Accounting

Feature	Description	Prerequisites
Chart of Accounts Management	United Kingdom doesn’t have a statutory chart of accounts. You are able to upload your own chart of accounts.	Install United Kingdom Localization SuiteApp; see Prerequisites for Installing the United Kingdom Localization SuiteApp and Installing the United Kingdom Localization SuiteApp.
Accounting Contexts	Provides a solution if your main Chart of Accounts is different than your local U.K. Chart of Accounts. Through the Accounting Contexts subtab on the General Preferences page, you can create a U.K. Accounting Context, which allows mapping between the main accounts and the U.K. numbers.	Available in all OneWorld accounts.
GL Audit Numbering	Applies gapless numbering sequences to all general ledger posting transactions. This is an optional feature and is a prerequisite for the GL Impact Locking feature.	Enable the GL Audit Numbering feature; see Enabling GL Audit Numbering and Setting Preferences.
GL Impact Locking	Requires the GL Audit Numbering feature. When you use GL Impact Locking for a company or a subsidiary, any change to a general ledger impacted field or entity field on a GL numbered impacting transaction after running a GL audit numbering sequence automatically generates copy and reversal transactions. These transactions display on the GL Impact subtab on the original general ledger impacted transaction. This feature is optional for the UK.	Enable the GL Audit Numbering feature; see Enabling GL Audit Numbering and Setting Preferences. Check the GL Impact Locking box on the Company Information or Subsidiary page; see GL Impact Locking.
Period End Journal Entries	This is an optional feature that allows the creation of income closing journals, balance sheet opening and closing journals as a task in the Period End Checklist. Without this feature, the Balance Sheet report will use a dynamic close.	Enable the Period End Journal Entries feature and perform additional setup tasks; see Setup for Period End Journal Entries.

Feature

Description

Prerequisites

United Kingdom doesn’t have a statutory chart of accounts. You are able to upload your own chart of accounts.

Install United Kingdom Localization SuiteApp; see Prerequisites for Installing the United Kingdom Localization SuiteApp and Installing the United Kingdom Localization SuiteApp.

Accounting Contexts

Provides a solution if your main Chart of Accounts is different than your local U.K. Chart of Accounts. Through the Accounting Contexts subtab on the General Preferences page, you can create a U.K. Accounting Context, which allows mapping between the main accounts and the U.K. numbers.

Available in all OneWorld accounts.

GL Audit Numbering

Applies gapless numbering sequences to all general ledger posting transactions. This is an optional feature and is a prerequisite for the GL Impact Locking feature.

Enable the GL Audit Numbering feature; see Enabling GL Audit Numbering and Setting Preferences.

GL Impact Locking

Requires the GL Audit Numbering feature.

When you use GL Impact Locking for a company or a subsidiary, any change to a general ledger impacted field or entity field on a GL numbered impacting transaction after running a GL audit numbering sequence automatically generates copy and reversal transactions. These transactions display on the GL Impact subtab on the original general ledger impacted transaction. This feature is optional for the UK.

Enable the GL Audit Numbering feature; see Enabling GL Audit Numbering and Setting Preferences.

Check the GL Impact Locking box on the Company Information or Subsidiary page; see GL Impact Locking.

Period End Journal Entries

This is an optional feature that allows the creation of income closing journals, balance sheet opening and closing journals as a task in the Period End Checklist. Without this feature, the Balance Sheet report will use a dynamic close.

Enable the Period End Journal Entries feature and perform additional setup tasks; see Setup for Period End Journal Entries.

General Notices