Accounting Ledgers
Author : Ytech Content Team
Accounting
ledgers are the ledgers in which all accounting transactions are recorded in a
financial year. Ledgers are also legal documents. Ledgers are documents used as
evidence in financial audit, judicial and administrative judicial processes.
The ledgers must be kept for five years, together with the changes in the
legislation according to the countries.
Today,
ledgers can be used as paper as well as electronically stored. The standards at
which taxpayers have to keep and keep ledgers are determined by the
legislation. e-archive and e-ledger integration should be done to keep and keep
records electronically. The WEX platform in W3 has been developed for
electronic ledger recording and storage.
Note: E-Archive
integration also includes e-invoice application. Please review the
ERP/SD/Invoice module.
Tip: The contract description, contract type,
contract date, and contract number information of your CMA or CPA that keeps
your ledgers for your business must be shown in the ledger. However, if the
ledger is kept by an employee within your business, the contract description,
contract type, contract date and contract number should be entered using the
hyphen (-) character. Otherwise, if these fields are left blank, the ledger
creation process will not take place as it will be stuck in the controls during
the ledger creation.
Tip: If you are going to use a different document
type other than the standard document types determined by the IRS, you must
select the other option of this document type and enter its definition in the
explanation field without using abbreviations. If these definitions are not
made, you will be warned that the ledger does not contain standard document
types during the creation of ledger and you will not be able to create your
electronic ledger.
Tip: Each record in electronic ledgers must have a
document type and payment method. However, the important thing here is whether
there is a printed document of the transaction that forms the basis of the
accounting record. If there is no printed document, the document type and
payment method should not be entered.
Important When you want to
create an electronic ledger for a new month, the previous ledger must be in
the archived stage. Otherwise, the electronic ledger for the new ledger
period cannot be created. |
Suggestion To rebuild the
problematic ledger, you must apply to the IRS for the cancellation of the
ledger. However, when the ledger is canceled, you can delete the problematic
ledger and create a new ledger. |