Hi, I am still having difficulties with coming up with a proper mean of using a ledger for my business. I am hoping that someone here could see my Ledger and tell me if it looks sound. I don't want to make alot of entries and later realize I have been doing it wrong. I have read some material on accounting and feel that I understand how to make entries(but not sure how well I am organized and structured)
Below is a sample of my hypothetical testing ledger. If you could have a look and give me some advise/tips I would deeply appreciate it. #GENERAL_ELECTRIC:ASSETS:CASH:CITIBANK US$-12,998.06 ;cash recd, debit to cash acct. #GENERAL_ELECTRIC:LIABILITIES:ACCOUNT_PAYABLE:VENTURE_ENTERPRISE US$ 12,998.06 #GENERAL_ELECTRIC:EXPENSES:BANK:CITBANK:FEES US$-19.35 ;cash paid out credit to cash acct. #GENERAL_ELECTRIC:EXPENSES:BANK:CITIBANK:FEES US$-77.41 ;cash paid out credit to cash acct. #GENERAL_ELECTRIC:ASSETS:BANK:CASH #GENERAL_ELECTRIC:ASSETS:CASH:CITIBANK US$-4,998.06 #GENERAL_ELECTRIC:LIABILITIES:ACCOUNT_PAYABLE:VENTURE-ENTERPRISE US$ 4,998.06 #GENERAL_ELECTRIC:EXPENSES:BANK:CITIBANK:FEES US$-34.19 #GENERAL_ELECTRIC:EXPENSES:COST_OF_GOODS_SOLD:TRIA_SOLAR:INV004 US$-12,000.00 #GENERAL_ELECTRIC:EXPENSES:BANK:CITIBANK:FEES US$-34.19 #GENERAL_ELECTRIC:EXPENSES:COST_OF_GOODS_SOLD:DYNO_WORKS:INV004 US$-3,808.00 #GENERAL_ELECTRIC:ASSETS:CASH:CITIBANK #GENERAL_ELECTRIC:REVENUE:SALES:MICROSOFT:INV004 US$6,000.00 #GENERAL_ELECTRIC:ASSETS:RECEIVABLES:INV004 US$-6,000.00 -- --- You received this message because you are subscribed to the Google Groups "Ledger" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
