General Ledger Accounts

General Ledger>Configuration>General Ledger Accounts 

 Setup General Ledger accounts in both the Tree view and Search tabs 

 

 Accounting formula 

 General Ledger accounts are based on accounting formula 

 Owners Equity = Assets - Liabilities 

 Accumulative profits contains income accounts: Sales, Cost of Sales, Income, Expense, Taxation 

 

 

 

 Ledger account 

 The system allows for unlimited levels down in setup. 

 Posting is done to the lowest level. 

 Reporting can be done at each level. 

 Levels are counted from the first level on left and moving to the right. 

 

 

 

     

 

 

 

   

 

   

   

 Counting the levels in the system. 

 Notice that reporting is done on the lowest level, however you can report on higher levels.