Sub-Ledger or General Ledger

Virtual Trader can be configured to write to any nominated interface. However Virtual Trader is pre-configured for the AR/AP sub-ledger interfaces and the general ledger interface as they are the most commonly used.

This capability provides the client with the option of posting inter-company transactions to the AR/AP sub-ledgers, or directly to general ledger.

AR/AP Sub-Ledger Option

The AR/AP sub-ledger route is the traditional method of processing inter-company transactions, and provides excellent audit and control.

Virtual Trader Sub-ledger

General Ledger Option

The general ledger route provides a more streamlined approach, and has advantages particularly in high volume situations.

Virtual Trader Sub-ledger

This method avoids the complication of running every transaction through the AR and AP sub-ledgers' import and approval processes, and subsequent matching and payment at a transaction level. When posting directly to the general ledger, Virtual Trader provides the necessary sub-ledger audit and transaction listings.

The postings can be summarized, and allows the client to make simple net liability settlements either directly within general ledger, or via the integrated IC sub-ledger.

Virtual Trader provides the necessary reconciliation for statutory AR/AP control accounts, and optionally the payment process.