Articles in this category Ledger Posting Journals for Beginning Balance Bills When posting Beginning Balances into Nolapro the entries will not affect the GL. If you see the attached screen shot when posting journals You don't need to enter anything. Just click Complete Bill. Checking Account GL Credits on Bank Reconciliation Please go to Ledger -> Journal Entries -> New Journal Entry. Put the name and check number in the "Voucher Description" field. Choose your checking account for one GL line entry and it will appear on ... Incorrect Data on Balance Sheet Please post your journals by going to Ledger -> Journal Entries -> Post Journals Now. Bank and/or Service Charges On the Bank Reconciliation screen there is a field for 'Service Charges'. For other charges such as credit card processing fees these charges are generally entered as a Journal Entry each month. Un-Delete a GL Account To un-delete a GL account, add the account again with the same account number. The deleted accounts will be scanned and the account matching that number for the company will be restored. Managing Fixed Assets While there isn't a specific fixed asset module, you can create an asset GL account. To do this go to Ledger -> Chart of Accounts -> New GL Account. Choose the "Account Type" of 'Fixed Assets'. Separate GL Accounts for Multiple Companies A Chart of Accounts can apply to one specific company or to all companies. When you create a new company the Chart of Accounts will copy from the main company. However, if you import a new standard se... Account Summarization First, set up an account summarization level in Admin -> Setup Ledger -> GL Summary Levels Then go to Ledger -> Chart of Accounts -> Assign Summarization. ***Make sure the accounts not being sum... Delete an Account Balance on the Balance Sheet You can either delete the supporting journal entries for that account or make adjusting entries. To make an adjusting entry go to Ledger -> Journal entries -> New Journal Entry. To delete the jo... Setup Opening/Beginning Balances Item Beginning Balances Admin -> Setup Inventory -> Item Beginning Balances Add Beginning Balance Invoices Admin -> Billing -> Beginning Balances Unpost Journal Entries Journal entries can be unposted by going to Ledger -> Journal Entries -> Reverse Journal Postings. Select the date the entry was posted on and click Reverse Post. All entries posted on that day wil... Individually Post Journals Journal entries can not be posted individually in NolaPro. Delete GL Account(s) Ledger entries and GL accounts can only be deleted one at a time. Go to Ledger~>Chart of Accounts~>Edit Chart of Accounts. If you would like assistance in deleting multiple entries, we can assis... Year End Closing To close a year go to Ledger -> Journal Entries -> Close Year. A special Journal Entry will made to close the balances in the Revenue and Expense Accounts to the Retained Earnings Account. > ... Recurring Income Go to Ledger -> Recurring Ledger Entries -> New Recurring Entries. Insert the Journal Voucher and Description. Next you will setup the ledger accounts that will be effected. When you are ready t... GL Accounts for Invoiced Orders When you invoice an order the following GL accounts are normally affected: Cost of Goods Sold Sales Inventory Accounts Receivables When the payment is made on the invoice, Accounts Receivab... Collection Agency Fee These fees are generally entered as a Journal Entry each month. For instructions on how to Add a GL account for the collections fees click here For step by step instructions on Creating a New ... Owner Draw To record an owner draw go to Ledger -> Chart of Accounts -> New GL Account. Create a new GL account called "Owner Draw". Your account type will be "Equity". Your accounts for drawing the funds ... Charge Customer for Expenses If you need to enter an expense which the business pays and then it is charged directly to a customer/client, and you do not want it to be treated as income from your client, you can enter it in as a... Loans and Long Term Liabilities 1) If you do not already have a GL account setup go to Ledger~>Chart of Accounts~>New GL Account. (Example: "ABC Bank XXX Term Loan") 2) Then, go to Payables~>Vendors~>New Vendor. Input the com... Customer Deposits Customer Deposits represents money the company received in advance of providing a service or product to a customer. Customer Deposits is classified as a current liability on the balance sheet. It is c... Delete GL from ONE Company ONLY When you edit a GL account there is a 'Company' field that lets you choose if it is for all or a specific company. Financial Statements Financial statements are generated in: Ledger->Reports->Balance Sheet Ledger->Reports-> P&L Statement Ledger~>Reports~>Detailed Trial Balance Why Is Posting Journals Required? We require the post for several reasons: 1. If someone enters incorrect entries it can more easily be corrected. 2. It does a final check for balanced entry sets before committing them. 3. It allow... Cash Book NolaPro does not have a Cash Book per se. However, you can still enter cash transactions quite easily. In Payables: Use manual check process and indicate the payment is made in cash. In Receivab... How do Transactions Affect the Bank Reconciliation When an Accounts Payables Check is written:* The "Adjusted Bank Balance" is DECREASED* The "Computer Balance" is DECREASED* The "Amount to Reconcile" remains the SAMEWhen an Accounts Receivable is rec... Duplicate GL Accounts If duplicate accounts appear it is likely that you have multiple companies set up. If you edit either of the accounts with duplicate numbers you will see that one of them is an all-company account ... Bank Reconciliation The Adjusted Bank Balance will change when you click on transactions in the bank rec. The Computer Balance is from the GL transactions to date. Adjusted Bank Balance + Computer Balance = Amount to ...