Step 1: Go to Admin -->> General Ledger -->> Chart of Accounts
Step 2: Select the respective option from Asset/Liabilities/Income/Expense for type of ledger account you want to create.
Step 3: Select the Group from "Group" list box.
Step 4: Enter account number in "GL Account No." column next to Group selected.
Note A: "GL Account No" must be unique and should not be entered which is already in use.
Note B: "GL Account No" should be enter by adding 1 in last highest GL Account No is in use to maintain the sequence and it should not be any random number.
Step 5: Enter account name which need to created under "Account Name" column.
Step 6: While creating ledger account in the nature of "Income" or "Expense", Please select "Default Bank Account" from list box to associate with respective income or expense ledger account.
Step 7: Save Changes.
Note: Once you select the bank account with respective income or expense account, the default bank will be associated to make payment with or to get amount in respective bank while faster data entry but user will be able to select other bank from list while making data entry. "
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 a Opening Balance. To record it, please pass a journal entries by following the below steps: Step 1: Go to General Ledger --->> Journal Entries -->> Create Journal Entry -->> ...
How to create Group for particular ledger?
Step 1: Login to ADDA -->> Admin -->> General Ledger -->> Chart of Accounts Step 2: Click on "Groups" Tab Step 3: Decide, Which account group you need to create such as Income Group, Expense Group, Asset Group, Liabilities Group Step 4: Add a Group ...
How to deactivate the unused ledger account?
Step 1: Go to Admin -->> General Ledger Step 2: Select "Chart of Accounts" Tab Step 3: Select the relevant head Assets / Liabilities / Income / Expense. Step 4: Click on the "De-Activate" button on the respective account row. Note: Account will be ...
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 ...