When the debit and credit items are transferred from journal to the specific ledger accounts, the process is called as Posting. The rules with respect to the ledger posting are discussed as under: Individual accounts are to be opened in ledger book for each group, i.e. purchases, sales, ca...
For example, the format mask 99,999 uses a comma, while the format mask 99*999 uses an asterisk as the thousands separator.Note: For the thousands symbol to have meaning, you must enable the General Ledger profile option Currency: Thousands Separator....
Change sign:General Ledger stores debits as positive numbers and credits as negative numbers. FSG will print such values with their respective signs. You can choose to change the sign, printing debits with negative signs and credits with positive signs. For example, to print revenue (credit) amo...
Let’s post thejournal entriesthat Paul’s Guitar Shop, Inc. made during the first year in business to the ledger accounts. As you can see, all of the journal entries are posted to their respective T-accounts. The debits for each transaction are posted on the left side while the credits...
aThe accountant’s traditional general ledger is a wonderful instrument for what it is designed to do:post and summarize transactions into specific account balances. But the cost data in this format (salaries, supplies, depreciation) are structurally deficient for decision support, including measuring ...
Country/Region Code Field, VAT Registration No. Format Table General Ledger Line No. Field, VAT Registration No. Format Table General Ledger Country/Region Code Field, VAT Registration No. Format Table General Ledger Format Field, VAT Registration No. Format Table General LedgerSee...
Note:Entries get posted in a cash book which is a subsidiary ledger. The balance is carried forward to the general ledger to make it less cluttered. Types of Cash Book 1. Single-Column Cash Book A single-column cashbook is the simplest form. It has just one column each fordebit and cr...
Guide to what is Stores Ledger. Here, we compare it with bin card, and explain its format, examples, advantages, & disadvantages.
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G/L Account - The G/L Account field is available only for the following Transaction Types: Interest Income, Other Income, Other Expense, and Service Charge. Enter the G/L Account Number of a General Ledger Posting Account for the adjustment that will be gener...