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Legal Accounting 3
SECTION 6.5.2 - GENERAL
LEDGER CONTROL ACCOUNTS
USAGE: To define certain required accounts that are used
by certain programs within T.L.A.
DISCUSSION: Within you chart of accounts, you will need to
define special accounts that can be posted to by, for instance, INVOICING. You will not be able to start
a program that uses one of these accounts until the account is defined
correctly.
When you enter this function, the screen displays a
list of accounts that need to be defined. Enter a value into each field and
press <Enter> or <F10> to complete your entry. To leave this program
without updating, press <ESC>.
Name Comments
CLIENT LEDGER This account is updated by Client transactions. These include FILL-BILLS and RECEIPTING. If you print a CLIENT balanceS REPORT, the total
should match the balance of this General Ledger account.
DISBURSEMENT LEDGER This account is updated by Disbursement transactions. These include DISBURSEMENTS and JOURNALS. If you print a DISBURSEMENT balanceS REPORT, the
total should match the balance of this General Ledger account.
GST CHARGEABLE This account is posted to during BILLING with the value of the GST component of the invoice.
BILLINGS This account is the default account used in FILE-BILLS.
TRADE CREDITORS This account is updated by Creditor transactions if the
Creditor is tagged as a Trade type. These include PURCHASING and PAYMENTS.
If you print a CREDITORs trial balance, the total should match the
balance of this General Ledger account.
DISBURSEMENT CREDITORS This account is updated by Creditor transactions if the Creditor
is tagged as a Disbursement type. These include PURCHASING and PAYMENTS.
If you print a CREDITORs trial balance, the total should match the
balance of this General Ledger account.
SERVICE CREDITORS This account is updated by Creditor transactions if the
Creditor is tagged as a Service type. These include PURCHASING and PAYMENTS.
If you print a CREDITORs trial balance, the total should match the
balance of this General Ledger account.
GST PAYABLE This account is posted to during PURCHASING with the value of the GST component of the purchase.
FREIGHT PAYABLE This account is posted to during PURCHASING with the value of the freight component of the purchase.
DISCOUNT TAKEN This account is posted to during PURCHASING with the value of the discount component of the
purchase.
GENERAL BANK This account defines the default GENERAL BANK account. RECEIPTS
and PAYMENTS are posted to this
account.
TRUST BANK This account defines the default TRUST BANK account. RECEIPTS
and PAYMENTS are posted to this
account.
PAYROLL This account is optional unless you are using the Payroll
system. If not used, set it to the same as the BANK or
some sundry account.
INCOME TAX This account is optional unless you are using the Payroll system.
. If not used, set it to the same as the BANK or some sundry account.
SUPERANNUATION This account is optional unless you are using the Payroll system. .
If not used, set it to the same as the BANK or some sundry account.
Hint:
Optional accounts must still have a value. If you are not sure, attach them to
a suspense account. If a posting is made to the suspense account, you can then
journal it back to the correct account when you finalise the structure of the
Chart-of-Accounts.
To move to the next field, press <Enter>. Complete your entry by pressing <F10>. If T.L.A. has found no inconsistencies, you will
be asked to confirm your entries and then the General Ledger will be updated.
