Ledger Rules

You can set up rules defining which invoices and expenses to post on which ledger accounts in your accounting. You process the transfer via GL journals.

You do it in two steps.

  1. First, you define a set of ledger accounts that invoices and expenses should be posted on in your accounting.

  2. Second, you set up some rules governing which invoices should be posted on which account depending whether it is Domestic, EU or Third Country.

Step 1: Define a set of ledger accounts

  1. Click your company name in the right side of the top menu and go to your Company Settings in the drop-down menu.
  2. Click Ledger Rules in the Financials section.

    Ledger Rules

  3. Click + Add new in the upper right corner.

  4. Enter a relevant name for the set of ledger accounts you want to indicate, e.g. ‘EU’ or - if you only transfer invoices - ‘Sales EU’.

    Create Ledger Rule

  5. Weight indicates how important the rule is compared to other rules you set up that may concern the same SKU. The higher the weight, the more important the rule. Thus, if you want this rule to apply before another rule, just ensure that the weight is higher for this rule than the other.
  6. Indicate ledger account numbers in your accounting for respectively expenses and sales. If you use an accounting system, it will usually be enough to fill in the first line of fields Expense Account and Earnings Account. Then the accounting system will manage to post on the other accounts automatically.
  7. Click Save. The name of the set of ledger rules, you just created, will now appear on the list.

Step 2: Set up rules for when to post to which set of ledger accounts

  1. To set up the rules for the set of ledger accounts, you created, click the button Rules next to the name.
  2. You can now define which criteria should apply for an invoice or expense to be posted to this set of accounts. It is important to choose whether it should apply to Invoices or Expenses or All types of documents.

    Rules setup

  3. A usual criteria to set up is country group, e.g. Home Country, EU Country or Country outside EU.
  4. NB! If you have an integration to e-conomic, and you have chosen to transfer expenses from e-conomic to tracezilla, you should set the rule to apply only to Invoices.
  5. The other criteria will only be relevant in special circumstances.
  6. You can add more rules to the set of ledger accounts by clicking Add empty rule.
  7. Click Save Rules.

 

Outline