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In the world of business, keeping track of money matters is crucial, and that's where GeneralLedger Codes, or GL Codes, come into play. GeneralLedger Codes, or GL Codes, are unique alphanumeric strings that classify and record financial transactions within a company’s generalledger.
The process of encumbrance accounting involves creating encumbrance journal entries after purchase requisitions and purchase orders. These encumbrances can be tracked manually or automatically through specialized systems like Oracle GeneralLedger.
Pros of Ramp: Automated transaction coding, approvals, and reviews Simplified transaction coding with combined tracking categories Rules and approval workflows to enforce company policies Easy creation of employee expense reports for reimbursement Integration with Sage Intacct and other accounting systems Unlimited 1.5%
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