Articles in this category Ledger Posting Journals for Beginning Balance Bills When posting payables Beginning Balance Bills into NolaPro, the entries will not affect the GL. Beginning Balance Bills provide a way for you to enter vendor bills into NolaPro from a prior system wit... Checking Account GL Payments on Bank Reconciliation If you need to record income to a bank account and have it show on the bank reconciliation without linking the payment to a specific customer account, create a journal entry by going to Ledger -> J... Incorrect Data on Balance Sheet Only GL entries that have been posted will appear on the balance sheet and profit and loss statement. Please be sure to post journal entries before running these reports by going to Ledger -> Journ... Bank and/or Service Charges If you are assessed bank charges or earn interest on an account, you can add these amounts automatically as GL entries while completing a bank reconciliation (Ledger -> Bank Reconciliation). On the... Undelete a GL Account To undelete or recover a GL account that had been previously deleted, add a new account with the same account number as the deleted account (Ledger -> Accounts -> New GL Account). The system wil... Managing Fixed Assets You can keep track of GL balances for fixed assets by creating GL accounts (Ledger -> Accounts -> New GL Account) and setting the Account Type to Fixed Assets. You can manage fixed assets more i... Separate GL Accounts for Multiple Companies General ledger accounts can apply to one specific company or to all companies. When adding a new GL account (Ledger -> Accounts -> New GL Account) you can specify the company with the Specific C... Account Summarization You can set up multiple GL account summary grouping schemes for use in Balance Sheet and Profit & Loss Statement reports. Each account has a Standard summarization level that you can specify when ... Delete an Account Balance on the Balance Sheet If you need to remove an account balance that is showing on your balance sheet, you can either delete the supporting journal entries for that account or make adjusting entries to nullify the current t... Set Up Opening/Beginning Balances To set beginning on-hand levels for inventory items, you can use Admin -> Inventory -> Item Beginning Balances. This process will allow you to set inventory levels for items without affecting th... Unpost Journal Entries Journal entries can be unposted in bulk (unless in a closed period) by going to Ledger -> Journal Entries -> Unpost Journal Entries. Select the date the entry was posted on (Unpost Vouchers Post... Individually Post Journal Entries Journal entries can only be posted individually in NolaPro by using the Automatically Post GL Entries add-on available in the Corporate version. This add-on will automatically post GL entries to the m... Delete GL Account(s) General ledger entries and GL accounts can only be deleted one at a time. To remove GL accounts go to Ledger -> Accounts. Select the account you'd like to delete and click the Delete button. Deleti... 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 and move the net amount to the Retained... Recurring Income If you would like to create recurring general ledger entries that can be copied regularly for recurring income, expense, or other entries, go to Ledger -> Recurring Entries -> New Recurring Entr... GL Accounts for Invoiced Orders When you invoice an order, the following GL accounts are normally affected:Cost of Goods Sold (Debit)Inventory (Credit)Accounts Receivable (Debit)Sales (Credit)When the invoice is paid, Accounts Recei... Owner Draw To record an owner draw you will need to have an equity GL account set up. Go to Ledger -> Accounts -> New GL Account, if you need to create a new account.If you are making a new Owner Draw acco... Charge Customer for Expenses If you need to pass on expenses to customers, you can add expenses on Service Orders (Income -> Orders -> Service Order) by clicking the Add Expense button when editing a Service Order. You can ... Loans and Long Term Liabilities One way you can manage loan repayment in NolaPro is to have the system automatically create vendor bills for the term of the loan and pay those bills each month. 1) Start by creating a long term liabi... Customer Deposits Customer Deposits represent money received in advance of providing a service or product to a customer. Customer Deposits are classified as a current liability on the balance sheet because the company ... Delete GL Account from ONE Company ONLY When you edit a GL account there is a Company field that lets you choose if the account is for all companies or a specific company. If Company is set to All, then when you remove the account, it will ... Financial Statements The primary financial statements can be found by going to: Ledger -> Reports -> Balance Sheet Ledger -> Reports -> Trial Balance Ledger -> Reports -> Profit & Loss Statement Ledg... Why Is Posting Journal Entries Required? NolaPro requires a posting step for general ledger entries for a few reasons: 1) In some cases in the system, if a GL entry is not posted yet, and its originating source record is edited or deleted, t... Cash Book If you would like to see a running total with ins and outs for a cash or bank GL account, you can go to Ledger -> Reports -> Account Activity. Select the Begin and End Period for the entries. Ma... How do Transactions Affect the Bank Reconciliation When an Accounts Payables Check is written, but not marked off on the Bank Reconciliation:* The "Adjusted Bank Balance" is DECREASED* The "GL Balance" is DECREASED* The "Amount to Reconcile" remains t... Duplicate GL Accounts If duplicate GL accounts appear, it is likely that you have multiple companies set up, and one of the accounts is set to apply to all companies, but the other is not. If you edit either of the account... Bank Reconciliation The Adjusted Bank Balance will change when you mark off transactions in the bank reconciliation. The GL Balance is the net value of GL transactions for the bank GL account through the date of the bank...