The ArapXML project has begun development of a 'General Ledger Information Entities (GLIEs) Library' designed to "support the payloads passed between General Ledgers, Accounts Receivable/Accounts Payable (AR/AP) systems, and ebXML business collaboration software." In this context, a Generally Ledger is conceptualized as a "collection of records denoting the increases and decreases in resources of an Owner over time, together with classifications and descriptive information sufficient for reporting of the results of operations for periods of time, and financial position at points in time." The GLIE library "will consist of information entities such as dates, times, parties and products (data elements) suitable for registration in an ISO 11179 metadata registry or ebXML registry/repository, or as a native application interface. The library elements will represent any discrete economic resource flow or commitment that can be quantified in money or unit measures, as well as the adjustments and summarized totals which are found in ledgers and other systems. The library will consist of Core Components (CCs) and Business Information Entities (BIEs) compliant with the ebTWG specification for Core Components, UML models, and XML schemas for each usage scenario generated from the UML models. The library will provide a UML models which describe use cases for passing transaction data between a variety of business objects such as web services, legacy accounting ledgers and business applications... By adopting the GLIE library and ebXML registry/repository, business may align the semantic content and grain of their internal metadata with globally standard data element names and definitions (ebXML Core Components) used in external transactions with trading partners."

GLIE library scope. The primary scope of the GLIE library is captured in the following requirements:

• financial reporting (including financial statements under GAAP)
• tax reporting (measurement of taxable income, sales subject to VAT, etc.)
• cash flow reports and management, including basic optimization of interest yields/costs
• fiscal control and internal control over resources, e.g., assets managed by subledgers, hosted services, etc.
• payables and receivables management and settlement
• management of inventory and other non-monetary resources
• fiscal control and oversight over multiple applications,
• foreign currency translations, and
• consolidation and elimination for reports of multiple business entities