue generated from different services and pricing models can be accurately tracked and reported in the financial system.
GL Codes on Customer Invoices
When a customer invoice is generated, GL codes are stored on the invoice line items—specifically for those lines that can be directly linked to a corresponding Order.
Transaction Fees and Late Fees
In addition to service-related invoice lines, GL codes can also be assigned to transaction fees and late payment fees. This ensures that all revenue types, including penalties and administrative charges, are correctly classified in the financial system.