How to read the Ledger Summary Report

Ledger Summary Report

This reports expands the information about fees earned during the month, how much has been given to Agents, how much should be transferred to the trading account, and how the GST figure is calculated between each fee type.

The first section shows what balance the ledger started with (Opening), and then shows the total amount of fees earned during the month for each fee type (Fees). The column called ToAgents shows how much of the total fees were allocated to Agents as commission. The Receipts column shows any Ledger receipts that may have been processed during the month, and the Payments column shows the total of the payments processed during the month. The Closing balance shows what is left in the ledger accounts at the end of the month. The Now Due column is the same as the Closing figure, except where the closing figure is negative.

The GST Analysis section shows how much GST each fee type had, how much was allocated to Agents and how much was allocated to the office. The final column shows the GST Inclusive total going to the office.

So the column total of the GST Total column agrees with the GST account Fees figure, as does the total of the GST To Agents column agree with the GST A/C ToAgents figure.

This section allows users to post fee amounts including GST to the trading account (last column). It also shows clearly the total of fees earned for the month (2nd column) which can be used to calculate franchise fees.

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