Category: (2) TAM Application Type
Application Identifier: 5.9.2
Maturity Level: 4
Journalization applications provide the capability to analyze and translate customer financial activities into records that can then be sent to the corporate general ledger.
The Journalization Application is responsible for analyzing and translating financial activities into journal records. Specifically, Journalization assigns financial codes to the transactions received from billing, online adjustment, payment, refund, and collection processes. This application accumulates journal entries and maps them to the GL transaction based on criteria such as appropriate geographical accounting principles for sending downstream to the corporate general ledger.