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General information
Finance information about transactions between your company customers and suppliers is stored in the finance module of the system. By using general ledgers you can view the trade liabilities, the debts of the customers as well as income and expenses, and thus keep track of the company financial flow.
To access ledgers, on the Finance menu, click Ledgers:
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. In the system, there are four major types of ledgers:
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Note: The general ledgers contain information about system transactions only. Other external
information such as salary, stationery expenses, etc. is not displayed here.
Displaying general ledgers
Inside the general ledger, the information is displayed in the form of a tree. There are four main nodes on the top level:
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Note 2: If a reservation is canceled, the price of the canceled service is deducted from financial
ledgers and it is not taken into account in further accounts.
Example
Assume that according to the contract conditions, a tour operator adds a mark-up of 20% to a net-price, and the travel agency’s commission is set to 10%. Let's see how the information change is reflected in the general ledger at different steps of selling services.
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Step 4
The tour operator pays the supplier's invoice. As a result, the amount in Liabilities line decreases respectively to the amount paid (in this case, the amount decreases to zero, because only one service was booked earlier which is now fully paid: 35,00 EUR - 35,00 EUR = 0) and your net profit for the service
remains in the Assets section (37,80 EUR – 35,00 EUR = 2,80 EUR).
Reflecting rate difference
The rate difference can occur when the currency of a tour product, which is sold to a tourist, differs from the system currency and when the dates of service booking and invoicing are different. In such a case, tour operators can have both exchange gains and exchange losses because of the cross-rate for these days.
Assume that an agent books an offer for 1 000 EUR on Monday, with the ruble’s dollar’s rate to the euro 420,2095. Than 42 200 rubles 950 USD are transferred to the tour operator's bank account.
But as of the date of invoicing (on Tuesday) the rate changes and climb to 420,54 rubles 98 USD for 1 euro. That is why the amount of 140 rubles 30 USD should be additionally transferred to the tour operator's account (42 540 – 42 400980 USD-950 USD).
In case the rubledollar's rate to euro changes decreases by the time of Invoicing and drops to 420,20 rubles 95 for 1 euro, then the loss of 200 rubles 30 USD is reflected on the tour operator's account (the Edit Rate section).
Flow of funds during invoicing and payments
Information in the finance book is not static. During invoicing and payments the funds move to the respective subsections. After the final settlement, the accounts payable and the accounts receivable are set to zero. in such a case, the accumulated income can be viewed on the bank account.
Exporting general ledgers to Excel
You can not only study the financial data but also export it to the Excel format. To export general ledgers to the Excel file:
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