Automatically Calculated Accounts

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There are two accounts within the general ledger that cannot have any transactions posted to, nor opening balances entered. They are the Historical Balancing and Current Year Earnings accounts.

 

There is also an account to which transactions cannot be posted, however an opening balance can be entered in the first year using Jim2. That account is the Retained Earnings account.

 

hmtoggle_arrow1Historical balancing account

 

hmtoggle_arrow1Profit and loss accounts

 

hmtoggle_arrow1Current year earnings account

 

hmtoggle_arrow1Retained earnings account

 

Info

Note: You cannot post directly to Header or Control accounts as well.

 

Further information

General Ledger Account Types

General Ledger at a Glance

General Ledger Footer

General Ledger Reports

Linked GL Accounts

Add a GL Account

Add Opening Balances

Change GL Account Type

Edit the General Ledger Layout

Maintain the General Ledger

Print General Ledger Transaction Reports

Set Up General Ledger

Accrue Annual Leave in the General Ledger