How to add new account name or ledger?

You can add a new account or ledger name under any of the main groups. You can add a group as per your need. The main groups are:

  • Income: like- Maintenance Charge, etc.
  • Expense: like – Salary, etc.
  • Assets: like Sundry Debtors, Cash, Bank, etc.
  • Liabilities: like Sundry Creditors, Tax, etc.

To add a new account:

  • Go to Accounting -> Account Master

society accounting system

 

  • You will see the accounting charter or account master. Enter details:
    • Account Name
    • Select Group
    • GL Code  ( General Ledger Code)

society accounting system

 

  • Click  Add to save the new Account

Opening balances are normally added at the beginning of the financial year. The Indian accounting System’s financial year start from April 1st.

To add opening balance:

  • Go to Accounting-> Account Master

society accounting system

  • On account master or account charter UI, you can see the option to add Opening Balance at the top. You can edit opening balance by clicking the button ‘Update Opening Balance’ against each account.

society accounting system

 

  • On click of Opening Balance, You can see the UI where you see different groups.
    • Select a particular account.
    • Fill details like date, opening balance, debit or credit then save.

society accounting system

 

Load More

We create groups so that different ledgers can be merged and viewed together for better understanding. For example, All customer accounts grouped under Sundry Debtors.

To add a new group:

  • Go to Accounting -> Group Master

society accounting system

 

  • You will see all the existing groups. To add a new group, fill the details under any of primary group. The primary groups available are:
    • Income: like- Maintenance Charge, etc.
    • Expense: like – Salary, etc.
    • Assets: like Sundry Debtors, Cash, Bank, etc.
    • Liabilities: like Sundry Creditors, Tax, etc.

society accounting system

Load More

 

Comment on this FAQ

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.