Use of ledger settlements

Hi ,

What is the use of the ledger settlements in Ax 2009 ? Can any pioneer explain the functionality with a business scenerio ?

Thanks in advance.

The ledger settlement is one of the main tasks performed by General Ledger accountant during monthly closing process, this function settle a ledger account transactions debit against credit, against debit. It is mostly used with clearing accounts, accruals accounts; its effect shown in ledger account transaction list only shows the unsettled transactions.

Pranav…

Would you agree that it would be great enhancement if the Ledger Settlements form could be adapted in a way that we would see only nominated GL accounts - clearing accounts, suspense accounts, accrual accounts. I find it it not very smart. For example why bring all the Inventory Transactions postings in if we know that settlement offsets won’t be found.

Have any other users found good ways to make this “sledge hammer” more user friendly.