Manage ledgers

Summary

This article explains how to add a new ledger, archive an unused one, or reinstate an archived ledger. Only administrators can access this area in Palace.

This article covers:


Ensure you are familiar with tenancy ledgers before continuing.

Add a ledger

You can add as many ledgers as needed.

  • Go to Financial > Ledger
  • Click Add Ledger
  • Name the ledger
  • Select a Bond or Fee ledger type

  • Make it restricted (if applicable)

Tip: It is highly recommended that bond other ledgers be marked as restricted ledgers.

  • Click Save

Note: Restricted - Most Bond Other ledgers are designated as restricted. This means you cannot use a payment ledger to withdraw funds or a receipt ledger to deposit funds directly. The only way to manage transactions in a restricted Bond ledger is through a tenancy invoice: depositing funds via a receipt tenancy invoice and withdrawing funds via a refund tenancy invoice.


Archive a ledger

If a user-created ledger is no longer required, you can archive it. System-generated ledgers cannot be archived.

To archive a ledger, the following criteria must be met:

  • The balance of the ledger must be zero
  • There cannot have been any transactions done in the current month

 To archive a ledger:

  • Go to Financial > Ledger
  • Find the ledger you wish to archive. Click on the drop-down arrow next to Edit, then select Archive
  • Read the pop-up message carefully. You may have outstanding tenancy invoices linked to this ledger. If you do, the following will occur:
    • The ledger will be archived
    • All outstanding tenancy invoices linked to this ledger will automatically be linked to the new unallocated ledger
    • A report of those invoices that were linked to the ledger that you archive will be created and saved under Insights - Historic
  • Click Yes to archive the ledger

A green box will appear to confirm that the ledger has been archived.


Access or reinstate a ledger

  • Go to Financial > Ledger
  • Click Show Archived

  • Find the ledger and use the drop-down to reinstate or run reports

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