Add general ledger accounts for project journalising

Add the ledger accounts that you need in the article groups, integration types and integration accounts for journalising the invoices to Profit Financieel.

To add a general ledger account:

1. Go to:Financial / Ledger / Ledger account.
2. Click on: New.
3. Enter the account number.

   In the Financial settings, you can determine the limits your account numbers should be within.

   Do not use consecutive numbers, but leave room so that you can insert ledger accounts at a later stage. For example, you are using the numbers 8000, 8010, 8020, 8030, etc for your revenue accounts. This means you can insert the number 8025 at a later stage if necessary.

4. Enter a Search name.

   The Search help field in the financial entry programs looks at the value of the search name.

5. Select the Block manual entries check box for the ledger accounts that you only use for entries that are generated automatically by other Profit components.

   You can still import entries into ledger accounts for which this check box has been selected. Even if they are direct financial entries.

6. The Type of account determines how the account is displayed on the balance sheet or the profit and loss account.
7. Select Other for Kind of account (the other types are related to VAT/ICP accounts).
8. Do not select the Reconcilable check box. A reconcilable account offers the possibility of eliminating entries against each other. This could involve entries on another ledger account.
9. The financial reporting fields provide you with a simple and easy tool for creating a balance sheet, profit and loss account and a financial indicator overview. They also allow you to record data for the reference ledger account.
10. Click on: Next.
11. Select the Allow VAT check box if a VAT entry is allowed when posting to this account. If you select this check box, you must enter the VAT code when you post an entry to this account.

    If the VAT for an entry on an account for which this check box has been selected should not be calculated, you enter a VAT code for 0% VAT. The VAT/ICP declaration will show the calculation basis for the VAT calculation, but a VAT amount is not calculated.

    • For the revenue and cost accounts and asset accounts, you generally select this check box, with the exception of the cost accounts for internal consumption and exempted costs (postage, wages/salaries, donations, etc).
    • Accounts for which this check box should never be selected include the cash and bank ledger accounts, the summary accounts for debtors and creditors, suspense accounts, depreciations, etc.
12. If VAT is allowed, you can select a preferred VAT code which is automatically proposed during the posting process.
13. Click on: Next.
14. Do not select the Summary account check box. It is also not possible to enter a summary account type now.

    It is not possible to directly post to a summary account. An entry can only be posted to these accounts via a sub-account number (accounts receivable and accounts payable).

15. Click on Next several times and then click on Finish to complete the wizard.