Ledger

View and manage your general ledger and financial reports.

Overview

The Ledger provides a complete view of your account's financial data using double-entry bookkeeping. It includes a general ledger, balance sheet, profit and loss report, and trial balance.

Key characteristics:

  • Double-entry — Every transaction has a debit and credit side, ensuring your books always balance.
  • Chart of accounts — A structured list of transaction accounts grouped by type (assets, expenses, income, loans, transfers).
  • Multiple reports — Balance sheet, profit and loss, trial balance, and detailed ledger views.
  • Accounting basis — Reports can be generated on either a cash or accrual basis.
  • Date filtering — All reports support custom date ranges, with financial year detection.
  • CSV export — Ledger data can be exported to CSV.

Chart of Accounts

Transaction accounts form your chart of accounts. Each account belongs to one of the following types:

Account Type Purpose Examples
Asset Things you own or are owed Bank accounts, cash, trade debtors
Expense Costs of doing business Office supplies, wages, rent
Income Revenue earned Sales, consulting fees, interest
Loan Money you owe Credit cards, loans, trade creditors
Transfer Internal fund movements Inter-company transfers, clearing accounts

Bank Accounts

Asset accounts can be marked as bank accounts. Bank accounts:

  • Appear in bank reconciliation
  • Can receive bank statement imports
  • Track opening balances
  • Store BSB and account number details

System Accounts

Some accounts are created automatically by the system and cannot be deleted:

  • Trade Debtors — Tracks money owed to you by customers
  • Trade Creditors — Tracks money you owe to suppliers
  • GST Collected — GST collected from customers on invoices
  • GST Paid — GST paid to suppliers on expenses
  • PAYG Tax Payments — PAYG tax withheld from wages

Managing Accounts

  • Create new accounts from the ledger page.
  • Edit account names, descriptions, and opening balances.
  • Deactivate accounts you no longer use (they remain in historical reports).
  • Reallocate all transactions from one account to another before deletion.
  • System accounts can have their opening balance edited but cannot be deleted or renamed.

General Ledger

The general ledger shows all transactions for selected accounts within a date range.

Viewing the Ledger

  1. Select one or more transaction accounts.
  2. Choose a date range.
  3. View individual debit and credit entries with running balances.

Each ledger entry shows:

  • The date of the transaction
  • A description linking back to the source document (invoice, expense, payment, etc.)
  • The debit or credit amount
  • The running balance for that account

CSV Export

The general ledger can be exported to CSV for use in external accounting software or spreadsheets.

Balance Sheet

The balance sheet shows the financial position of your business at a specific point in time.

Sections

Section Description
Assets What the business owns (bank accounts, receivables, equipment)
Liabilities What the business owes (loans, credit cards, payables)
Equity The residual value (Assets minus Liabilities)

The balance sheet follows the accounting equation: Assets = Liabilities + Equity.

Profit & Loss

The profit and loss report (also called an income statement) shows income earned and expenses incurred over a period.

Sections

Section Description
Income Revenue from all income accounts
Expenses Costs from all expense accounts
Profit / Loss The difference (Income minus Expenses)

Accounting Basis

The profit and loss report can be generated on either basis:

  • Accrual — Revenue and expenses are recognised when invoices and expenses are issued, regardless of when payment is received.
  • Cash — Revenue and expenses are recognised only when payment is actually received or made.

Trial Balance

The trial balance lists all accounts with their debit and credit totals for a given period. It is used to verify that total debits equal total credits.

Columns

Column Description
Account The transaction account name
Opening Balance Balance at the start of the period
Debits Total debits during the period
Credits Total credits during the period
Running Balance Closing balance for the period

Accounts are grouped by type (asset, loan, expense, income, transfer) with subtotals for each group.

BAS Statements

Business Activity Statements (BAS) track GST and PAYG obligations for Australian businesses.

BAS Periods

BAS periods can be configured as monthly or quarterly, aligned to your financial year (Australian standard: July to June).

What Is Tracked

Item Description
GST Collected GST charged to customers on invoices
GST Paid GST paid to suppliers on expenses
Net GST Position Collected minus Paid (positive means you owe the ATO)
PAYG Tax Pay As You Go tax withheld from wages

Period Locking

VAT periods can be locked after lodgement to protect the integrity of your lodged figures. Locked periods prevent modifications to BAS journal entries (the summary accounting entries for that period). Invoices and expenses can still be created or modified within a locked period. If a reconciled payment within a locked period is deleted, the period will be automatically unlocked and an email notification sent to accountants.

Raw Journal Entries

Raw journal entries allow you to record manual adjustments directly in the ledger without creating an invoice or expense.

When to Use

  • Year-end adjustments
  • Opening balance corrections
  • Inter-account transfers not covered by bank transfers
  • Depreciation entries
  • Any manual double-entry adjustment

Requirements

  • Every raw journal entry must balance — total debits must equal total credits.
  • Each line must have either a debit or a credit amount, not both.
  • Entries cannot be created within a locked BAS period.

Permissions by Role

Action Owner Super Admin Admin Accountant General Client
View ledger reports Yes Yes No Yes No No
Manage transaction accounts Yes Yes No Yes No No
Create raw journal entries Yes Yes No Yes No No
Manage BAS statements Yes Yes No Yes No No
Lock / unlock BAS periods Yes Yes No Yes No No
Export ledger to CSV Yes Yes No Yes No No

Key Notes

  • Admins cannot access the ledger, BAS statements, raw journal entries, or transaction accounts.
  • Accountants have full access to all ledger and accounting features.
  • Ledger access requires the accounting add-on on your subscription plan. Trial accounts have access by default.
  • General Users, Contractors, and Clients cannot access any ledger features.