Books
An entity's book for the general ledger: the currency it keeps, the date it is closed through, and its statements.
A book is one legal entity's set of books for the general ledger, such as its US GAAP books. Every invoice, payment, and journal entry posts in a book.
How it works
A book keeps its balances in one currency. An entity has one Primary book per ledger, and invoices and payments post to it. It can keep Secondary books beside it, such as IFRS. A book's kind and currency do not change once you create it.
Close a period
To close a period, set the book's Lock date. Nothing dated on or before that date can post. Move the date forward as you close each period.
Read the statements
Open a book and go to Statements to see its Balance sheet, Income statement, and Trial balance, as of a date you choose. The income statement covers the year to that date. Every amount is in the book's currency.
Object: changes freely, and its history keeps the old values.
Fields
- Entity
- Link to a legal entity
- Name
Such as US GAAP or IFRS.
- Text
- Ledger
The ledger it keeps, by type, such as finance.generalLedger.
- Text
- Kind
The entity's book of record for the ledger, or one kept beside it under another standard.
- Primary, Secondary
- Currency
The ISO 4217 currency its balances are kept in.
- Text
- Lock date
Closed through this date: nothing dated on or before it posts. Closing a period moves it forward.
- Date
- Rounding account
Where the cent a posting in another currency can round off posts.
- Link to a ledger account
- Exchange account
Where realized exchange gains and losses post, when a payment settles an invoice at another rate than it was issued at.
- Link to a ledger account
- Archived
Whether the record is archived: lists leave it out unless their filter names archived; references to it stay.
- Yes or no