How to create an account in the Ledger App?

Updated on March 16, 2020 05:21AM by Admin

Apptivo’s Ledger App allows you to create ledger accounts for different account types. A Ledger account is a record of transactions. It is a separate account which is a part of other accounts present in an account type.

Ledger App in Apptivo offers the creation of two types of Accounts:

  • Accounts Master
  • Chart of Accounts

Chart of Accounts

Chart of Accounts is a list of credit and debit accounts associated with a business. You can make use of the Chart of Accounts to see the list of accounts available for a business.

Accounts Master

You can make use of the Accounts Master to create an account in the Chart of Accounts.

Consider creating an account in the Accounts Master.

  • Go to Settings → Ledger → Accounts → Accounts Master in the Ledger App. Select Create to create a new account.
  • In the Create Accounts Master side panel, add information related to automatically list the available account type for that number.

Account Name: You can add a name for the account.

Account Number: You can add an account number for the account. The series of different account types are already defined in the Account Types section of the Ledger App. Adding an account number will allow linking only for the account type with defined series.

Account Type: Once the account number is added, you can associate it to the account types based on the series within which the account number lies. Here, you can see the Account Number 120067 lies within the series of Assets and Inventory. Hence, you cannot link it to other Account Types.

Create Account Master
  • Once the configuration is complete, select Create.
Account Added

  • Now, navigate to Settings → Ledger → Accounts → Chart of Accounts. Here, you can see a Standard Chart of Accounts is already available. To add the created account to the Standard chart of accounts, select More Actions.
Chart of Accounts

  • In the Chart of Accounts - Standard, select Add to add the created account to the Chart of Accounts.
Standard Chart

  • In the Add Account, you can see the created account. Select the account and Add it.
Add Account

  • You can see the new account is added to the Chart of Accounts. You can also directly create an account by using the Create button.
Ledger Added

  • You can make use of this account to record transactions while creating a Journal.
Create Journal