Page 380 - Accounting Information Systems

CHA P TER 8 Financial Reporting and Management Reporting Systems 351

FI G U R E
8-2 JOURNAL VOUCHER RECORD LAYOUT FOR A GENERAL LEDGER MASTER FILE

Journal Voucher Number: JV6 - 03
6/26/09
Date: __________
Acct Account Name Amount
Num DR. CR.
130 Accts Rec. $5,500
502 Sales $5,500

Explanation: To Record Total Credit Sales for 6/26/09.
Approved By: Posted By:

The general ledger master file is the principal file in the GLS database. This file is based on the orga-
nization’s published chart of accounts. Each record in the GL master is either a separate GL account
(for example, sales) or the control account (such as AR—control) for a corresponding subsidiary ledger
in the transaction processing system. Figure 8-3 illustrates the structure of a typical GL master file.
The FRS draws upon the GL master to produce the firm’s financial statements. The MRS also uses this
file to support internal information reporting.
The general ledger history file has the same format as the GL master. Its primary purpose is to pro-
vide historical financial data for comparative financial reports.
The journal voucher file is the total collection of the journal vouchers processed in the current pe-
riod. This file provides a record of all general ledger transactions and replaces the traditional general
journal.
The journal voucher history file contains journal vouchers for past periods. This historical informa-
tion supports management’s stewardship responsibility to account for resource utilization. Both the cur-
rent and historical journal voucher files are important links in the firm’s audit trail.
The responsibility center file contains the revenues, expenditures, and other resource utilization
data for each responsibility center in the organization. The MRS draws upon these data for input in
the preparation of responsibility reports for management.

FI G U R E
8-3 RECORD LAYOUT FOR A GENERAL LEDGER MASTER FILE

Account Account Acct Class Normal Beginning Total Total Current
Number Description A = Asset Balance Balance Debits Credits Balance
L = Liab D = Debit This This
R = Rev C = Credit Period Period
E = Expense
OE = Equity