Ledger Management - General Ledger Accounts

Overview#

A General Ledger is the primary accounting record for an organisation. It documents all financial transactions in various accounts.

Transactions are posted to the General Ledger, which is then used to generate financial statements like the Statement of Financial Position and the Statement of Profit or Loss.

💡These tutorials explain how to view General Ledger Accounts and Transactions. They also explain how to create General Expenses, General Journals and General Income. 

Viewing Ledger Accounts and Transactions#

How to View a Ledger Account#

1. Navigate to the Ledger.
2. Select preset dates next to Set or enter specific dates.
3. Filter = Select Ledger Account from the dropdown list.
4. Account = Select a specific account or select All.
5. Click View (button).

How to View General Ledger Transactions#

1. Navigate to the Ledger.
2. Select preset dates next to Set or enter specific dates.
3. Filter = Select Transaction Type (Transactions) from the dropdown list.
4. Transaction = Select an applicable Transaction Type (e.g. Expenses, Other Income, General Journal).
5. Click View (button).

How to View General Ledger Transactions in Detail#

1. Navigate to the Ledger.
2. Select preset dates next to Set or enter specific dates.
3. Filter = Select Transaction Type (Items) from the dropdown list.
4. Transaction = Select an applicable Transaction Type (e.g. Expenses, Other Income, General Journal).
5. Click View (button).

Creating General Ledger Transactions#

How to Enter Expenses#

1. Navigate to the Ledger.
2. Click the arrow on New (button) > Expense (EXP).
3. Enter the Date and Period.
4. Expense (Dr) = Select the expense Account.
5. Bank (Cr) = Select the Bank account from which the expense was paid.
6. Amount = Enter the VAT Inclusive Amount paid.
7. VAT = Select the applicable VAT Type from the dropdown list next to amount.
8. Inc/Exc = Select whether the amount includes (Inc) or excludes (Exc) VAT from the dropdown list.
9. Enter a Reference and Note.
10. Change the Status of the transaction to Complete.
11. Click Save (button).

How to Create Other Income Transactions#

1. Navigate to the Ledger.
2. Click the arrow on New (button) > Other Income (INC).
3. Enter the Date and Period.
4. Bank (Dr) = Select the Bank account into which the income was paid.
5. Other Income (Cr) = Select an income account (e.g. Interest Received).
6. Amount = Enter the VAT Inclusive Amount received (or the full amount if VAT does not apply).
7. VAT = Select the applicable VAT Type from the dropdown list next to amount.
8. Inc/Exc = Select whether the amount includes (Inc) or excludes (Exc) VAT from the dropdown list.
9. Enter a Reference and Note.
10. Change the Status of the transaction to Complete.
11. Click Save (button).

How to Create General Journal Entries#

1. Navigate to the Ledger.
2. Click the arrow on New (button) > General Journal (GJ).
3. Enter the Date and Period.
4. Amount = Enter the Amount.
5. VAT = Select the applicable VAT Type from the dropdown list next to amount.
6. Inc/Exc = Select whether the amount includes (Inc) or excludes (Exc) VAT from the dropdown list.
7. Enter a Reference and Note.
8. Debit (column) = Select the account that must be debited.
9. Credit (column) = Select the account that must be credited.
   • For more entries, click Add Item (button).
   • To view how the journal will be posted, click Trial (button).
10. Change the Status of the transaction to Complete.
11. Click Save (button).

How to Set Up Recurring Transactions#

1. Create a Transaction that repeats monthly.
2. Click Recurring (checkbox) when the transaction is still in a Pending status.
3. Click Save (button).
   • Note: You can also edit existing entries and mark them recurring.

How to Create Recurring Transactions#

1. Navigate to the Ledger.
2. Select Menu (button) > Open Recurring.
3. Click a transaction and click the Copy (icon) to open a prefilled entry in the ledger.
4. Change the Date and Period to the current month.
5. Change the Status to Complete.
6. Click Save (button).
   • Note: If you copy the transaction and then delete it, it will also delete the recurring transaction. To create a recurring transaction again, go to the previous month's transaction, edit it and check the recurring checkbox.

How to Print Ledger Accounts or Transactions#

1. Click Output (button) to display a dropdown list.
2. Click Print to print the report to the default printer or click Print (Show Dialogue) to select a printer (e.g. a .pdf printer).
3. Select Detailed Ledger or Transactions from the dropdown list.

How to Output Ledger Accounts or Transactions#

1. Click Output (button) to display a dropdown list.
2. Click Preview to display the Transaction Items or Account on screen.
   • Note: You can click the printer icon to choose a printer, including PDF.

How to Email Ledger Accounts or Transactions#

1. Click Menu (button) > Email Excel to email the list of Transactions in Excel format.
2. Click Output (button) > Email > Detailed Ledger to email the Ledger account in PDF format.
3. Click Output (button) > Email > Transactions to email the list of Transactions in PDF format.