Balancing Your Checkbook Each month when you receive a bank statement you should reconcile or account for the difference between a cash account’s current balance (as shown in the general ledger) and the ending balance shown on the bank statement. This provides a way for you to ensure that your record of transactions matches what […]

Recording a General Journal Transaction Click General Journal in the Command Center. If necessary, enter or change the reference number and press TAB. The cursor moves to the Description field. Enter a description for the transaction. Continue filling in the rest of the fields with the appropriate information. For field explanations, see “General Journal Field […]

Using the General Journal You can use the General Journal to record transactions, such as the following: Depreciation or amortization adjustments Bank charges or fees Interest earned General Journal Field Descriptions This section discusses the individual fields on the General Journal. Recurring If you have General Journal entries that occur on a regular basis, you […]

Special Vendor Situations Reversing a Payable If you want a complete audit trail, you can use the Disc/Adjust account in Vendor Payments to reverse a payable. You can also delete the original Item Purchase or Payables Journal transaction. Deleting the original payable leaves no record of the transaction. For more information on deleting payables, see […]

Purchase Orders You can enter a Purchase Order in Item Purchases. Saving an Item Purchase as a Purchase Order does not create an outstanding payable and does not affect the general ledger until it is converted to an Item Purchase. A Purchase Order can be modified, deleted, or converted to an Item Purchase at any […]

Recording Vendor Payments When you save vendor payments as a check, MultiLedger decreases the selected cash account and decreases your accounts payable account (as assigned on Interface Accounts) by the amount of the check. While an individual check can have only one cash account and one discount/ adjustment account, you can choose different cash accounts […]

Using the Vendor Payments Window You can use Vendor Payments for any of the following situations: You need to write a check for an outstanding payable. You need to delete an outstanding payable dated prior to your current open months that was entered incorrectly when your company was set up with MultiLedger. You need to […]

Recording a Check with the Disbursements Journal Click Disbursements Journal in the Command Center. If necessary, change the cash account for the check by clicking in the Cash Acct edit box and selecting another cash account from the pop- up list. If necessary, enter or change the Check # and press TAB. The cursor moves […]

With the Disbursements Journal you can create checks for purchases that don’t involve inventory or accounts payable transactions. You can also record checks that were written manually. Saving a Disbursements Journal check automatically updates the general ledger. Important: Vendor Payments against outstanding payables should be recorded inVendor Payments, not the Disbursements Journal. Disbursements Journal Field […]

Click Payables Journal in the Command Center. If necessary, enter or change the Document # and press TAB. The Vendors pop-up list appears: Select a vendor from the pop-up list and press TAB. For details about using pop-up lists, see “Using Pop-Up Lists.” Note:  After selecting a vendor, you can see the vendor’s transaction history […]