Accounting Management

Ledgers are the Chartered accounts where the detail transactions are put in.

A Practice can get a temple of ledgers from there Bookkeepers or Auditors. GoodX can also supply with a standard Ledger account structure.

A basic structure can have 3 to 4 different levels, you can have as many levels as you need. Ledgers will be dived into 2 main sections, Income statement Ledgers (Income and Expenses) and Balance sheet (Assets, Liabilities, and Capital). All the Ledgers will be indicated on a Trial Balance.

The first level will be your summarized ledgers:

Income statement

INC - Income

EXP - Expenditure

Profit and loss - SCR1

Balance sheet

FIX - Fixed Assets (Employment of capital)

LTI - Investment

SDR - Sundry

CAS - Current Assets (under 1 year of use)

- Staff loans

- Debtors

- Stock

CLI - Current Liabilities

SCR - Capital (Capital employed)

LOA - Long-term Asset

- Loans from a bank for vehicles or property or big loans that is for an asset to the company

Trial balance

- Profit and Loss

- Balance sheet accounts