The General Ledger Company is the chart of accounts for the entity.
One GL Company could be used by many entities. The key elements of defining a GL Company are: Account Structure, Fiscal calendar and Validation mechanism.
The general ledger company is used to define each organization’s general ledger account structure and accounting journals (one per chart of accounts). The general ledger company will be associated to a fiscal calendar, which is used in creating postings to the financial systems.
