Accounting Ledger Types

the MacNail construction accounting software includes two different types of Checkbook Ledgers.

NOTE-- Goldenseal construction accounting software is the successor to MacNail, which we retired in 2000. Goldenseal is an integrated business management program that includes general accounting, job costing, payroll and project billing, plus construction cost estimating, contract writing and simple scheduling. It includes banking transactions, which are similar to the MacNail Ledgers.

* Full Ledgers include 'lookup formulas' that refer to the Master Index. They also include room for job cost categories.
* Quick Ledgers do not have 'lookup formulas' or room for job cost categories. If you want to use a Quick Ledger to find totals by project or by payee, you must be careful to use consistent spelling when data entering. You will not be able to post to Cost Control or Profit & Loss worksheets from a Quick Ledger, or use it for generating Reports.

Your choice of ledgers will depend on the amount of job costing you want to do, and whether you are using Logbooks for your job expenses.

When to use Full Ledgers:

* Use Full Ledgers if you are job costing ANY of the four payment types directly from the Checkbook Ledger.
* Use Full Ledgers if you want to use the Ledgers to calculate your income taxes.
* Use Full Ledgers if you want to regularly 'look up' supplier or project information for the Ledger.
* Use Full Ledgers if you are using the accrual method of accounting (see page 198).

When to use Quick Ledgers:

* Use a Quick Ledger if you use cash accounting and want to 'keep the books' as simply as possible.
* Use a Quick Ledger for savings accounts, non-business accounts, and other accounts that have very little traffic and that aren't used for job costing, taxes or income statements.