Has anyboby seen, heard of, or used a 'system / setup' whereby one can post to the G/L, but also potentially post to parallel ledgers in place of the G/L.
I'm assuming here that AP [PL] and AR [SL] is just a sub-part of the full GL.
I work for a software company and half the journal goes to the GL, but the other half goes to a RA ledger with a different syntax/string in the chart of accounts. And where debits are realy credits and vice versa.
Not sure what effect this has on the P&L or BS but I'm only temping here, thank goodness.
Needless to say it is quite confusing.
Raymond Downham
Replies (3)
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A little knowledge is a dangerous thing ...
but none can be far worse! Raymond, I assume from your questions that you don't work in acounts? Can I suggest that you maybe ask them for a bit of help?
Sound normal to me
Book-keeping is a mixture "Double Entry - credits v debits" with Control accounts. So often credits are shown as debits - and vice versa.
This sounds like the system/setup you are using.
Perhaps you should do a book-keeping course and then you'll understand what you are doing?
done my book-keeping course now....
......seems to me that control accounts are a little old fashioned, IMHO.
Quoting my book-keeping book..... "In computerised systems, it may be feasible to use sales ledgers without the need for operating seperate control accounts"
Surely that is pretty standard these days ?
Seems a little superflous for computerised systems (big or small) to do the debit, the credit , and a memo entry. When just the dr and cr will suffice ?
I can understand memo entries in the good old days of quill (sp) pens and heavy tomes of hand-written entries, like the sales day book, etc. Presumably errors were commonplace and a means of double checking was paramount.
Checking the 'system' where I work, I discover that there are....
4 Chart Types
33 Chart Names
266 Ledgers.
266 Ledgers, is that normal ???
Of course, having a structured nomoculture (sp) would help things a little, but that my be a little too sensible.
Finding the right journal type (same nomoculture disarray), let alone the right ledger is a mission in itself.
Anyway, in 15 years, I never recall 266 ledgers.
Anyone else ???