Having too many General Ledger (GL) accounts or codes in the chart of accounts in a bank or financial institution for the similar transactions or purposes but with different attributes such as Currency, Branch and Cost Center may be inconvenient, due to the great effort required to maintain them.

Seemingly, by specifying these attributes as segments, banks or financial institutions can avoid the hassle of needing to maintain too many GL accounts or codes in their charts of accounts, in order to represent the same GL properties.

Therefore, this function will come in handy by allowing users to create the relevant GL segment schemes for use across the system.

In system, the maximum of nine different GL segments can be created as attributes of a chart of accounts, while each GL segment may have many possible GL segment values.

GL segment values are required to be pre-maintained, o be used together with the GL accounts or codes and other required GL set-ups in CS module and GL module (whether within the same system or in another system) in order to capture the related banking transactions' accounting entries.