Transaction Examples – Ledger
- Ledger transactions refer to accounting transactions that are not part of production processes.
- Fields (columns) with no data are hidden in the screenshots.
Bank Payments – General
- Use Bank Payments to record operating expenses, the purchase of assets, loan repayments and other bank payments.
- A ledger account is debited, and either bank or cash is credited.
- The Accounting report shows which accounts are debited and credited and is accessed by clicking Menu (button) > View Accounting.
Bank Receipts – General
- Use Bank Receipts to record income that is not part of a customer transaction (for example, interest earned and proceeds from the sale of assets).
General Journal
- Use the General Journal to record transactions in a ledger that have no underlying source documents (e.g. depreciation, accruals) or occasional entries such as capturing loan agreements.
- Instead of using the General Journal, you can create a specific journal for each type of entry.
- See Ledger Transaction Tutorials for examples of specific transactions.
Payroll Journal
- Use the Payroll Journal to record salaries, wages and related expenses.
- See Ledger Transaction Tutorials for an example of a payroll journal.
Periodic Journal
- Use the Periodic Journal to create month-end journals (e.g. to transfer stock on hand to cost of sales).
- See Ledger Transaction Tutorials for an example of a periodic journal.
