Ledger accounts

Ledger accounts are your chart of accounts, such as 1000 Cash, 1200 Accounts receivable, and 4000 Revenue. Everything that posts to the general ledger posts to one, such as an invoice line or a journal entry line.

How it works

Each account has a number, unique in your organization, a name, and a type: Asset, Liability, Equity, Revenue, or Expense. The type decides where the account appears in the statements.

An account can roll up to a Parent account in statements, such as 1010 Operating account under 1000 Cash. One chart serves every legal entity in your organization. Every member can read the chart of accounts; only accountants change it. Archive an account you no longer use.

Object: changes freely, and its history keeps the old values.

Fields

Number

Unique in the organization, such as 4000.

Text

Name

Text

Parent account

The account it rolls up to in statements, such as 1000 Cash for 1010 Operating account.

Link to a ledger account

Type

Asset, Liability, Equity, Revenue, Expense

Control account

Only invoices, payments, and other Documents post to it, each naming a party; never a journal entry. Such as accounts receivable.

Yes or no

Reconcilable

Keeps each entry open until what settles it is applied, as a payment settles an invoice's receivable.

Yes or no

Required dimensions

The general ledger's dimensions every entry to it names, such as party.

List of text

Archived

Whether the record is archived: lists leave it out unless their filter names archived; references to it stay.

Yes or no

Next steps