Set ledger accounts
Updated
Point each posting leg at a chart-of-accounts leaf. This card does not post. Later documents read it when they write the ledger.
Note
An empty account skips that ledger line. Stock, debt, and tax still move. You will see the gap when you check the ledger. To book a correction by hand, post a journal.
How to#
To set the accounts, open Ribbon → Accounting → Settings → Accounting settings. The card is the one settings record.
Pick a leaf in each account field you need. You do not type the code: it is filled on save and the code field is hidden. Save. The profile is stored. Nothing is posted.
Groups on the card:
- Sales — Receivables account, Revenue account, Cost of goods sold account
- Inventory — Inventory account, Inventory surplus account, Inventory write-off account, Cash account
- Purchasing — Payables account, Purchase price variance account
- VAT — VAT payable account, VAT receivable account
- Payroll — Payroll expense account, Payroll liability account, Social insurance expense account, Social insurance payable account
- Production — WIP account, Labor absorbed account
- Exchange differences — Exchange gain account, Exchange loss account, Revalue on period close
Other income account is the credit leaf when Record other income leaves Income account empty.
Default currency is in Posting. Pick it from the currency dictionary; the code fills on save. Changing an account does not rewrite older documents. Repost or reverse those documents if the old ledger must change.
Example
You received 4 bolts at 25 each, VAT 15%. Goods: 4 × 25 = 100. Tax: 100 × 15% = 15. Payable: 100 + 15 = 115.
Empty VAT receivable account keeps the same stock and payable and writes no VAT line.
Later the supplier bills 4 at 30 each: 4 × 30 = 120. The gap is 120 − 100 = 20. Inventory stays at 100. Payables rise by 20: 115 + 20 = 135.
After the receipt After the invoice at 30 Inventory 100 debit 100 VAT recoverable 15 debit 15 Payables 115 credit 135 credit Purchase price variance — 20 debit
Tip
Create the chart first under Ribbon → Accounting → Dictionaries → Chart of accounts. The same Default currency also lives under Ribbon → Common → Settings → Common settings. Point Purchase price variance account at an expense leaf, not at inventory. The receipt already costed the goods; the supplier invoice only books the gap. Empty WIP account still moves production stock and writes no work-in-progress line. Empty Labor absorbed account still costs labour on the product and leaves inventory in the ledger cheaper than costing by exactly that labour.
If the command refuses#
| What you see | What to do |
|---|---|
| The save names an account as a group: postings accept only leaf accounts | Pick an account with Postable on. A heading with children is refused. |
| A sale posted and the ledger has no receivables line | Receivables account is empty. Fill it, Save, then release a new invoice. Older documents are not rewritten. |
| A receipt posted and the ledger has no inventory line | Inventory account is empty. Fill it the same way. |
| You opened Journal entries to point the accounts | That list is only manual entries. Return to Accounting settings. |
| You expected this card to post | It only names accounts. Posting is the button on the business document, or Post a journal. |
See also