Ledger settlements

10 minutes

Ledger settlements let you match debit and credit transactions in the General ledger and mark them as settled. In this way, you can make sure that related transactions have been cleared. You can also reverse settlements if they were made by mistake.

Settle transactions

To settle ledger transactions, follow these steps.

Go to General ledger > Periodic tasks > Ledger settlements.
Set the filters at the top of the page:
- Select a date range, or select Date interval code to automatically fill in the date range.
- Change the posting layer, if needed.
- To show the ledger account and dimensions separately, select a financial dimension set.
Select Display transactions to show all the transactions that match the filters that you set and the list of accounts that you specified when you set up the chart of accounts list in the previous section. If you change any of the filters or the dimension sets, you must select Display transactions again.
Select one or more lines that you're considering for settlement. The value of the Selected amount field at the top of the page increases or decreases by the total amount on the lines that you selected.
After you've finished selecting transactions, select Mark selected. A check mark appears in the Marked column for each transaction that you selected. Additionally, the value of the Marked amount field above the grid increases or decreases by the total amount on the lines that you marked.
When the Marked amount value is 0 (zero), select Settle marked transactions. The status of the marked transactions is updated to Settled.

Make transactions easier to find

The Ledger settlements page includes the following capabilities that make it easier to see the transactions that you need for settlement:

Unmark selected - Clears the Marked field for all lines that are selected.
Marked - Lets you filter transactions based on whether the Marked field is selected or cleared.
Status - Lets you filter transactions based on whether their status is Settled or Not settled.
Sort by absolute amount - Lets you sort the amounts by an absolute value, so that you can group debits and credits that have the same amount.

Reverse a settlement

You can reverse a settlement that was made by mistake by following these steps:

Follow steps 1 through 3 in the "Settle transactions" section to show the transactions that you're looking for.
In the Status filter, select Settled.
Select one or more lines that you're considering for reversal. The value of the Selected amount field at the top of the page increases or decreases by the total amount on the lines that you selected.
After you've finished selecting transactions, select Mark selected. A check mark appears in the Marked column for each transaction that you selected. Additionally, the value of the Marked amount field at the top of the page increases or decreases by the total amount on the lines that you marked.
When the Marked amount value is 0 (zero), select Reverse marked transactions. The status of the marked transactions is updated to Not settled.

Update the list of accounts that are included in the list of transactions

Select Ledger settlement accounts to open a dialog box where you can edit the accounts that are included in the list of transactions. Select New to add new accounts to the list. This list is used to filter the list of transactions that appears on the Ledger settlements page.

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