We have posting layer in General ledger module. 

We have custom posting layer 1 to 7 .However we do not have a provision to name the layers from the screen itself.

We had a provision to rename posting layers in Project module ->Project parameters in AX 2012 , from the screen itself, where we can rename the posting layers which in turn updates the labels.

Similarly we should have an option to rename the labels for Custom Posting layer 1 to 7 from the UI itself without customization. This would be helpful for reporting