Management Reporting

The General Ledger module allows you to set up your system to distinguish between fiscal and managerial accounting transactions by defining two different types of accounts (fiscal and managerial).  Fiscal accounting transactions are those subject to legal requirements while managerial accounting transactions are subject to internally defined requirements. 

If you use the management reporting option, you must define a reporting class for your Inventory Accounting system that determines the types of accounting transactions that can be made in it.  Usually, the Inventory Accounting subsystem is set up with a common reporting class to allow all transactions to be made in it.

In addition, the management reporting option requires accounts, journals, and allocations to be assigned a reporting class.  If you are using the management reporting option, please read Management Reporting in the Key Concepts section of the General Ledger User Manual before setting-up your Inventory Accounting system.