General ledger

The book every other module posts into: accounts, periods, multi-currency entries, reversals and a trial balance.

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What it does

• A chart of accounts with account types, which you control
• Monthly fiscal periods that can be closed, so nothing is posted into a finished month
• Entries in any currency, booked in your base currency at the rate on the entry date
• Reversals that undo an entry at its original amounts, even after rates change
• A trial balance as at any date, where debits must equal credits

Who it is for

Any business that needs correct books, from a two-person firm to a company with several branches.

Highlights

• Every sale, bill, payment and stock movement lands in the ledger the moment it is saved
• Balances in your base currency, with the rate for each day kept on record
• Month-end close that locks a period, so finished months cannot change by accident
• Reports ready to hand to your accountant: trial balance, profit and loss, and balance sheet

Works with

Sales and invoicingPurchasing and suppliersBank feedsPayroll and HRYour accountant's review

Questions about this module

Services

• Chart of accounts design for your business
• Opening balances migration
• Monthly close support
• Multi-currency setup

Functions

• Post journal entries in any currency
• Close and lock fiscal periods
• Reverse an entry without editing it
• Trial balance as at any date
• Exchange rates by effective date

How it works

1. Set up your chart of accounts and fiscal year once.
2. Post each sale, bill and payment as it happens, in its own currency.
3. Close the month, and review the trial balance before anyone signs off.

A typical example

A shop in London buys stock in dollars. The bill is booked in the local currency at that day's rate, and the owner can see the cost on the same report as the local sales.

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