General ledgerSet up the ledgers, parties and years your books run on.
A chart of accounts with enforced levels, accounting parties created from customers, vendors and lines, cost centers, and financial year close and reopen.
Shipping finance
Overview
The Sailix chart of accounts is a tree with fixed depth: a root, three levels of groups, and ledgers at the fourth level. The server works out each account's level from its parent and rejects anything placed elsewhere, so the structure your reports roll up through stays consistent. A new organization starts with four top groups: Assets, Expense, Income and Liabilities.
Customers, vendors and lines do not have to be keyed a second time for accounts. When one is created, Sailix creates its accounting party in the same transaction, and that party can sit under a control ledger as a sub ledger. Financial years, sub periods and cost centers are kept as masters beside the chart, and closing a year blocks further posting into it.
Capabilities
What it does
Enforced account hierarchy
Groups occupy the first three levels and ledgers the fourth. Each ledger takes its effect (assets, liability or profit and loss) from the group above it.
Ledger attributes
A ledger carries an account number, currency, a special preference such as receivable, payable or bank, and a schedule for the trial balance, profit and loss or balance sheet.
Locks once in use
After an account has transactions, its parent, special preference and job effect are locked. A group with ledgers under it cannot be moved or reclassified.
Accounting parties
Each party holds receivable, payable, advance in and advance out accounts, an AR/AP classification, a transaction currency, and the credit days and credit amounts shown on outstanding reports.
Cost center master
Cost centers sit under a group and an optional sub group, typed as cost center, profit center or both, and can be picked on receipt and payment voucher lines.
Year close and reopen
Close Financial Year records the closing date and retained earnings account and marks the year closed. Vouchers dated inside it are rejected until Re-Open Financial Year clears the flag.
Workflow
How it works
First
Build the chart
Add groups under the four top groups, then ledgers at the fourth level. Browse the tree to pick a parent, and mark the ledgers that should hold parties as sub ledger allowed.
Then
Define years and periods
Create the financial year with its start and end dates and set it as current. Sub Period Profile then generates monthly or weekly periods from those dates.
Next
Check the parties
Review the accounting parties created from your customers, vendors and lines, and set their credit days, credit amounts and AR/AP classification.
Finally
Close the year
When the year's entries are complete, tick verified and close the year. If a late entry is needed, reopen the year, post it and close again.
Questions
Questions and answers
How many levels does the Sailix chart of accounts have?
- Five, counting the root. Level zero is one root per organization, levels one to three are groups, and level four is always a ledger. The level and type are derived from the parent account on the server, so a ledger cannot be created under another ledger.
Are customers and vendors added to accounts automatically?
- They are created as accounting parties. When a customer, vendor or line is saved, Sailix creates the matching accounting party in the same transaction, copying contacts, bank details, PAN, TAN and currency. Customers are marked receivable, and vendors and lines are marked payable.
What happens when I close a financial year in Sailix?
- Sailix saves a closure record for the year with the closing date and the retained earnings account you choose, and from then on rejects any voucher dated inside that year. It does not generate closing or carry-forward entries on its own.
Can a closed financial year be reopened?
- Yes. Re-Open Financial Year lets you pick the year and clear its closed flag, after which vouchers dated in that year can be posted again. Reopening deletes and reverses nothing, and you can close the year again once the late entries are in.
Related
Works with
Vouchers and journals
Receipt and payment vouchers, contra, purchase and sales journals, and credit and debit notes, each posting a balanced ledger voucher when saved.
Financial reports
Trial balance, profit and loss, balance sheet, general ledger, cash and bank books, and party ledgers, generated from posted ledger entries as PDF or Excel.
Bill matching and ageing
Allocate receipts, payments and notes against a party's open bills, release matches when needed, and report outstanding and ageing by party.
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