Ledger I'm a bit stuck!

[sio...@inspired-by-glass.co.uk]

Hi,

I recently started my own business and I've been looking for an accounting system for a while. I came across Ledger the other day and it seems to be exactly what I'm looking for - BUT - I have no previous knowledge on accounting!

I've read the tutorials and watched the videos so I've figured out how to make entries, and I also think I understand now about the double entry stuff.

My current two problems are a) I'm following the instructions on how to configure my business. But, when I come to make an entry (either in 'Entries'  or 'Cashbook') and click on account (or cashbook) it's blank....

My other problem is I don't quite understand how to use cashbook. I've read some of the posts on this site about it but I just need to clarify....I have 3 months to back log so to do this do I use 'Entries' (right hand side, grey panel) just to put in my opening balance (Grant and Prince's Trust loan) and then all other entries such as sales, materials, expenses ect I put in via the cash book? Or do I enter them in both or just in Entries?

Things like this is my biggest failings but I'm hoping if I can get a hang of it now it'll be hugely beneficial, I need a basic 'stupid guide' as I know nothing of the jargon or how it all works!!!

I would be most grateful for the help!

Thank you,

Siobhan

Inspired by Glass

[sio...@inspired-by-glass.co.uk]

HI!

I've figured out in 'Maintain - Accounts' how to add accounts so that I can see them well I want to add an entry....But...When I try to add Bank and Paid-in Capital it says 'Account is referred to' and isn't in the drop down list when I try to make an entry...

[matthew....@gmail.com]

If you are not seeing accounts or cashbooks in the drop down lists it may be because you have switched to a different company for which their are no accounts or cashbooks set up.  Ledger is a multi-company system but only allows you to work with one company at a time.

 

The only reason to use a cashbook is if you wish to reconcile it with a bank statement or online bank account.  If you don't wish to do this you can make entries directly into the ledger accounts through the Entries screen.

 

A cashbook is not part of the general ledger.  In other words it is not a ledger account.  However it is linked to a ledger account.  When you make an entry in a cashbook and specify Other A/c the program will automatically create a double-entry in the general ledger and link it to the cashbook entry.  This happens behind the scenes without you being aware of it.

 

The message 'Account is referred to' appears when you try to modify the details of an account (its type or the company it is part of) when the account already has some entries in it.  If you are trying to create a new account press the <Insert> key to add a new line rather than trying to modify an existing one.

 

This is the book we recommend for anyone wanting to better understand double entry accounting.

http://www.amazon.com/Accounting-Demystified-Jeffry-R-Haber/dp/0814407900/sr=8-1/qid=1172289876/ref=pd_bbs_sr_1/002-3406192-9584856?ie=UTF8&s=books

 

[sio...@inspired-by-glass.co.uk]

I see! 

Thank you so much Matthew - I will have another shot at it not that it makes more sense! 

It's a great software - I'd highly recommend it.

Regards,

Siobhan