General Ledger

Accounting periods are used in SedonaOffice to track your Accounts within a specific period of time.  By using Accounting Periods your company may generate reports based on consistent periods from both within a fiscal year and period vs. period for ...

Each individual company according to their own business procedures establishes year end closing procedures.  Typically, a company will create a monthly accounting calendar, which sets the dates for each department to have completed all transactions ...

SedonaOffice is a complete financial application, from billing to financial statements.  As a single software program, all the modules within the application are designed so all the financial transactions are immediately posted to the general ledger...

All financial transactions created record to the GL Register table.  Each transaction saved to this table contains a unique Register Number.  The Register Number Lookup option with the General Ledger module, is used to view the entire Journal Entry ...

General Ledger Under the General Ledger Module select “Journal Entry.” Entry the Primary Account from the Drop-Down Menu. Enter the Amount under Debit/Credit Enter a Memo if needed. Select a Category if required.  Und...

This document will go over how to void a customer refund check that was printed.  These steps are being done in SedonaOffice version 6.2.0.16. Overview The steps being preformed assume the user has the correct permissions needed to do them...

General Ledger Under the General Ledger Module select “Journal Entry.” Entry the Primary Account from the Drop-Down Menu. Enter the Amount under Debit/Credit Enter a Memo if needed. Select a Category if required.  Und...

PPV is an acronym that stands for Purchase Price Variance. This refers to the difference between how much the business said their inventory parts are worth, and how much they actually paid for them. In a perfect world those two amounts would be...

WIP is an acronym that stands for Work In Process. To judge a job’s profitability, you must match money spent on the job (costs) against money made off the job (revenue).  In some cases, the job parts are purchased in one month, but the job is not i...

Whether or not debits and credits increase GL accounts or decrease them is often a source of confusion. It is not as simple as debits always increasing accounts and credits always decreasing them, or vice versa. And it is not always the case that on...

In accrual accounting a company recognizes revenue when they earn it, not when they create the invoice for it. For example, let's say a customer is billed annually in January for a 100.00 monthly RMR line. In this case the invoice would be 100 ...

Cash Accounting – tracking profit based on cash on hand. Using this method, revenue is equal to how much cash customers gave the business this period, less how much cash the business paid out that period.  Using this method of accounting is simple...

What is Accounting? Accounting – the practice of recording, reviewing, and reporting on all of a business’s financial transactions to identify the financial health of the business. Financial Statements – reports used to show the result...