Accounting - General Ledger Maintenance


Chart of Accounts

Freedom Services utilizes a sophisticated general ledger system that is both flexible and capable of accepting data from a number of different mediums. Establishing the structure for the general ledger is crucial to both the efficient recording of transactions and the ease with which reports can be produced. Freedom Services' team of accounting professionals work with our partners to define the reporting relationships that currently exist within an organization as well as how these relationships could change in the future. This information is utilized to establish the framework for the chart of accounts and will typically include the following attributes:

  • Multi-tiered structure which incorporates a large number of reporting relationships. 
  • Line item accounts that roll up into one or more summary categories. 
  • Multi-currency capabilities with automated conversion functionality. Ledgers can be produced both in the native and reporting currencies. 
  • Flexible calendar structure allowing for separate closing periods. 
  • Maintenance of budgets and prior period actual information on a line item basis allowing for the production of a wide range of comparative reports. 



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