This section guides you through the process of adding a new financial ledger in the system.

Overview

To add a new financial ledger, navigate to Setup > Accounting > Financial Ledgers.

Ledger Details

When adding a new financial ledger, you'll need to provide the following crucial information:

• Main Account Number: This is a mandatory field. Each ledger must have a unique main account number.

• Sub-Account Number:

  • General ledgers will use "0000" as their sub-account number.
  • Important: You must create the general/main ledger first before creating any sub-ledgers.

• Control Account Option: This setting defines the relationship between main and sub-ledgers. Select the appropriate option based on the main ledger's control account type:

  • If the main ledger's control account is General, select General for the sub-ledger.
  • If the main ledger's control account is Bank, select Bank Sub-Ledger for the sub-ledger.
  • If the main ledger's control account is VAT, select VAT Sub-Ledger for the sub-ledger.
  • If the main ledger's control account is Cash, select Cash Sub-Ledger for the sub-ledger.
  • If the main ledger's control account is Interest, select Interest Sub-Ledger for the sub-ledger.
  • If the main ledger's control account is Creditor, select Creditor Sub-Ledger for the sub-ledger.

• Description: Provide a clear and applicable description or name for each ledger. This field is required.

• Control Account Type: This is a mandatory field. Select the correct control account type for the ledger. Most accounts will be General, but other options include:

  • Client (used for your debtors control account)
  • Creditor
  • Creditor Sub-Ledger
  • VAT
  • VAT Sub-Ledger
  • Cash
  • Cash Sub-Ledger
  • Bank
  • Bank Sub-Ledger
  • Interest
  • Interest Sub-Ledger

  Note: You can only record transactions against ledgers set with a General or Sub-Control Account type.

• Financial Report: Specify whether the ledger's balance will appear on the Statement of Financial Position (Balance Sheet) or the Statement of Financial Performance (Income Statement). Sub-ledgers will automatically inherit the setting from their main account ledger. For your debtors control account, select the Client control account.

• Display in Financial Category: This field determines where the ledger's balance will be displayed on financial reports. If you're unsure which category to select, consult with your accountant. This category is solely for financial reporting purposes.

• VAT Type: This is a mandatory field. Select the appropriate VAT type if VAT is applicable to the ledger. Generally, you'll select Input VAT for expenses and Output VAT for revenue. This setting must align with the setup on the corresponding event.

Integration Specific Fields (Bank Ledgers Only)

Amber Integration

For bank ledgers integrated with Amber, complete the following information:

• Merchant CSP: Amber
• Merchant Account Number: This information is provided by Amber.
• Merchant Branch Code: 410600
• Merchant Account Type: Savings
• Merchant Reference: The GID Number provided by Amber.

RealPay Payout Integration

For bank ledgers integrated with RealPay for payouts, complete the following information:

• Merchant CSP: RealPay
• Merchant Reference: The reference number supplied by RealPay.

Available Buttons

• Save: Click to permanently store the entered information.
• Cancel: Click to return to the previous screen without saving changes.