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General Ledger - Assets, Schedules, Allocations and Departments
  • Fixed assets: register equipment, vehicles and buildings. The ledger posts straight-line depreciation every month and the disposal when one is sold.
  • Prepaid & deferred: spread a prepaid expense (insurance paid for a year) or deferred revenue over its months. Each month posts by itself.
  • Allocations: share a cost between locations, by percentages or by each location's sales, every month.
  • Departments: read the income statement by department. Departments come from Payroll. Paychecks count in their stub's department. Rules say which department an account's lines belong to (for one location or all), and journal entry lines can name one. Changing a rule re-tags lines already posted without changing any amount.