Re: General Ledger queries

[Benedict White <..hidden..>]

On 03/03/14 03:53, Chris Travers wrote:
> Ok, this may seem a little long-winded but it might be worth providing 
> a basic introduction here.  We try to keep relatively close to the 
> paper world because the techniques of paper accounting are robust, 
> transparent, and time tested.
>
> In the paper accounting world you have journals and ledgers.  The 
> journals are where you enter your transactions and the ledgers are 
> aggregations of what was entered.  The general ledger is thus the 
> financial side of your books aggregated from all your journals 
> (general, sales, purchase, payroll, receipts, disbursements, etc). 
>  You may have various special ledgers as well (showing such things as 
> inventory or share ownership).
>
> This distinction is blurred in the software world but it is still a 
> useful distinction to keep in mind.  Stuff gets entered into journals. 
>  It gets presented in ledgers.  We are moving more towards this 
> approach with the financial rewrite I am hoping to complete for 1.5.
>
> The big thing missing from the general journal/ledger is an ability to 
> connect directly to any other information.  So for a few directors or 
> banks who loan money, you can track who is owed using separate chart 
> of accounts entries.  Misc expenses might be ok too as long as you 
> don't have to track who the money was owed to and they are paid at the 
> same time they are accrued.  However for expenses, I would just go 
> with AP transactions against a generic vendor if they are paid right 
> there.  This helps ensure that your AP reports show the expenses.

So just to clarify, I would say set up a vendor for one offs, and post a 
purchase order against that?

How would I then pay the person who had incurred that expense on behalf 
of the company?

(Sorry for being a bit slow on the uptake, I am also reading a book on 
book keeping as well as reading the manual)

OK, but could we get an expenses claim form integrated into the system 
somehow in a future version, so that it would record a debt owed to an 
employee who had gone and bought something, to be reimbursed from either 
a bank to bank or petty cash payment?

Kind regards


Benedict White


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