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Home > Marg Books > Accounts Master > How to Create Ledger in Billing General Setup in MargBooks ?
How to Create Ledger in Billing General Setup in MargBooks ?
Process to Create Ledger in Billing General Setup in MargBooks
- Go to > 'Master'.
- The user will click on 'Accounts Master'.
- User will click on 'Ledger' or press '+'sign.
- Click on 'Create' button or press 'F2' key.
Note:- In MargBooks, users can create a ledger quickly by completing only the mandatory fields marked with a red asterisk (*) and clicking the Save button.
- User will enter the Ledger name in the 'Party Name' field under the 'General Info' section and press 'Enter' key.
- User will press the 'Spacebar' key in the Account Group field to select the required ledger account group.
- User will select the required account group and press the 'Enter' key.
- User will enter the station name in the 'Station' field.
- Mail To:- Enter the name of the person or organization to whom correspondence or invoices will be addressed.
- Address:- User will enter the complete address of the customer or ledger.
- Country:- Select the country associated with the customer or business.
- State:- User will select the applicable state.
- City:- Enter or select the city associated with the customer or business.
- Pincode:- User will enter the postal (PIN) code.
- Currency:- Select the currency in which ledger transactions will be recorded.
- Parent Ledger:- User will select the parent ledger, if applicable, to group the ledger under a specific account.
- Balancing Method:- the user will find two options: Bill by Bill and On Account.
- Bill by Bill:- Select Bill by Bill to maintain individual bill-wise records, making it easier to track outstanding invoices and payments separately.
- On Account:- Select On Account to record payments without linking them to specific bills. This option is suitable when bill-wise tracking is not required.
- Suppose the user selects the 'Bill by Bill' balancing method.
- User will enter the opening balance amount to record the initial balance of the ledger and press 'Enter' key.
- User will view the Opening Balance window and enter the bill-wise opening balance details.
- Click on 'Save' button.
- User will enter the number of credit days allowed for the ledger as per the agreed payment terms and press 'Enter' key.
- Contact Number:- User will enter the office phone number, primary mobile number, and WhatsApp number in the respective fields.
- User can click the (+) icon to add additional contact numbers, if required.
- Click the GST/Tax Details tab to enter the ledger's GST and tax-related information.
- Contact Information:- User will enter the contact person's details, including Name, Gender, Marital Status, Designation, Website, and Email ID in the respective fields.
- Bank Details:- User will enter the Bank Name, Branch, IFSC Code, Account Number, Account Type, and Account Holder Name in the respective fields.
- Others:- User can configure additional ledger settings, including Special Rates, Discounts, Billing Rate, Credit Limit, Copy Dealings, Birthday & Anniversary, Other Details, Geolocation, Bill Export, and TCS Applicability, as per business requirements.
- Click on 'Save' button.
After following the above steps, the user can easily create a ledger in the Billing General Setup in MargBooks
