Is Personal Ledger a double entry accounting package?
No, Personal Ledger is a single entry ledger that can be used to track multiple accounts. While Personal Ledger will inform you of mismatched transfers, it’s only purpose is to help you locate errors. In double entry accounting, all entries must be entered into two accounts. In Personal ledger, only transfers from one account to another use double entries. (3.) How do I print out my ledgers? At this time Personal Ledger does not have printing capabilities. I will be adding the ability to print reports soon. If you need any particular types of reports, now would be a good time to email me with your suggestions.
Related Questions
- If I am not using an accounting package at this point (or using a TelPay for Business™ export file), what should I enter for General Ledger Account Numbers in System Administration?
- My integrated accounting package (such as Quickbooks or Peachtree) already has the ability to do the bank reconciliation. What do I need RecWizard for?
- Is Personal Ledger a double entry accounting package?
