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how to link general journal to ledgers

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    how to link general journal to ledgers

    good day,

    i would like to know how to link the data in my general journal to the ledgers via folio numbers.
    what i would like to do is that as i fill the GJ, the the data cells for the ledgers would also fill up when i enter their respective folio numbers in my journal.
    if this is not doable, please suggest alternative formats or if it is not too much trouble, please share some templates that would make bookkeeping more efficient for me. i would like to maintain a general journal, general ledger or t-accounts, trial balance. and from their i can work my way towards the financial statements.
    any help would be greatly appreciated! advance thanks!
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    Re: how to link general journal to ledgers

    Hello there
    Most things are possible, although not always practical. To tailor Excel to be an accounting system can be done, however I suggest an account software as your solution, there are some free ones if the cost is a limitation.
    It will be easier to learn than learning VBA in order to maintaining the code as you expand it for future accounts.

    If Excel has to be IT, I would change things a little. I would have a place where to enter transactions and another place where to create reports. These reports could be any type, i.e. GJ, GL, trial balance, etc.

    Let me know if you really need to go this route ?

    Regards
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    Re: how to link general journal to ledgers

    thanks Hamjam,

    since i really dont have any sort of budget for an accounts software, i would really like to use excel. but still, any free software is of course welcome.
    and also,if i use excel i would be able to import my files to a tablet pc so i can review my work even away from the office.

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    Re: how to link general journal to ledgers

    ok,
    Last call : some free accounting software is Turbocash, Gnucash which support import/export functions. There are others that are web based which will support your need for multi-platform access such as FrontAccounting and SQL Ledger

    The problem with entering it in the GJ is that it is difficult to determine the start and end of 1 transaction set. You can also post something to an account that does not exist which makes it difficult to post to the account. These templates grow with new transactions and should be generated dynamically, as you probably don't know how many transactions are going to be done. Also you mentioned set of steps to achieve financial statements, so moving data between different sheets may not necessarily get you closer to this result.

    In Excel, as mentioned, it will require a change in thinking. So I would enter the transactions in 1 place, selecting pre-set accounts. These will be stored as transaction records and I would have another number that is added to each transaction belonging together (for the debit and credit parts).

    There would be another place to maintain your accounts, so you can create accounts and provide them with unique folio numbers.

    Then you could take your GJ and GL templates and generate these as needed, i.e. you would need to select the report and possibly a date range and a specific account and it will extract all matching records and fill your template.

    This is probably about a weeks worth of work, I can do little bits on each area but don't have time to expand to full functions to write accounting system in Excel. How strong is your VBA to complete parts I could sketch out ?

    I suggest to review the accounting packages suggested and see if any will do the job you need.

    Regards

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    Re: how to link general journal to ledgers

    thanks! i got gnucash, still getting used to the layout, it's not exactly "eye friendly", or maybe i just haven't figure out how to customize yet. I'll try to fatten my knowledge in excel for the time being but this software will do nicely for me.

    thank you very much again!

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    Re: how to link general journal to ledgers

    Based on your last post in this thread, its apparent that you are satisfied with the solution(s) you've received and have solved your question, but you haven't marked your thread as "SOLVED". I will do it for you this time.

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