General Ledger
How to create Ledger/Account Groups?
Creating Ledger group: Step 1: Login to ADDA Admin >> General Ledger >> Chart of Accounts Step 2: Click on “Groups” tab, Add a Group Name in Relevant Category with unique GL Account Number>>: Enter Group No in GL No Column and Enter Group Name under ...
How to upload the opening balance of the bank?
Please follow the below steps to update the opening balance of the bank: Step 1: Login to ADDA -->> Update the bank name from General ledger -->> Chart of Accounts -->>Assets. You will have to pass the journal entry to post the bank opening balance ...
How to create bank account in ADDA to capture the entries?
To create the bank account in ADDA, kindly follow the below steps: Step 1: Go to General ledger>>Chart of accounts>>Assets. Step 2:Under Set up Bank & Petty Cash Details enter all the details i.e Group, GL account number, and Account name>>Click on ...
How to create ledger account?
Creating Ledger Accounts: System will be having some accounts by default which will be used by most of the Apartments. And if required, more ledger accounts can be created for Assets/Liabilities/Expense/Income. Step 1: Login to ADDA >> Admin >> ...
How to record a Capital Expenditure or Capitalized Fixed Assets?
Recording a Capital Expenditure or Capitalizing Fixed Asset have 5 major steps. Step 1: Creating Asset Account A. Go to Admin -->> General Ledger -->> Chart of Accounts B. Click on Assets Tab C. Create assets accounts as mentioned at this link Note: ...
If I had purchased an asset before 01-04-2013 then how can I account for it?
If the Assets are purchased in the Last year, you can consider them as an Opening Balance. To record it, please pass a journal entries by following the below steps: Step 1: Login to ADDA -->> General Ledger --->> Journal Entries -->> Create Journal ...
I would like to close and freeze my books of accounts, how can that be done on ADDA?
Please refer the steps below to close and freeze my books of accounts: Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Trial Balance -->> Perform Year-End -->> Mark “Status” as Done >> After selecting all activity, click on “Save Changes”. ...
What is GL Account No.?
"GL Account No." is a unique number associated with each Ledger Account. Any random number can be assigned to ledger account name but for better management and sequence, it should be in serialized numbers by adding 1 in last highest GL Number already ...
Is General Ledger Account No. system generated?
GL Account Number is not System Generated. You can give a random GL Account number as per your requirement, making sure that the GL Account number is not repeated. It is always better to have GL Account Numbers in sequence for better representation.
How to generate Trial Balance?
Please follow the below steps to generate Trial Balance: Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Trial Balance Step 2: Select the date range for which Trial Balance required. Step 3: Select the type of Trial Balance you require. ...
How to pass a journal entry?
Journal entries can be used when setting up ADDA and when closing account books. Opening Balances can be added to ADDA by posting the Journal entries and other entries like Depreciations, provisions etc. can be updated through journal entries. Please ...
How to delete a Journal Entry?
Please follow the below steps to reverse Journal Entries: Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Journal Entries. Step 2: Click on "Old Journal Entries". Note: Old journal entries will be shown on screen from the start date of the ...
How to deactivate the unused ledger account?
Please follow the below steps to deactivate unused ledger account: Step 1: Login to ADDA -->> Admin -->> General Ledger. Step 2: Select "Chart of Accounts" Tab. Step 3: Select the relevant head Assets / Liabilities / Income / Expense. Step 4: Click ...
What is "Query" tab in General Ledger Application?
Query tab is the most powerful search tool on ADDA. You can search for all the things you want to search on ADDA related to accounting transactions. Ledger Account Transaction Search: You can view, search any transaction on a specific ledger account. ...
How to upload the opening balance of particular ledger account?
Please follow the below steps to upload opening balance of particular ledger account: Step 1: Go to Admin -->> General Ledger -->> Journal Entries Step 2: Click on "Create Journal Entry" Step 3: Enter Journal Notes (Narration), Date and amount in the ...
How to upload the journal entries in batch ?
Bulk upload can be done using an excel file: Step 1: Login to ADDA -->> Admin -->> General Ledger Step 2: Click on the "Journal Entries" Tab -->> Bulk Posting. Step 3: Click on “Batch Upload Journal Entries From Excel” Step 4: Download .csv File ...
What is a financial statement and how can I find it on ADDA?
A financial statement is a formal record of the financial activities of a business, person, or other entity reflecting true and fair financial information. Relevant financial information is presented in a structured manner and in a form easy to ...
How to upload the Last Year's Financial Statement?
When you start updating the accounting entries on ADDA, you can update the Last Year Financial Statement by creating journal entries: For example, if you have a Balance Sheet for the Year 2019-20, you can enter the details as opening balance as of ...
How to take the back up of Accounting data from ADDA ?
Step 1. Login to ADDA -->> Admin -->> General Ledger -->>Trial Balance. Step 2. Select the particular period -->> Click on Generate Trial Balance. Step 3. Scroll down and you will find Export All Transaction to Excel and Export All ...
How to pass a depreciation entry to maintain a Gross Block?
Step 1. Create a Ledger "Accumulated Depreciation of relevant Asset (E.g. Accumulated Depreciation of Computer) under Login to ADDA -->> Admin --->> General Ledger-->>Chart Of Accounts-->>Asset. Step 2. Create a Depreciation head under General ...
How to show the Prepaid Expense?
Please follow the below steps to show prepaid expenses: Step 1: Book an Invoice for the whole amount under Expense Tracker and pass the relevant Payment Entry. Step 2: Create a ledger head "Prepaid Expense (E.g. Prepaid AMC-Lift) under General ...
How to pass an Expense provision Entry if we have not received the Bills ?
Step 1. Create a Ledger "Provision For Expense"(E.g. Provision for Electricity) under General Ledger-->>Chart Of Accounts-->>Liabilities. Step 2. Go to General Ledger--->>Journal Entries Step 3. Pass a journal Entries Debit Expense Account and Credit ...
How to rename GL account ?
Please follow the below steps to rename the GL account: Step 1: Login to ADDA -->> Admin -->> General Ledger-->> Charts of Accounts Step 2: Overwrite the GL account name in desired Ledger head i.e. Income, Expenses, Assets & Liability & Save changes.
How to account Fixed Deposit?
We can enter the fixed deposit into the system. Step 1: create a GL for fixed deposit in general ledger charts of account. Fixed deposit GL needs to create under Assets in charts of account. Step 2: Pass a journal entry for entering the fixed ...
What changes to be made on ADDA in case of below scenario: A Maintenance company/Builder was maintaining ADDA. Now it will be maintained by the newly formed Association. New Association wants accounts to continue uninterrupted and just this Entity change should happen.
To meet your requirement please ensure below checks: 1. All P&L Accounts need to be renamed to identify the new Entity's Accounts. Best to rename the Old Accounts as those would anyway get deactivated after Audit is done. 2. All Balance Sheet ...
How to fetch reversed/voided transactions?
Voided transactions are those transactions wherein, the earlier entry made is reversed. Follow the steps below to fetch voided transactions: Step 1: Login to ADDA -->>Admin -->> General Ledger -->>Query Step 2: In Query Tab -->> Select "By User" -->> ...