Ledger Views

Each account ledger has several views, including five ledger views that can be ordered in forward or reverse order by Date, Journal, Ref#, Description, Cross Account or Reconcile fields.

Changing the View of an Account Ledger

1. In the account table (top window), make sure you are positioned on the Name or Description field of the account.

   

2. Activate any field in the ledger table.

   

3. Issue the View and choose Ledger, Debit, Credit, Open, Closed (X), Opening Balance, Amounts Only, Amounts Only - Dr/Cr Split, Quantities & Amounts, Quantities & Amounts - Dr/Cr Split.

   

   NOTE: You can determine which ledger view is currently being displayed by looking at the left side of the ledger's title bar. For example, if you are on the credit view of bank account 1050, sorted by date, the title bar would read /ACCOUNT/BANK/1050 - Ledger - Sort:date/credit.

   

Additional columns can also be added to the ledger table.

• Aging 30-60-90
• Aging 7-14-21
• Cross Account Description

Changing the Sort Order for an Account Ledger

To sort an account ledger by a different column, click the title of the column by which you want to sort the table. Clicking the title once sorts the column in ascending order (v is displayed beside the column title). Clicking the column title again sorts the table in descending order (^ is displayed beside the column title).

The Ledger View

The ledger view contains all postings attached to the account, whether they are open, closed, debit, or credit. The ledger view is used for most postings activity, since it is the view to use when you want to see everything.

Debit and Credit Views

The debit view contains only debit items and the credit view contains only credit items. For example, if an account has a normal debit balance, only items with positive amounts on the ledger view appear on the debit view, and only items with negative amounts appear on the credit view.

The ability to display debit and credit items for an account separately can be very useful. For a bank account, you can examine all deposits and interest (cash receipts) on the debit view, or all checks, withdrawals and service charges (cash disbursements) on the credit view. For a customer account, you can examine all invoices and service charges on the debit view, or all payments and credit memos on the credit view. In addition, ordering transactions by reference enables you to see at a glance if a list of transactions is complete. For example, checks on a bank account can be ordered by check number by choosing the credit view and sorting the table by reference. Any missing checks are immediately apparent.

Open and Closed Views

In NV2, reconciled/closed or unreconciled/open can be interchanged and whichever is more appropriate to the topic is used. For example, when accounts are checked against statements from external organizations, the terms reconciled and unreconciled are used. On the other hand, when describing the open item method, open and closed are more appropriate. In general, when not applying concepts to a specific situation, the terms open and closed are used.

The open view contains only open items, and the closed view contains only closed items. The open view is especially useful for reconciling accounts with statements from external organizations (e.g. bank and credit card accounts) and for maintaining subsidiary ledger accounts using the open item method (e.g. accounts receivable, accounts payable and inventory). See Opening Balance below.

The reconcile field on a ledger table is used to close (reconcile) an item. An item is closed by entering any alpha, numeric or alphanumeric string of characters in this field. For example, on a vendor account maintained on an open item basis, a check number could be used to reconcile a payment to a vendor with the invoice(s) being paid. On a bank account, the date a check clears the bank could be used to reconcile the check with the bank statement.

When an item and/or the corresponding cross-item are reconciled, changes to the item can be prohibited to prevent inadvertent errors. If necessary, however, the item(s) can be unreconciled and the changes made.

Ordering postings by reconcile enables you to group items in a meaningful way. For example, closed postings on a vendor account are ordered by reconcile by choosing the closed view and ordering the ledger by reconcile.

Quantities Only, Amounts Only and Quantities & Amounts View

Within NV2, there has been some shortcuts set up to assist in the viewing and entering of data. These areas are Quantities Only, Amounts Only and Quantity and Amount views. These have been provided to assist with various views. For example, if you are on an account where quantities are irrelevant, like a bank account, then you would view amounts only. Conversely, in an inventory account, the quantities or both quantities and amounts may be required.

Quantities Only View

The Quantities Only view contains only the quantities for all transactions attached to the account whether they are open, closed, debit or credit. The quantities only view is mainly used where amounts are not as important such as inventory.

Amounts Only View

The Amounts Only view contains amounts (no quantities) for all transactions attached to the account whether they are open, closed, debit or credit. The amounts only view is mainly used for accounts where there would be no quantities or you do not want to see quantities such as bank accounts.

Quantities & Amounts View

The Quantities and Amounts view contains both quantities and amounts for all transactions attached to the account whether they are open, closed, debit or credit. The quantities and amounts view is mainly used for accounts where both quantities and amounts are needed such as sales accounts.

Opening Balances

The Open Balance of the open view (non-reconciled items) can be set in several ways. On any ledger, issue the command View>Opening Balance.

Opening Balance
Option	Common usage	Date range	Description
Zero	Non Bank accounts	any	Sets the open balance to zero (0.00) regardless of the date range or any reconciled (closed) items.
Open	custom reports	periodic	Sets the open balance to the sum of all unreconciled (open) items prior to the period begin date.
Closed	custom reports	periodic	Sets the open balance to the sum of all reconciled (closed) items prior to the period begin date.
Ledger	custom reports	periodic	Sets the open balance to the sum of all items prior to the period begin date.
All Closed	Bank accounts	any	Sets the open balance to the sum of all reconciled (closed) items, no matter what their dates are. This is the default behavior of NV1 Document>View>Open

Additional Columns

Aging

Issue the command View>Aging 30-60-90 or View>Aging 7-14-21 to set up six additional monthly aging columns to the default ledger view. The aging columns are used to display an aged analysis of your invoices and payments, as of the current date.

To move a column, activate any field in the column to be moved and press <Ctrl+Right Arrow> to move the column to the right, or <Ctrl+Left Arrow> to move the column to the left.

Cross Account Description

Issue the command View>Cross Account Description to set up an additional column to the current ledger view. This is very use full for set of books that have numeric codes for AP and/or AR accounts. With this command the full description of the cross account is displayed.

To move a column, activate any field in the column to be moved and press <Ctrl+Right Arrow> to move the column to the right, or <Ctrl+Left Arrow> to move the column to the left.