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Posted August 01, 2018

Ledgers

General Ledger

A general ledger represents the formal ledger for a school's financial statements. It provides a complete record of financial transactions over the life of the school. The ledger holds account information that is needed to prepare financial statements and includes accounts for assets, liabilities, owners' equity, revenues and expenses.

Other Ledgers

A school may wish to use a separate ledger for certain financial activities such as those that come from summer school or lunch program.

Benefits of using separate ledgers:

- It is easy to distinguish financial activities between primary school transactions and all other transactions (lunch, summer, after school etc.)
- It provides the option to limit user access to appropriate ledger
- It adds flexibility to run separate student /family balances and customer statements
- Allows the option to create automatic email triggers appropriate to the ledger. For example, a tuition reminder email can be associated to the general ledger whereas the low lunch balance email can be associated to the lunch ledger
- It enables parents to upload funds specifically to pay for lunch

Example 1: Suppose that a family has a student that is enrolled both in the academic division and the summer school division. If a school dedicates a separate ledger to academic and summer activities, the parent will be able to easily distinguish their summer balance from the academic balance in the Parent Portal. Moreover, if an admin user is only permitted to manage the summer ledger, they will only be able to access this family's summer transactions.

Example 2: Suppose that a school uses the lunch module and wants to notify parents when they have a low balance in their account so they can add more funds. If a school dedicates a separate ledger to lunch accounting, a parent will be able to easily distinguish their lunch balance from the academic balance in the Parent Portal. Additionally, this will provide an option for parents to load funds that may only be used to pay lunch invoices.

Note: It is not necessary to recreate same accounts in multiple ledgers; if you prefer to use the same account in all ledgers but wish to keep activity within each ledger separate, simply associate the account with desired ledgers.