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Using TurboCASH

 







ACCOUNTS
LEDGER MASTER FILES
  
Master files are those Files you may create, edit and delete in a Set of Books. Once master files are created, you only need to select these master files using the search facility or lookup facilities when you process work in TurboCASH. The most important master files are needed to build your Ledger in a Set of Books can be illustrated as follows: -

The General Ledger consists of the Chart of Accounts, including Bank and Tax Accounts. Create, edit and delete Debtor Accounts for the Debtors Ledger. Create, edit and delete Creditor Accounts for the Creditors Ledger. Create, edit and delete Stock Items in the Stock Ledger. The Ledger consists of the General Ledger, Debtors Ledger, Creditors Ledger and the Stock Ledger (if you are trading in Stock Items).

Each of the specific Account master files in the Ledger is maintained in TurboCASH in the following menu options.

 

General Ledger - Chart of Accounts containing all the Income and Expense, Capital, Assets, and Liabilities accounts is created in the Edit - Accounts - General Ledger menu option. Each of these Accounts is linked to a Financial Category. The Control Accounts reflecting the totals of the Debtors Ledger, The Creditors Ledger and the Stock Ledger is included in the General Ledger.
  • Bank Accounts - Each Bank Account is linked to its own Payments and Receipts Batch and is created in the Edit Accounts - Bank Account menu option.

  • Tax Accounts - Each of the Tax codes and the percentages and dates for which these accounts are effective is created in the Edit - Accounts - Tax Account menu option.
Debtors Ledger - The details for the individual Debtor accounts is created in the Edit - Accounts - Debtor menu option. Each of the individual Debtor accounts contains the transactions and the specific details such as the contact information and addresses, messages, terms and information (credit limit, charge amounts, discount percentage, interest percentage, groups, etc.)

Creditors Ledger - The details for the individual Creditor accounts is created in the Edit - Accounts - Creditor menu option. Each of the individual Creditor accounts contains the transactions and the specific details such as the contact information and addresses, messages, terms and information (credit limit, charge amounts, groups, etc.)

Stock Ledger - The details for the individual Stock Items is created in the Edit - Stock Item menu option. Each of the individual Stock items contains the specific details such as the stock item information such as names, barcodes, cost prices, selling prices, groups, accounts (Sales Account, Cost of Sales Account, Stock Control Account, Tax Accounts - Input and Output Tax accounts).