Accounting

How do I fix out-of-balance overpayments?

Member for

4 years 5 months
Submitted by freelock on Wed, 12/07/2016 - 09:03

How do I clean up my books as a result of Issue #2346, URGENT: Use Overpayments creates accounting errors?

What you need to do is look for rows in payment_links which have type=0

Then, in acc_trans, you need to identify those rows which have an entry_id of a row which has a 0 amount. That row is probably an fx_transaction row.

The preceding entry_id row is likely one for the same transaction, with a non-zero, non-fx_transaction amount.

You need to insert a new row into the payment_links table with:

Why do VOID invoices show up in my open invoices list?

Member for

4 years 5 months
Submitted by ehu on Mon, 06/03/2013 - 14:42
I've voided an invoice in my system. Now, instead of *no* open invoices, I see *two* open invoices listed: the voided and the voiding one. How to remove both invoices from the list of open items?

If you find yourself in this situation, the answer is to create a 0 (null) payment: Select both the voiding and the voided invoice in the Cash->Payment (or Cash->Receipt) screen. This will clear the invoices against each other with a net-zero result.

How do I "undo" or reverse a payment to a vendor?

Member for

1 month 3 weeks
Submitted by Anonymous (not verified) on Tue, 05/22/2012 - 00:16

I have made a payment to a vendor, but entered an incorrect date, far in
the future. Consequently the payment does not show when I try to reconcile
the relevant bank statement.

How do I back-out the incorrectly entered payment?

Cash/Vouchers/Reverse Payment.

Then when you are done adding the payments you want to reverse,
approve the batch.

No accounts to select of GL transaction

Member for

1 month 3 weeks
Submitted by Anonymous (not verified) on Mon, 11/14/2011 - 02:25

When I open a screen to enter a GL transaction, there is no list to select accounts from. How do I know which accounts are available?

These are AJAX-completed boxes. Just wait after starting to type the account number or the beginning of the account name and a list of items to select from will pop up.

Can VAT be automatically be split off into the required VAT accounts?

Member for

1 month 3 weeks
Submitted by Anonymous (not verified) on Tue, 11/01/2011 - 02:05

Short answer: Yes

LedgerSMB can tie product sales to a tax class so that VAT can automatically be split off into the required VAT accounts on a sale, and when cancelling an invoice, automatically perform the reverse bookings.

Each product can be 'attached' to an account and the associated % will be applied automatically.

How do I account for Depreciation in LedgerSMB?

Member for

4 years 5 months
Submitted by Chris Travers on Wed, 04/25/2007 - 05:24

NOTE: LedgerSMB has a Fixed assets module as of 1.3. The FAQ below is out-dated.

LedgerSMB does not have a built-in assett tracking / depreciation feature. Depreciation can be managed manually using General Ledger Transactions. You should probably confirm this with your accountant, but the basic procedure (kindly suggested by Tony Fraser) is, assuming a computer asset over 5 years:

I'm not an accountant, how do I learn how to keep my books?

Member for

1 month 3 weeks
Submitted by Anonymous (not verified) on Sun, 04/22/2007 - 05:13

Quite a few users find some of the terminology and accounting processes a little confusing at first. Some of the more popular small business accounting packages tend to hide these aspects of book-keeping from users for simplicity, so with the current user interface there is often some new ideas to grasp.

First step is the manual - the LedgerSMB manual is free and highly recommended reading.