Ledger Balance Types: Define Account Nature in Chart of Accounts

Ledger Balance Types

Article Contents: This article explains the Ledger Balance Types feature, which defines the nature of accounts in the chart of accounts. These balance types are assigned to accounts to determine whether they belong to the balance sheet, profit and loss, or statistical reporting.


Step-By-Step:

Step 1: Navigate to the Ledger Balance Types screen under System Setup > Ledger Setup.

To add a new balance type, click the New + button at the top left of the screen.


Step 2: Enter the GL Balance Type name, provide a description, and select the appropriate Statement Type (Balance Sheet, Profit & Loss, or Statistical).


Step 3: Save the changes to update the list of ledger balance types.


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