| Description: |
This system function maintains visibility of the status of all DoD resources and financial obligations as reflected in proprietary, budgetary, and memorandum general ledger account balances. This system function represents both the general ledger and supporting subsidiary ledgers. The general ledger and supporting subsidiary ledgers are the single source for a DoD organization's trial balance and fiscal control in support of operations. This system function governs posting of transaction details to the subsidiary ledger and consolidation of those balances into the general ledger in accordance with the appropriate business rules. The general ledger and supporting subsidiary ledgers are maintained in accordance with the chart of accounts and accounting classification structure. The Maintain General Ledger system function also maintains centralized trial balances and ensures government-wide funds control over budgetary resources, cash, borrowing, and other means of financing. This system function reconciles agency and Treasury accounts (fund balances, outlays and receipts, intra-governmental transactions). This system function also closes the General Ledger according to appropriate business rules. |