General Ledger lets you add transactions that affect your balance sheet or profit and loss.
Use the Find box to find a string in ~Memo~ToFrom~. Use the Start and End fields to
specify a date range for the records. The default Start is the beginning of the current
If you click on a blue link at the top of a column, the records are sorted by that column.
Click the link again to sort in descending order. Hover over the link to see the secondary
Use care when selecting the Account and Cash Account fields. If you make a loan TO shareholder
or repay a loan FROM a shareholder, the Amount is normally negative. If a check is created,
enter the CheckNo. Enter a negative number to track ACH, wire transfers and Paypal transactions.
Click the Check button to print a check to the default printer using a GL record. Enter the
check number when that is done. This will be used when reconciling the check register.
Click the blue Tax link at the top of the form to add 8.25% to the Amount for purchases. Enter
each item purchased on a separate line to simplify inventory. Select the Kit for Fixed Assets.
InvoiceID is automatically added when you mark an invoice as paid through the Payment form.
Sel is checked on the records that are awaiting deposit. Click Undeposited to see the total
of those records. When they are deposited, click Deposit to assign a DepositID, create a
Deposit record and remove the Sel check.
The accounts are set up, but you can add your
own too. Assign items
to a kit for inventory control. Only supervisors may see the GL form and reports.|
Here are some sample transactions using the above accounts:
|Sale of stock to SH||SH Equity||Checking|
|Repay loan From SH. Amt<0||Loans||Checking|
|Invoice income||Inc from Consulting||Checking|
|Property to equity||Fixed Assets||SH Equity|
|Pay fed tax||Tax||Checking|
|Sales tax collected||Sales Tax Coll||Checking|
|Buy fixed asset by SH||Fixed Assets||Loans|
|Paypal loan to SH. Amt<0||Loans||Checking|
|Depreciation on 12/31||Depreciation||Fixed Assets|
|Phone expense pd by SH||Other Exp||Loans|
|Mileage expense||Other Exp||Checking|
|Dividend to SH. Amt<0||SH Equity||Checking|
|Trash fixed asset. Amt=0||Fixed Assets||Checking|
|Cost of Goods Sold||Fixed Assets||Checking|
|Cost of Goods Sold||Fixed Assets||Loans|
|Sale of inventory||Sale of Inv||Checking|