Introduction
The ledger is a concept in Maxxton Software that allows you to configure your ledger accounts directly from the main administration and bookkeeping system. We recommend that you register your ledger numbers in accordance with your existing bookkeeping system to ensure consistency and accuracy. In addition, you can select the appropriate VAT or TAX tariff for each ledger, which will be used to calculate the correct VAT percentage for each transaction. With the ledgers module, you can easily manage your financial accounts and ensure accurate bookkeeping for your business.
To effectively track payments, it is important to create a ledger. However, before creating the ledger, it is crucial to carefully consider and plan the optimal structure that suits your specific needs. This will ensure that the ledger serves its intended purpose and facilitates the next step in the documentation process, which is the creation of Journals. Therefore, it is recommended that you put some thought into creating a well-structured ledger for your payment tracking needs.
Configuration
To configure a fiscal year, follow the path below:
Maxxton Home Page > Finance Manager > Configuration tab > Ledgers
Click on “Create ledger” at the top right. Add the ledger name and ledger number, link the related VAT (if applicable), choose for the ledger type (if applicable) and/or cost center (if applicable) and enable the needed toggles.
Split ledger on financial transaction report
A journal report is composed of a journal detail pages, i.e. journal entries and a cover page containing the balance per ledger. In case the toggle is enabled then the balance per ledger is omitted from the cover page and only details are shown.Holding report ledger
In case this toggle is enabled, then the (revenue/contra revenue) resource for which the ledger is applicable will be marked on the ‘Holding report’ available in the Newyse Print Report module.
When it comes to internet payments, such as those made through Mastercard, it is only necessary to input the name and ledger number. Unlike other types of payments, VAT is not required for these transactions. However, it is possible to include a description if desired.
Once you added the required information, click on “Create”. You should now see the new ledger in the list.
Conclusion
The ledger is a concept in Maxxton Software that allows you to configure your ledger accounts directly from the main administration and bookkeeping system.