Accounting Management

Ledgers configuration 

7.8 Ledger manager 

Configuring the ledger account structure is the big work, in the future will only be adding one or two. The ledgers will grow as the business grow.

Talk to the auditors and bookkeepers, that the practice ledgers is set up correctly. Ask them to supply you with a Trail balance and Income statement to help assist in setup the ledgers on GoodX Software, also confirm that the practice is registered for VAT before you start setting up the ledgers.

You will also see what ledgers you need as you import your bank statement and have to allocate the expenses and income

You can refer back to Pastel software if the auditors are using the other system as GoodX 

VAT setup is important on each Ledger account correctly.

INC - Income Ledger account - All the Income accounts

Normal Setup will be INC1 - Professional fees

IINC2 - Material Income

INC3 - Medicine Income

INC4 - Creditors Discount

INC5 - Debtors Interest

INC6 - Other income

EXP - Expenses Ledger accounts - All the paying accounts

GoodX supply a standard Ledger structure, the company can adjust the ledgers as their needs

No-slip must be allocated to Personal drawings

The Doctor or owner must indicate what money he/she is using and for what. No VAT because this is for personal use.

There are Headers and sub-accounts, you can have as many levels as you want or need