Ledger Account

Masters=>Ledger Account

       Ledger account heads are the referencing elements of accounting transactions. It is possible to create any number of Ledger Accounts in InvoiceNET® Lite. During their creation we can specify the group, opening balance, address details etc.

        If you want to track Sales and Cash Receipts for a customer, create a ledger account for that particular customer. All the transactions and balance of that customer for a given period of time can be listed out by choosing his/her ledger account.

  • Step 1
    • Click Masters=>Ledger Account to create, modify or delete ledger account as shown Step 1 figure 
  • Step 2
    • Now ledger account creation window is appeared as shown in Step 2 figure 
  • Step 3
    •  User have to fill the text boxes as shown in Step 3 figure
      • Name=>Account Name is the identifier of a ledger account. Ledger Master does not allow duplicate account names. Account name takes maximum 50 alpha numeric characters. Avoid single quotes (‘ or ’) in Account Name.
      • Description=>Enter Description for Account Name if needed
      • Statutory Classification=>Select ledger statutory classification. (Ex) while creating registered customer ledger, set ‘Registered Dealer/ Mfr. Also you can skip this by setting  ‘__Not Applicable__’
      • Group Name=>Any of the predefined Ledger Groups can be selected as Group Name. Improper selection of groups may cause unwanted results in Final Reports. 
      • Opening Balance=>Opening balance value of a Ledger Account for a particular financial year start.
      • D/C=>If the opening balance is Dr. set Debit or Credit ‘D’ otherwise ‘C’.
      • While creating Customer/Supplier ledgers , the below said options are enabled to give their address, contact details, gstno, etc …
        • Formal Name
        • Address
        • Place
        • PO Box No
        • City
        • Country
        • GSTIN
        • State
        • Phone
        • PIN
        • EMail
        • Contact Person
        • Mobile
    • After filling above text boxes, need to click save button to create a new ledger account