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Debtors and creditors ledger masterfile account - Coggle Diagram
Debtors and creditors ledger masterfile account
3
Create debtors ledger masterfile account
Description => Ms. A de Wit
Customer Category => 1 - Consumer
Account code => D005
Details
Postal Address => 102 Lovel Avenue
Stellenbosch
7600
Delivery Address => CTRL + R (if the same as postal address)
Contact => Anza
Telephone => 021 56743
Click the add to create a new account
Processing
Processing method => Open item
Contact => Anza
Edit tab => Customers => Accounts
Close
New account => does not exist yet
Save
Debtor - Debit (+) 100
Revenue - Credit (+) 100
Terms
Early terms => 01 => Click on magnifying glass to determine terms (If terms not there, click modify)
Interest from => 60 days
Monthly terms
Price list => consumer
Credit limit => 20 000
Early terms => Click magnifying glass
=> modify
=> Click 4
=> 2.5%
=> 30 days
=> From date of invoice
=> Ok
=> Double click on terms
=> Close
Change debtors ledger masterfile account
Edit tab => Customers => Accounts
Search
Account already exists
Same as with general ledger
Create creditors ledger masterfile account
Edit tab => Suppliers => Accounts
Principle the same as the general and debtors ledgers
Creditors - Credit (+) 100
Expenses - Debit (+) 100
Add
Change creditors ledger masterfile account
Edit tab => Suppliers => Accounts
Search
Account already exists
Principles same as with the general and debtors ledgers