Ledgers and Bank Configuration

Ledgers and Bank Configuration

Ledger is an account created to record all the Financial transactions for business assets,liabilities,revenue and owners equity.User can create and record ledger information related to various vendors,staff,students,fees or things separately in Finance module which enables business to look at the accumulated figure of each account.User can also create separate Ledger accounts for various assets and liabilities which helps account section to see the financial position.Finance admin to configure the Bank and Account details for the various purpose like Receive Payment,Make Payment and other accounting purpose.

Roles

Finance Admin

Path

Finance Admin » Accounting » Accounting Configuration » Ledger

Terminology

• Account of- Type of commodity (like Customer , vendor, bank, student,fee, etc)
• Resource name :- You can map ledger to any of the master.
• Ledger Name:- General Ledger name
• Ledger Alias:- Alias name for Display on receipt
• Type of Account – Personal, Nominal, Real
• Group:- Most important attribute, this is called as Account group, it’s a parent attribute for ledger.
• Is Tally Individual Entry ?- Mapping with tally
• Statutory / Tax Applicable ?- define if any Tax related ledger like TDS.
• Is Cost Center ?- Condition for cost center, its kind of specific location / department.

Inputs Needed

• Account of
• Resource name
• Ledger Name
• Ledger Alias
• Type of Account
• Group
• Is Tally Individual Entry
• Statutory / Tax Applicable
• Is Cost Center

Functionality

1. Able to Add/Edit/Block Ledger
2. Able to Import Ledger Using Excel
3. Able Add multiple Ledger of same type
4. Able to Export Ledger details in Excel

Step by Step

Ledger

Add Vendor Ledger

Add Multiple New Account

Block Vendor Ledger