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Gingerbread People of 2020
I am about to get an offer from societe generale. If my variable pay is 3 lakhs, for 1st rating will i get 3 lakhs and for 3rd rating just 1 lakh? Please help to understand this and how is the yearly hike and what are the other benefits and technology stack. I heard Work life balance is really good. I have 8.5 years of experience - offered 22 as fixed and 5.5 as variable apart from PF and gratuity. Is it good to join ? How many leaves do we get per year ? Request to assist.Societe Generale Societe Generale Glo
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General ledger is the listing/transactions of what makes up all the accounts in the trial balance - usually they are pretty massive. Sub ledgers are pretty much subsets of the GL based on the account your looking at. So there could be a subledger for AR, which should be a subset of the GL and tie directly to the TB.
Not necessarily- often JEs are summarized and posted to the GL based on info from the subledger, sometimes automatically, sometimes manually. So subledger datasets can be larger, eg each sales transaction, but only one JE may be posted, eg total sales for a day at a given location or product class etc. OTOH each transaction may be posted to the subleger and the GL based at the same, unaggregated, basis- but the subledger still has more info about the transactions stored. Depends on how the system is configured, usually depending on the volume of transactions.
Sub ledgers are a war crime committed by clients against their auditors
Nope
Kindly educate me
Chief
Just think of it as different modules/datasets within the GL system. GL is where journal entries are posted. You run trial balance from GL which essentially make up your BS and IS. Its your main ledger/database. Standard data within GL is dates (posted and effective), entity, account, amount, currency, description and a few others. Subledgers are different ledgers/modules within GL system. There is a few standard. Fixed assets, AP, AR. Some companies have others. They are used to record specific types of items and are more customized than GL. I.e. in the fixed assets subledger you can record PPEs. Subledger is more customized to the type of transaction. I. E fixed assets subledger can calculate depreciation based on inputs you set when adding the aset (i.e. life, rate etc). You can run reports from subledger that show a lot of data for items (type of assets, date added, depreciation rate erc). From gl you can only run TB or JE log. And so when you add a fixed asset to your system you add it to subledger. And then you run your month end and it'll automatically recorded entries from subledger to GL (for additions, disposal, depreciation etc)
Yes
No, I've asked so many times what a subledger is. No one can tell me. It keeps me up at night. Pls help.
Can you think of more questions like that? ie seemingly dumb question where staff level people generally don’t know? I’d love to coach my teams about this stuff, but don’t want to come off rude trying to explain them what 1+1 is. I kinda forgot the questions I had as a staff or senior that resolved themselves over the course of my career
Lol I have so many questions throughout the day. I'll come back next week and post them here (assuming I remember).
Yes, why?
I know what a sub ledger is now had but only learned after I exited to industry. Pretty straight forward, mostly. Not once was it ever explained or even mentioned during 5 years of audit, which is kinda shocking in retrospect. Quick edit: I did work on some pretty niche industries.